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The 'Greater Bay Area' refers to the Chinese government's scheme to link the cities of Hong Kong, Macau, Guangzhou, Shenzhen, Zhuhai, Foshan, Zhongshan, Dongguan, Huizhou, Jiangmen and Zhaoqing into an integrated economic and business hub.
Hong Kong is a microcosm for the future of fintech and the global financial centre for the Asian Century. The Greater Bay Area will consolidate its position as Asia’s financial hub and provide an even stronger case for companies to scale up.
Some are calling for the site to be used for housing, while others argue that the logistics industry provides tens of thousands of jobs; how Hong Kong navigates those two essential needs will be a challenge.
Opportunities to participate in global governance and diplomacy will broaden young people’s horizons and deepen their understanding of China and the world. Hongkongers’ bilingual, bicultural capabilities are unique advantages amid tensions between China and the West.
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.
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.