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The purpose of this book launch speech is to introduce the book I author, Can Hong Kong exceptionalism last? Dilemmas of governance and public administration over five decades 1970s-2020 (2021). The book critically reviews the governance and public administration from 1970s to 2020, identifying strengths and capabilities as well as constraints and dilemmas.

The book is based on my decades of academic observations and personal political experience by interpreting and re-interpreting the Hong Kong journey, with reflections on past assumptions and raising new questions.

This book identifies five exceptional aspects: (a) Under British rule Hong Kong was governed as an atypical colony; (b) It was one of the Four Little Dragons as part of the East Asian Miracle; (c) In the 1990s, it was one of the regional pioneers in public sector reform; (d) The unique constitutional status of post-1997 Hong Kong as a Special Administrative Region (SAR) of China; (e) After reunification, the SAR government, though only semi-democratic, is checked by balancing and monitoring mechanisms no less vigorous than some developed democracies. It also examines various governance problems faced in the post-1997 period.

Hong Kong is again in times of uncertainty and volatility. The city has entered a ‘second transition’ after 2020, and it is undergoing a bigger test than in 1997. After reviewing the past, I opine in the book that Hong Kong has to identify its niche areas, not only in economics. It needs a paradigm shift in how it relates to the Mainland within ‘One Country’ and how it relates to the world as a global metropolis.

The Guangdong-Hong Kong-Macao Greater Bay Area (GBA) Strategy is an important component of the “Belt and Road Initiative” of China. The purpose of this Project is to develop the GBA into the most open, market-oriented and innovative pole of economic growth in China. The GBA Project provides Hong Kong with a rare opportunity to diversify its industrial structure and to move into a new and higher stage of economic development.

Being an integral part of the GBA, Hong Kong is expected and supported by the Central Government to develop into a hub of the Area, and, leveraging on Hong Kong’s status as an international metropolis, to connect the Area as a whole with the world.

China’s Guangdong-Hong Kong-Macao Greater Bay Area Project is a major national development strategy and is a major part of the Belt and Road Initiative. Hong Kong is going to play an important role in the Project and will benefit from it enormously in the future in terms of economic growth and the upgrading of its industrial structure. However, in order to take full advantage of participation in the Project, the way Hong Kong is governed, particularly the government's role in economic development, has to be modified significantly.

In order to take advantage of the Project, the Hong Kong SAR Government has to play a bigger and more proactive role in Hong Kong’s socioeconomic development and to strengthen its capacity to mobilize societal participation in the Project.

The paper aims to recommend legal and regulatory reforms to better prevent child abuse in childcare institutions in Hong Kong.

A summary of investigation report and news reports are referred to in describing the abuse incidents which occurred in a children’s residential home. Routine Activity Theory (RAT) is used as the framework for identifying the causes. Local and overseas legislation, regulations, case law, and policies are analysed to provide recommendations for reforms.

There are systematic failures such as workload issues, inadequate supervision, and the absence of continuing professional development (CPD) that contributed to the incidents. The regulations governing the operation of childcare centres and criminal laws against child abuse are long overdue for an update in Hong Kong. On the institutional side, this paper recommends enacting regulations that mandate CPD, lower the staff-to-child ratio, and strengthen the Social Welfare Department’s (SWD) supervisory powers over childcare centres. From the criminal law perspective, it is recommended that “reasonable chastisement” be abolished as a defence of corporal punishment, and that there be new offences for failure to report suspected child abuse incidents and causing or allowing the death/serious harm of a child.

The child abuse incidents, occurring in a childcare institution, have drawn wide public concern. Reform is required to protect vulnerable children and regain public confidence.

The purpose of this paper is to identify the underlying problems of the recent socio-political disturbance originated from the amendments of extradition law in Hong Kong.

The perspectives of politics and governance are adopted to analyze the current situation.

Three underlying problems are identified, including the existential crisis under “One Country, Two Systems”, the politics of “fear of losing” and the institutional weakness to reform and change under the current system of “Hong Kong people governing Hong Kong”.

The Hong Kong Special Administrative Region Government should take initiatives to address the above problems.

This study aims to extend the literature by extensively investigating the impact of foreign exchange and interest rate changes on the returns and volatility of bank stocks in Saudi Arabia, which is the largest dual banking industry.

This study employs the generalized autoregressive conditional heteroscedasticity (GARCH) model on stock returns of four fully Islamic Saudi banks and eight conventional Saudi banks.

The results showed that the foreign exchange rate return has a positive impact on Saudi conventional bank returns, while it has an adverse impact on Saudi Islamic bank returns. Moreover, a higher interest rate return has a positive impact on Saudi bank stock returns implying that the assets side is more sensitive to changes in interest rates than the liability side. Finally, higher foreign exchange and interest rates volatility increases the volatility of Saudi bank returns, where the former has the largest significant impact. Therefore, Saudi regulators should pay more attention to the risk management of their banks because this could threaten the stability of their financial system.

To the best knowledge of the author, this is the first study that tries to extensively analyze the joint impact of foreign exchange and interest rates on bank stock returns and volatility in Saudi Arabia by applying the GARCH model. The study uses a long data set from 2010 to 2019 that includes all Saudi banks and employs four measures of interest rates to increase the robustness of the results.

The purpose of this paper is to bring out the possibility of selecting good leaders in Asian countries, i.e., China and Singapore.

Since comparative historical analysis enhances the objectivity for academic discussion, Deng Xiaoping’s and Lee Kuan Yew’s leadership successions have been chosen as the cases for studies by virtue of “method of agreement”. Incorporating “argument based on the contrary” into the context for macro-historical analysis, this paper characterises the duo’s successful (at least quite successful) leadership successions, thus offering an alternative paradigm beyond Western-style democracy.

Both cases of post-Mao China and the independent Singapore indicate that in quite a number of Asian countries, good leaders could still be selected beyond universal suffrage as practised among Western Electoral Democracies, mainly because of the elites-driven context. As to the duo’s succession results, Deng Xiaoping’s selection of leaders was somewhat successful, while Lee Kuan Yew’s was phenomenal.

This paper offers readers a glance over the possibility of selecting good leaders in Asian countries not fully based on Western-style democracy. Learning from the duo’s leadership successions, the West may treat elite politics as the supplement under Western Electoral Democracies in order to avoid their countries falling into the trap of populism. The West could meanwhile consider the exceptional criteria prized by the duo for leadership successions. Considering such interactions among elites in the real-life context, it could serve as an alternative model to Western-style democracy.

This paper focuses on governance in higher education in China. It sees that governance as distinctive on the world scale and the potential source of distinctiveness in other domains of higher education. By taking an historical approach, reviewing relevant literature and drawing on empirical research on governance at one leading research university, the paper discusses system organisation, government–university relations and the role of the Communist Party (CCP), centralisation and devolution, institutional leadership, interior governance, academic freedom and responsibility, and the relevance of collegial norms. It concludes that the party-state and Chinese higher education will need to find a Way in governance that leads into a fuller space for plural knowledges, ideas and approaches. This would advance both indigenous and global knowledge, so helping global society to also find its Way.