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The View
Opinion
Richard Harris
Richard Harris

The View | The Greater Bay Area is the right thing for Hong Kong and China – if it has all the right connections

  • If the Greater Bay Area has uniform pricing in key areas, a smart permit system and fast train links, it will be a benefit to all involved – Hong Kong included

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A general view of Shenzhen Bay Bridge, which connects Shenzhen to the Hong Kong Special Administrative Region. Photo: Roy Issa
Richard Harris
They were fine words from China’s State Council: build a “Greater Bay Area”. That’s easy to say – but not so easy to execute. But that’s the prerogative of the boss; lay down the vision and get everyone else to do the hard work. 
China is keen on grandiose schemes. It’s high-speed rail network is a wonder of the world and will keep China’s economy humming for the next 100 years. The “bridge to nowhere” was ill-conceived from the start; bridges are built to link to two underdeveloped places – not Hong Kong, Macau, Zhuhai and the South China Sea. They do say that half the money spent on infrastructure is wasted, you just don’t know which half.

The bay is an overwhelmingly good idea, even though there is no doubt that it is an effort to keep the Hong Kong powerhouse in check. We are the biggest and by far the richest economy in the bay with just over 10 per cent of the people; educated, trained and globally connected, we are a great resource for China.

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China needs a closer Hong Kong as a gateway to the world – increasingly important as China battles a toxic reputation for protectionism and lack of copyright reputation. It certainly has overtones of political ingress by the “one country” into the Hong Kong system. Guangzhou, too, will be worried about closer links lifting Hong Kong to the top of the bay. Then again, the sovereign power comes from Beijing and we’d all better get used to it.

It works both ways. Hong Kong will only be useful as China’s gateway to the world if its current rule of law, free flow of information, relative freedom of speech and open capital account are preserved. Cut that and you cut the neck of the golden goose.

What’s in it for us? Parts of the Hong Kong economy can benefit from a little open competition. The bay has a vast population of educated, experienced, talent, with more hunger than our local employees. They can still live in China and work for Hong Kong companies but it will work better with more integration.
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