China's State-Backed Stock Rescue Fails to Halt Market Slide
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Deng Zhonghua, former deputy director of the State Council's Hong Kong and Macau Affairs Office, publicly called for Hong Kong to use government intervention to break vested-interest barriers and drive growth under its first five-year plan. This signals Beijing's policy direction for Hong Kong's economic governance, emphasizing state-led reform and deregulation for emerging industries. The statement is an opinion from a former official, not a confirmed policy change, but it reflects central government thinking.
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