Greater Bay Area offers opportunity Hong Kong cannot afford to ignore, business leaders say

With China ‘moving faster than anywhere else in the world’, Hongkongers must ask ‘can we afford not to change?’, according to experts at the Post’s China Conference

City well-placed to connect foreign investors keen to do business in the bay area, creating openings for financial and tech professionals

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(From left) Post China news editor William Zheng is joined by panellists Alicia Garcia Herrero, chief economist for Asia-Pacific at Natixis; Professor Witman Hung, managing director of Qianhai International Liaison Services; and Michael Kwok, chair of Arup East Asia at the second day of the Post’s China Conference. Photo: Xiaomei Chen

Published: 9:19pm, 15 May 2020Updated: 11:35pm, 15 May 2020

Hong Kong cannot afford to ignore the opportunities presented by China’s ambitious plan to develop the Greater Bay Area into a hi-tech economic and business hub, experts at the China Conference organised by the South China Morning Post said on Friday.

The plan aims to connect Hong Kong, Macau and nine cities in southern China, in a region home to about 70 million people and 12 per cent of China’s GDP.

New infrastructure, financial services and technology will not only facilitate the movement of capital, resources and people, but create more opportunities for Hongkongers, panellists said.

Mainland China tech hub Shenzhen plays a key part in the Greater Bay Area plan. Photo: Martin Chan

“China is moving faster than any other part of the world, and Hong Kong people should think about ‘What China can do for us.’ The initiative is good for everyone in Hong Kong,” said Michael Kwok, chair of Arup East Asia, which is developing the company’s business in mainland China.

He said China had been expanding transport infrastructure across the Greater Bay Area, laying the foundation for economic integration and the efficient movement of resources and talent.