Beijing should adopt Hong Kong’s free market economy and turn Greater Bay Area into largest free-trade zone in China, says former top Shenzhen official
- Former vice-mayor of mainland city says free movement of money and people can boost area as hotbed of innovation
- Hong Kong’s economic advantages are China’s ‘most important resources’
Zhang Siping, the vice-mayor of Shenzhen between 2003 and 2010, said Beijing should take Hong Kong’s free market economy and duty-free trade systems, and expand them across Macau, and the nine mainland cities in Guangdong province that make up the bay area.
The 64-year-old, speaking at an international forum in Hong Kong on China’s economy and policy, also advocated the free movement of money, people, and technology across a region Beijing hopes to turn into a hotbed of innovation and technological development.
“With the free flow of production elements, the business environment in the Greater Bay Area can be more international, legalised and convenient,” Zhang said.
“Otherwise, the goal to build a world-class city cluster in the area will just be a dream.”