Greater Bay Area

Hong Kong youth are becoming more positive about the development of the Greater Bay Area in the north

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Guangdong, Hong Kong and Macao are connected by mountains and rivers, and the three places have a long history of people-to-people exchanges and economic ties. With the opening of the high-speed rail and the opening of the Hong Kong-Zhuhai-Macao Bridge, commuting time in neighboring cities has been saved, making cross-border lifestyles such as studying, working, living, and retiring more feasible.

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How to maintain talent competitiveness in the Bridge Era

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The Hong Kong-Zhuhai-Macao Bridge opened to traffic yesterday, connecting Hong Kong and the west coast of the Pearl River Delta. It is the longest cross-sea bridge in the world. It is not an exaggeration to be hailed as the project of the century in the Guangdong-Hong Kong-Macao Greater Bay Area. The new World Economic Forum's "Global Competitiveness Report" is released. Hong Kong is ranked second in the world in terms of infrastructure. It is one of the pillars that keeps Hong Kong competitive in the eyes of the international community. With the opening of the bridge and the high-speed rail, it is expected to catch up in the coming year. Singapore ranks first in infrastructure. However, Hong Kong's overall ranking has remained in the middle and lower reaches of the world's top ten in recent years, with no breakthrough. Innovation capabilities have always been a weakness, and talent is the key.

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Hong Kong’s international trade economy supports the construction of Guangdong Free Trade Zone

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After 40 years of reform and opening up, Deng Xiaoping took the highly open Hong Kong as a model and once said that he would create several "Hong Kongs" on the mainland. When the bonded zone was established in 1990, there was a suggestion to name it a "free trade zone" with reference to international examples, revealing the original intention of pursuing free trade. After several considerations, the Chinese name was finally adopted as "Bonded Zone" with Chinese characteristics, while the English name was changed to "Free Trade Zone". Later, export processing zones, bonded logistics parks, cross-border industrial parks, bonded port areas and comprehensive bonded zones were established, a total of six special customs supervision areas to promote free trade. After many rounds of reforms, China has persisted in its determination to open its market and upgraded its free trade zone, which was dubbed an "experimental" area in recent years. The free trade port is expected to become a touchstone for a new round of opening up.

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The Guangdong-Hong Kong-Macao Greater Bay Area builds a modern industrial system for coordinated development: Hong Kong’s role as an international service hub

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The "Front Shop and Back Factory" model has driven the economic development of the Pearl River Delta and transformed Hong Kong into a world-class service hub. With the rapid development of the mainland's economy, Guangdong has gradually replaced the services provided by traditional Hong Kong companies with local service industries. However, Hong Kong has also developed a high-quality service industry. Looking to the future, through the coordinated development of the modern industrial system, the integration of the Greater Bay Area will shift from vertical integration to horizontal integration, which can generate greater trade and investment. Hong Kong's economic size has its limitations, and we can only win by quality rather than quantity. Hong Kong should focus on developing high value-added trade services and cooperate with other airports in the region to maintain the competitiveness of maritime and shipping services and upgrade to a service hub for regional supply chain management. At the same time, we will seize the opportunity of national financial reform and the rapid economic development of Asia, and cooperate with professional services to become a global financial center. Even if innovation and technology starts slowly in Hong Kong, it can still catch up and eventually realize the Greater Bay Area industrial chain of "created in Hong Kong, trial production in Shenzhen, and mass production in the Pearl River Delta", creating a world-leading international innovation and technology center. In the long run, Hong Kong's role will go beyond finance, professional services, shipping and logistics, and legal arbitration to become a diversified external platform for exerting "soft power" in the country's foreign economic strategy.

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How to overcome internal resistance in the Guangdong-Hong Kong-Macao Greater Bay Area

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The contradiction between China and Hong Kong continues to worsen, and the integration of the two places is aroused. Political issues must ultimately be resolved politically, and repairing the rifts will inevitably require a great reconciliation. The Guangdong-Hong Kong-Macao Greater Bay Area was included in the "Government Work Report" of the State Council. The Hong Kong-Macao Pearl River Delta urban agglomeration will develop collaboratively and take advantage of its geographical advantages to be on par with the economies of world-class bay areas such as the San Francisco Bay Area, New York Bay Area, and Tokyo Bay Area.

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