Stability and prosperity

Experts also believe the just-concluded polling offers a strong guarantee for the SAR's lasting stability and prosperity.

To ensure the quality of lawmakers, all election candidates received strict scrutiny from the Eligibility Review Committee to check whether they uphold the Basic Law and swear allegiance to the Hong Kong SAR. Among the 154 nominations, 153 were ruled valid, while one candidate was disqualified for holding a government post.

Tang, the business leader, said the improved mechanism helps elect high-quality, capable, committed and loyal patriots to seats in the Legislative Council, who shoulder great responsibility in serving the public well.

By firmly upholding the "patriots administering Hong Kong "principle, the new system also excluded those who aim to undermine the interests of the Hong Kong SAR and the mainland, and thus contributed to the stability of the legislature's future operation, he said.

Instead of creating a homogenous political environment, the new election system encourages political diversity and offers a broad stage for candidates to show their talent, Tang said.

Grenville Cross, senior counsel and former director of public prosecutions in Hong Kong, believes that under the revamped system, the elected lawmakers will be trustworthy and put Hong Kong and national interests first. All of them can be relied upon to promote the "one country, two systems" policy and to make Hong Kong a better place.

After the election, the government will also be able to work with LegCo to resolve long-standing problems and avoid mindless politicking launched by destabilizing forces that led to the social unrest in 2019, he said.

A political environment that prioritizes good governance and social stability will also provide investors with the positive business climate they need, and will enable them to benefit fully from the nation's 14th Five-Year Plan (2021-25) and the Guangdong-Hong Kong-Macao Greater Bay Area development, Cross said.

Wong, the economist and Education University of Hong Kong Council chairman, said the latest revamping of the electoral system represents the most "important and sweeping" change since the establishment of the Hong Kong SAR, as it has redressed the core problem of the old system, which produced a LegCo that was ineffective in solving problems of great concern to the public.

He believes that in the future, LegCo will be well represented by legislators who are knowledgeable in their respective fields and will serve with the broader public interest in mind.

"We can look forward to constructive policy debates that will ultimately help bring about better governance for Hong Kong. In that, I think Hong Kong will get the kind of vibrant democratic system that will serve its people well," he added.