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 can and should pioneer health and retirement solutions for the ageing Greater Bay Area, given its advanced insurance sector and healthcare reputation.
Universities, the government and businesses must deepen their commitment to creating a sustainable ecosystem for developing talent and encouraging entrepreneurship.
The capital city must improve its coordination with nearby Tianjin and Hebei, and look to the Greater Bay Area tech cluster for lessons. China must also establish outposts of innovation overseas.
Ip wants priority for the cheaper Northern Metropolis project, which will provide homes for five times as many people and a more natural fit given the Greater Bay Area. Given Hong Kong’s budget deficits and a looming global recession, Ip is well justified in demanding that officials examine costs carefully.
Driving from Hong Kong to the mainland remains a luxury limited to a tiny minority of Hongkongers because of the many permits and permissions needed. Such obstacles are also a hindrance to tourism. Visitors might find a trip to Hong Kong more attractive if it could include taking in sights in southern China.
Hong Kong must strengthen its global links, lead the Greater Bay Area integration and educate our young into tomorrow’s pioneers of innovation. It is high time Hong Kong thought more comprehensively about China’s needs, and what we can bring to the table.
Promotion campaign needs to tell world Hong Kong’s vibrancy, opportunities, free flow of information and advantages under ‘one country, two systems’ remain unchanged.
“Chinese modernisation”, a key phrase in Xi Jinping’s recent congress report, holds a promise for the world. A China that stays committed to high-quality development will give a much-needed shot in the arm to the global economy.
As states are increasingly divided into competing blocs, cities rise as hubs that hold together the unravelling fabric of a deglobalising world. Cities’ ability to build and extend new connections will be crucial, and the Greater Bay Area is fertile ground for Hong Kong to do just that.
From moving the Hong Kong government headquarters to the North District to setting up an art tech hub at the border, there are several ways to foster synergy between the two cities. Through collaboration, Hong Kong and Shenzhen could also find their place in the Belt and Road Initiative.
As the pool of DSE graduates shrinks, the government must step in to help such institutions expand enrolment of mainland students and help finance new programmes to teach skills sought-after throughout the Greater Bay Area.
China’s tough line on vice and its zero-Covid approach have hurt Macau’s gaming industry over the past several years and its real estate markets more recently. However, in the long run, Beijing will still prefer a more tightly controlled gambling market on the mainland’s doorstep to a free-for-all across China.
Hong Kong leader was feted when he first joined Weibo but soon got a taste of the power of the mainland China microblogging site when complaints flooded in about the stench from a landfill near the border with Shenzhen.
Business prospects are hurting as more firms see Hong Kong as becoming less competitive relative to other places in the region.
Hong Kong is likely to evolve into a North-South commercial corridor with two anchor cores. Tech firms will relocate to the Northern Metropolis and the financial sector will stay in Harbour Metropolis.
Attractive policies are urgently needed to stem the tide of talent flowing to Singapore and Shenzhen and to nurture an industry-ready local talent pool. Dialogue between academia and industry must be enhanced to commercialise university research outcomes.
On the mainland, a strong focus on research, and entrepreneurial spirit within academia have driven the country’s success as a breeding ground for innovation. In Hong Kong, technology development has been sluggish and entrepreneurship is less encouraged among university researchers. This must change.
Many tech start-ups that drive the economy remain in pre-profit, which hinders mainboard listing and access to needed R&D funds. Listing reforms can unlock this potential and meet Hong Kong’s financial and tech hub goals.
From convincing Chinese tech giants to move their headquarters to Hong Kong to capitalising on the Northern Metropolis’ strategic location, there is much the city can do as part of the Greater Bay Area. Hong Kong must also reckon with young people’s changed career expectations and ensure they have the skills to access opportunities.