Greater Bay Area offers Hong Kong many benefits, but focusing on logistics services would be a mistake
I am writing to express my views on the development of the Greater Bay Area.
Though there are still many tough nuts to crack, Hong Kong stands to gain a lot from the development of the central government’s scheme to link the cities in the Pearl River Delta region into an integrated economic hub. Hong Kong’s role in the initiative is anticipated to be providing professional services such as actuary services, international law consultation and financial services.
However, the enhanced transport links that will develop as a result of the project, such as the recently opened high-speed rail link, could also prompt small and medium-sized enterprises to develop their businesses in mainland China.
Some experts believe Hong Kong should concentrate on providing logistics services as the city already excels in this area. We also have the very busy Hong Kong International Airport, through which goods are transferred to other countries.
However, I disagree with this idea as logistics is a relatively low-value-added industry compared to innovative technology and data analysis. Moreover, the potential for the development of logistics in the other cities of the Greater Bay Area, such as Guangzhou and Shenzhen, is higher.
For example, Guangzhou has just opened a new airport terminal with a third runway and plans to add a fifth runway by 2025. The airport is designed to handle 100 million passengers and 3.5 million tonnes of cargo and mail by 2025. Experts suggest that the Guangzhou airport will eventually overtake Hong Kong’s in terms of passenger numbers.
Nevertheless, if Hong Kong focuses on its core strengths, it stands to reap economic benefits from the Greater Bay Area, which is why, regardless of political stance, the initiative should be supported.
John Hung, Po Lam