Since the 18th National Congress of the Communist Party of China, the central government has placed great emphasis on promoting scientific and technological innovation. Talent and technological application are the two key factors in the development of innovation and technology.

The Development Plan for the Shenzhen Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone recently issued by the State Council aims to promote the construction of the Shenzhen Park in the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone with an emphasis on a high-quality, high-standard level of development.

The measures for facilitation outlined in the plan are expected to boost the flow of talent, promote technological cooperation between Shenzhen and Hong Kong, and strengthen the coordinated development and complementary advantages of the Shenzhen and Hong Kong parks. This will provide ample opportunities for professionals and businesses in the field of innovation and technology.

To maximize the role of the Cooperation Zone, improving efficiency in the cross-border flow of talent and logistics between the two regions is crucial.

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The plan proposes a phased and steady implementation approach, starting with a “highly convenient entry and exit” model. This model suggests establishing a “whitelist” system for industries, institutions, and individuals in customs-regulated areas such as the Futian Free Trade Zone. It will implement a “first line” and “second line” management system for the entry and exit of personnel and the movement of goods in customs-regulated areas with specific closed management.

 The “first line” will be established between the customs-regulated areas and Hong Kong, implementing port management and regulating and taxing according to the current regulations on baggage and postal items. This measure will facilitate cross-border exchanges for enterprises and research institutions in the Cooperation Zone. In addition, the implementation of a co-location arrangement for customs clearance at Huanggang Port will reduce travel time for professionals commuting across the boundary, especially researchers and high-level personnel, between the two sides, facilitating the flow of talent and technological cooperation between Shenzhen and Hong Kong.

The Shenzhen Park development plan mentions the establishment of a comprehensive scientific research management system that aligns with Hong Kong and international standards, aiming to attract clusters of leading laboratories and research centers in key disciplines, as well as top enterprise research and development centers from Hong Kong and globally

The Hong Kong Hong Kong Special Administrative Region government announced the launch of a HK$10 billion ($1.28 billion) Research, Academic and Industry Sectors One-plus Scheme in its 2022 Policy Address, which aims to expedite the transformation of university research achievements into commercial products. It also established the HK$5 billion Strategic Tech Fund, along with supporting measures from the Office for Attracting Strategic Enterprises, to attract outstanding companies and talent in industries such as life sciences and health technology, artificial intelligence, and data science to settle in Hong Kong.

The Shenzhen Park development plan mentions the establishment of a comprehensive scientific research management system that aligns with Hong Kong and international standards, aiming to attract clusters of leading laboratories and research centers in key disciplines, as well as top enterprise research and development centers from Hong Kong and globally.

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The plan sets clear development goals for 2025 and 2035, giving enterprises sufficient time to prepare. By aligning with the innovation and technology measures proposed in the Policy Address, the plan can leverage the benefits of the collaborative mechanism of the Cooperation Zone, facilitating funding support for technology innovation companies to establish a strong presence in the market.

The collaboration between Shenzhen and Hong Kong, which will leverage their complementary advantages, is an important part of the national science and technology strategy. As Vice-Premier Ding Xuexiang recently stated, it is necessary to “strengthen the management of the entire chain of scientific and technological innovation, promote better integration of basic research and talent cultivation, give full play to the role of enterprises as the main body of technological innovation, and create a favorable application ecosystem for the transformation of achievements.”

The HKSAR government should promptly discuss the details on cooperation and collaboration with Shenzhen’s authorities, making good use of the advantages of the Cooperation Zone’s “one zone, two parks” arrangement. This will promote deeper cooperation between the two regions in many areas, including enhancing coordination in preferential tax policies, talent subsidies, intellectual property protection, collaboration between higher education institutions in scientific research, and industrialization of outcomes. Leveraging the advantages of connecting professionals and scientific research achievements domestically and internationally, Hong Kong can contribute to the construction of the Greater Bay Area international science and technology innovation center and the advance of the country’s innovation and technology.

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This not only benefits talent exchanges between the two regions but also provides broader development opportunities for local talent in Hong Kong, especially young graduates, ultimately encouraging more young people in Hong Kong to engage in the field of innovation and technology and contribute to the development of the GBA.

Ivan Chu is a member of the Chinese Association of Hong Kong and Macao Studies. Edward Wong is a researcher of Hong Kong Sustainable Development Research Institute.

The views do not necessarily reflect those of China Daily.