TAIPEI (The China Post) – The Guangdong-Hong Kong-Macao Greater Bay Area (Greater Bay Area, 粵港澳大灣區) brings together the two Special Administrative Regions of Hong Kong and Macao and nine municipalities in Guangdong Province.
The project, which covers an area of 56,000 square kilometers, has a combined population of over 69 million people and GDP of around US$1.5 trillion – something comparable to that of Tokyo Bay Area and New York Metropolitan Area.
More importantly, the Guangdong-Hong Kong-Macao Greater Bay Area will provide great opportunities for local youths, according to Kennedy Wong, a member of the special administrative region’s election committee.
“The ‘Greater Bay Area’ has a vast hinterland, huge market, and goof infrastructures for technology transfer and application,” explained Wong. “If you have new scientific research results in Hong Kong, it is unrealistic to immediately put such technology achievements into practice overseas.”
With the board room for high-tech innovation provided by the “Greater Bay Area,” however, Wong remarked that young people will have more opportunities.
“This will change the development paths of many youths,” he said, expressing hopes that top enterprises like Huawei and Tencent will contribute to the development of the “Greater Bay Area” in the future.
The Greater Bay Area for sure aims to harness the collective strengths of the region through coordinated economic development, with innovation and technology as a key focus.
With a wealth of talent and professionals in I&T as well as financial, legal and professional services together with its positioning as Asia’s world city, Hong Kong will play a prime role in taking forward the Greater Bay Area Development.
Hong Kong’s business-friendly environment, low taxes, rule of law, free economy, modern infrastructure, I&T capabilities, and robust intellectual property protection will all help businesses and individuals to connect and excel in this exciting new global economic zone.
“Hong Kong is a modern and advanced society, but there aren’t many local born and bred companies,” he stressed.
“In innovation and entrepreneur hubs such as the ‘Greater Bay Area,’ I am confident that young people will have boundless creativity to unleash their talents,” he concluded.
The China Post staff