Hong Kong’s leader ‘doesn’t mind’ Shenzhen’s rise, as central government heaps incentives on mainland ‘model city’
- Carrie Lam says she hopes Hong Kong and Shenzhen can work together rather than compete against one another
- Under a new five-year plan from the central government, Shenzhen has been dubbed the ‘core engine’ of the Greater Bay Area
Speaking ahead of President Xi Jinping’s planned visit to the southern Chinese city on Wednesday, Chief Executive Carrie Lam Cheng Yuet-ngor told a mainland broadcaster that Hong Kong had contributed to, and benefited from, Shenzhen’s rise over the past four decades, and the two cities need not compete against each other in the future.
“Hong Kong allows a free flow of capital and currency exchange; we also have an internationally compatible legal system …This can match Shenzhen’s innovative capacities and advanced manufacturing sector,” she said.
“So I think while competition among corporations and professionals will be healthy and inevitable, the cities may not be directly competing against each other.”
Lam’s interview with Shenzhen Satellite Television was broadcast late Monday night, hours after she travelled to the mainland city. She is set to join Xi at a ceremony on Wednesday morning celebrating Shenzhen’s 40th anniversary as a special economic zone.