To better unleash the Guangdong-Hong Kong-Macao Greater Bay Area’s potential as an economic engine, experts suggested harnessing the complementary advantages of Hong Kong and its neighboring cities to propel the growth of emerging industries and revitalize traditional sectors.
Their call followed the central government’s support of the GBA’s pivotal role in the nation’s pursuit of high-quality development, as outlined in a resolution adopted at the third plenary session of the 20th Central Committee of the Communist Party of China — the blueprint for the nation’s reform and modernization plan.
READ MORE: CPC charts growth blueprint
Experts also rallied behind the resolution’s vision, calling for a closer alignment of rules and mechanisms in the 11-city cluster to foster intercity collaboration.
Guo Wanda, executive vice-president of the Shenzhen-based think tank China Development Institute and vice-chairman of Chinese Association of Hong Kong and Macao Studies, said the resolution shows the central government’s expectation for the GBA to take a leading role in driving high-quality economic development both regionally and nationally.
To achieve this goal, the area needs to evolve into a hub for innovative technology and international talent, while establishing modern industrial clusters.
The Hong Kong Special Administrative Region, in particular, is positioned to drive the new industrialization wave, targeting emerging fields like artificial intelligence and biotechnology. This strategic move is vital to address the city’s historical shortcomings in its manufacturing and industrial structures.
Guo affirmed Hong Kong’s science and technology potential, underscored by its robust research capabilities and abundant scientific talent. However, he emphasized that patents and research results can transform into industrial outcomes only with the support of an equally strong manufacturing sector.
To expedite the process, he suggested that Hong Kong enhance collaboration with fellow GBA cities, which boast robust manufacturing capabilities. He cautioned against interpreting this as a signal for Hong Kong to forgo its manufacturing development. Instead, the city should continue to advance its manufacturing industry — albeit on its current small scale — to ensure comprehensive industrial value chains.
Guo added that Hong Kong’s traditionally dominant industries — such as watchmaking, traditional Chinese medicine, and the food sector — are equally capable of supporting national development, as long as they strive for industrial upgrading, particularly in digitalization, high-end transformation, and smart technologies.
As for aligning mechanisms and rules within the GBA, Guo said he sees this chapter as a commitment to institutional openness and regional integration. He said the move will facilitate the flow of capital and talent, and he encouraged the SAR government, businesses, and young people to seize this opportunity.
Lawmaker Edward Leung Hei said Hong Kong should stick to its historical role as a pioneer in the country’s reform and opening-up, helping the country connect with the international community.
With the coordinated development of the GBA, the city can leverage its advanced scientific research strengths and internationally recognized standards to pursue more technological breakthroughs, he said.
Leung said that the Legislative Council had earlier allocated funds to promote the establishment of the Hong Kong Microelectronics Research and Development Institute to actively invest in the development and trial production of third-generation semiconductor products.
Leung said he believes that with the support of the central government, Hong Kong will contribute to national advancement while elevating its own industrial capabilities.
Kennedy Wong Ying-ho, a lawmaker representing the import and export sector, said that Hong Kong’s established expertise in finance, trade, shipping and aviation, and research is in keeping with the mainland’s rapidly developing sectors, like energy vehicles, lithium batteries, photovoltaic products and the low-altitude economy.
ALSO READ: Leaders: Plenary session injects new impetus into HK economy
Kingsley Wong Kwok, a lawmaker and chairman of the Hong Kong Federation of Trade Unions — the city’s largest labor union — suggested Hong Kong draw inspiration from the mainland governments that have established clear targets in their multiannual action plans. The SAR government needs such plans for GBA integration and top-down strategic guidance, he said.
To deepen GBA cooperation, Kingsley Wong said Hong Kong must reframe its mindset, removing systemic and policy barriers to achieve a smooth connection with the mainland.
He proposed that Hong Kong strengthen cooperation with mainland cities in the fields of medical care, education, and elderly care in the future to achieve complementary advantages. For example, the region can establish more high-end hospitals by combining Hong Kong’s capital and technology resources with the mainland’s spacious facilities.
Brandon Lam contributed to this story.
