Greater Bay Area

With Covid-19 emptying Hong Kong’s offices and shops, forcing down rents, there is need to take a long, hard look at planned developments and those already under construction

China’s renewable energy industry is poised to make the world’s largest greenhouse gas emitter a carbon-neutral country in less than four decades, and this city will play a key role in seeing it through to reality.

Every Hongkonger who moves away is a loss for family and friends, and for the city. While fewer may leave under the BN(O) visa scheme than Britain predicts, we need to create a better city for new talent and existing residents alike.

While the government’s push to revitalise manufacturing has waned, Covid-19 has shown the importance of diversification. More spending on research, commercialising its findings, and a clear policy direction that takes the Greater Bay Area into account, would help.

Policymakers in the Greater Bay Area should establish a closed-loop regional network within which the free movement of digital goods and services can be carefully monitored.

As the Greater Bay Area becomes a model of the country’s modernisation drive, Hong Kong will play a role in developing global innovation centres of science and technology, connecting China’s domestic and international circulations and as an offshore renminbi market.

While Shenzhen now rivals Hong Kong on some economic indicators, catching up culturally will be harder. Shenzhen must continue to develop its own character and not simply be an abbreviation of Chinese progress.

The government must invest in projects employing local labour, to turn around public sentiment. Hong Kong can’t afford to wait for the free market to act, or for tourists to return. Other priorities include housing and the Greater Bay Area.

The Greater Bay Area is a natural place for our young people to venture into, to take advantage of the opportunities brought about by China’s innovation and entrepreneurship.

The city needs economic diversification, and young Hongkongers can play an active part in its development through sharing the responsibility for change.

Those who want to work on the mainland will go, but the government should not expect a one-off policy to resolve anti-mainland sentiment among Hong Kong youths. Young people need to know the benefits and risks of working on the mainland.

Innovation and technology advancements are crucial for any economy, especially in the new normal after Covid-19. Companies must embrace digital transformation to survive.