Can Hong Kong integrate with China’s Greater Bay Area? Start-ups, researchers upbeat on potential despite Covid-19 hurdles

Entrepreneurs and professionals say Beijing’s measures to cut red tape, encourage start-ups and get young people to move have helped

Technology and professional services sectors have gained most from changes over past three years

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Hong Kong entrepreneurs have become optimistic about business prospects in mainland China’s Greater Bay Area. Illustration: Brian Wang

Published: 7:30am, 18 Feb 2022Updated: 9:43am, 18 Feb 2022

It has been three years to the day since Beijing announced the ambitious Greater Bay Area Outline Development Plan. In the first of a two-part series, Tony Cheung examines how Hong Kong has integrated with the region so far, and what lies ahead.

Hong Kong entrepreneur Ronald Tse Chi-hang, 39, remembers the difficulties he faced after co-founding healthtech start-up MVisioner in Shenzhen in 2015.

The company aimed to use virtual reality and artificial intelligence technology to develop software and new platforms for doctors and their patients.

But the registration of new medical technology systems was centralised in Beijing, the process was slow, and it could take a year or two for a new product to be cleared for use in mainland Chinese hospitals.

“The taxation and many other policies were unfavourable to Hong Kong people, so we could hardly hire any Hongkongers even though we interviewed many candidates,” he recalled.

Then came Chinese Premier Li Keqiang’s 2017 annual work report, in which he spoke about bringing Hong Kong and Macau closer to Guangdong province and mentioned “the Greater Bay Area” for the first time.