Shenzhen and Hong Kong will enhance cooperation in science and innovation using the resources in the Guangdong-Hong Kong-Macao Greater Bay Area and in offering services for research and development, intellectual property, trade, financing and law.
It was announced at a news conference held by Shenzhen Mayor Chen Rugui and Hong Kong Chief Secretary for Administration Hon Matthew Cheung after the Shenzhen-Hong Kong Cooperation Conference wrapped up in Shenzhen yesterday.
The Hong Kong-Shenzhen Innovation and Science Park, a project jointly developed by the two cities in the Lok Ma Chau Loop area, is a key project in promoting the international science and innovation center that is highlighted in Guangdong-Hong Kong-Macao Greater Bay Development Outline Plan unveiled by the State Council earlier this year.
Cheung said Hong Kong and Shenzhen can be complementary to each other, as Hong Kong has world-class research capabilities, four world-class universities, a sound law and IP protection system, and an international business environment, while Shenzhen, an innovation-based city, has strong capabilities in transforming research and advanced manufacturing.
Hong Kong will also encourage young people to start businesses in Shenzhen by making use of the incentives, subsidies, guidance and incubation offer by Shenzhen, according to Cheung.
“The development of the Loop area is in the overall planning and preparatory period, and the city government is applying to the Central Government to pilot new financial and tax incentives that could benefit Hong Kong and expatriate employees working in the area,” said Mayor Chen.
The two sides will bring their advantages in science and technology into full play and invigorate economic growth, Chen said.
According to Chen, Shenzhen has initiated infrastructure planning for the Loop area. The plan includes reconstruction of the Huanggang Checkpoint into a super checkpoint with six times the present capacity. It will be a super transport hub and a super complex for innovation.
Shenzhen and Hong Kong signed an MoU in 2017 to jointly develop the Lok Ma Chau Loop area.