CS: HK should go full swing with SZ to build innotech hub

Hong Kong’s Chief Secretary for Administration Matthew Cheung Kin-chung said on Wednesday the city should double down on its efforts to build an international innovation and technology hub with Shenzhen to withstand ever-changing external challenges.

In a social media post, he said Hong Kong should also press ahead with the development of the Guangdong-Hong Kong-Macao Greater Bay Area and seize the opportunities brought about by the nation’s Belt and Road Initiative.

Making the remarks on the same day when Shenzhen is celebrating the 40th anniversary of the establishment of the Shenzhen Special Economic Zone, Cheung envisioned that Hong Kong, given its advantages under the “one country, two systems” policy, could serve as a “two-way gate” to the Chinese mainland and the international market in the new era.

According to the deputy Hong Kong leader, the country has been of strong and reliable support for Hong Kong since its return to the motherland, enabling the city to thrive in terms of economy and people’s livelihoods.

He also expressed his pride in China’s glorious achievements in the new era. The country has made tremendous progress in economic and social development fields after launching reform and opening-up, he said.

China has become the world’s second-largest economy, the largest manufacturing country, the country with the largest foreign exchange reserves and the powerhouse of the world economic growth for more than a decade, said the chief secretary.

The country’s efforts in the global fight against the pandemic stands as another living embodiment of its sense of responsibility, he added.

In his speech at the celebration marking Shenzhen SEZ on Wednesday, President Xi Jinping called for efforts to synergize economic rules and mechanisms in Hong Kong and Macao SARs and Guangdong province to further build up the 11-city Bay Area cluster.

Hailing the call, Tam Yiu-chung, Hong Kong delegate to the Standing Committee of the National People's Congress, said he believed it will reduce conflicts of laws and regulations and help the economy run smoothly inside the Bay Area.

Amid the development of Bay Area, Tam believed Hong Kong and Shenzhen have found a providential opportunity to work together and achieve mutual progress. Shenzhen has taken the lead in the innovation and technology industry after years of industrial transformation, while Hong Kong has a sound foundation in financial services, he said.

Hong Kong’s deputy to the National Committee of the Chinese People's Political Consultative Conference, said teaming up with Shenzhen is the best choice for Hong Kong to further integrate into the Bay Area’s development and explore the Chinese mainland market.

With the recovery of mainland economy following the coronavirus outbreaks, the city’s youngsters should also take the plunge and be out in force – which is how Shenzhen achieved what it has now – to find their opportunities on the mainland, he said.

Lau Siu-kai, vice-president of the Chinese Association of Hong Kong and Macao Studies, said Shenzhen’s successful transformation over the past 40 years despite all the challenges can serve as an inspiration for Hong Kong’s future development.

Hong Kong should get on the bandwagon of developing innovative technology and the creative industry and join hands with Shenzhen to take advantage of the mainland’s development, he said.

Amid a growing hostility and pressure from the western countries led by the US, Hong Kong should rid itself of its reliance on the West and advance its integration into the Bay Area fast to boost its economy as well as fortify the “one country, two systems” principle, said Lau.

A thriving economy with a broader industrial basis will provide for the young generation in Hong Kong to climb up their social ladders and enhance their sense of national identity and belonging to the motherland, he added.

(Source: China Daily)