Trade war puts dent in Beijing’s plan to turn Hong Kong and surrounding cities into new Silicon Valley
Announcement delayed to avoid backlash similar to reaction from Washington to Made in China 2025 plan
A source with knowledge of the matter said the announcement was delayed so as to avoid being further targeted by the United States, taking lessons from its “Made in China 2025” plan, which Washington treats as an all-out challenge.
Details of the proposed Greater Bay Area, a master plan to integrate Hong Kong, Macau and nine cities in Guangdong into an innovation powerhouse, were expected to be released early this year.
During the national parliamentary meetings in March, Chinese Premier Li Keqiang said the plan would be rolled out “very soon”. However, the release has yet to be confirmed nearly five months later.
“The trade war is a key factor,” a source close to Beijing said. “Look at how the rosy projection of the 2025 plan is being targeted by the US.”