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Hong Kong and other Greater Bay Area cities pledge more cooperation as Beijing’s cross-border powerhouse plan marks fifth anniversary

  • Hong Kong Financial Secretary Paul Chan says stronger links between city’s financial sector and rest of Greater Bay Area being forged
  • Guangdong party chief calls on bay area cities to join forces with Hong Kong and Macau to speed up creation of hub capable of fostering top talent

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The view from the observation deck at the tallest building in Shenzhen. Authorities will  later this month launch the next phase of the cross-border Wealth Management Connect scheme. Photo: Dickson Lee
Hong Kong and other cities in the Greater Bay Area are forging increasingly stronger links among their financial sectors and the southern network should strive to become a beacon for talent to better seize development opportunities, city ministers and Guangdong provincial officials have said.
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The officials were exploring ways to fine-tune Beijing’s plan to create a cross-border economic powerhouse by linking 11 cities and more than 86 million people on the fifth anniversary of the blueprint on Sunday.

Writing on his weekly blog, Financial Secretary Paul Chan Mo-po stressed that collaboration in the bay area had made significant progress, saying: “Whether it is green technology, green finance or overall innovation and technology development, Hong Kong and its sister cities in the Greater Bay Area are met with opportunities for coordinated development and mutual assistance.”

The minister said during an interview with state broadcaster CCTV on Saturday that Hong Kong had delivered an “impressive report card” on bay area development over the past five years.

“The interconnection in the financial sector within the Greater Bay Area is further deepening and expanding, while industry-oriented innovation and technology is bringing new economic impetus and increment to Hong Kong,” he said.

Financial Secretary Paul Chan says stronger links are being forged with the rest of the Greater Bay Area economic zone as the plan marks its fifth anniversary. Photo: Dickson Lee
Financial Secretary Paul Chan says stronger links are being forged with the rest of the Greater Bay Area economic zone as the plan marks its fifth anniversary. Photo: Dickson Lee

Chan argued that Hong Kong’s ability to connect the mainland with the rest of the world was a major advantage, adding: “Different companies can bring in upstream, midstream and downstream companies in their respective categories to form an industrial chain. We will help them find companies to work with.”

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