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LettersAbandon Hong Kong arrogance towards mainland, embrace the Greater Bay Area
- If Hong Kong continues to hold a condescending attitude and refuses to make bold changes, it will soon be left behind economically by the mainland
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With reference to “Hong Kong facing critical moment in seizing Greater Bay Area opportunities, warns trading tycoon” (April 22), I agree with Victor Fung’s viewpoint. Hong Kong must concentrate on cooperating with the Greater Bay Area to stimulate its stagnant economy and explore new potential development paths in the post-pandemic era.
The Greater Bay Area – which consists of Hong Kong, Macau and nine cities in Guangdong province – is expected to become an internationally competitive district like New York and the Tokyo Bay Area. Hong Kong, a global financial centre, is likely to benefit economically from the rise of the whole region.
As the Greater Bay Area gains in strength, there will be greater capital flows and international trade between the region and world. Hong Kong will benefit greatly as a global financial centre and transport hub because of its internationally compatible economic and legal systems.
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However, Hong Kong still seems determined to rest on its laurels as an international financial centre and real estate market instead of forging collaborations with mainland cities. Some Hong Kong residents still look down on the mainland, refusing to step out of Hong Kong to seek broader opportunities in the Greater Bay Area.
Witnessing the rapid development of Shenzhen, Guangzhou and other mainland cities, Hong Kong must realise its economic and social superiority is waning. If Hong Kong still holds a condescending attitude and refuses to make bold changes, it will be left behind by the mainland soon.
But if Hong Kong makes up its mind to cooperate with other cities in the Greater Bay Area, it will reap a wider development space which will only help the city at this difficult time. Hong Kong must grasp the opportunity to rise again with the mainland.
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