Complementary roles for HK, SZ

August 21, 2019

Financial Secretary Paul Chan:
It appears to me that under the Guangdong-Hong Kong-Macao Greater Bay Area development, the whole idea is co-ordinated development among the 11 cities in the region, so as to achieve synergy in terms of economic development so that all the cities can rise together economically.

Between Shenzhen and Hong Kong, there are strong complementary developments. Say for example, in the area of innovation and technology. Shenzhen has strength in terms of manufacturing, in terms of the supply chain, in terms of having a number of leading tech companies.

But Hong Kong has the advantage of research capabilities in our universities, as well as in our intellectual property protection. So in a nutshell, basically it is up to us to harness these complementary advantages to develop ourselves further.

And as to the financial centre of Hong Kong, we have a few distinct advantages. One is “one country, two systems”, the second is the common law system, the rule of law and an independent judiciary, and the third is the confidence of the international community in Hong Kong.

So I think it is imperative for us to uphold and defend our advantages and make good use of these advantages to achieve greater success.

Financial Secretary Paul Chan today said there are strong complementary developments between Hong Kong and Shenzhen in innovation and technology.

Speaking to the media after attending a radio programme, Mr Chan noted that the development in 11 cities of the Guangdong-Hong Kong-Macao Greater Bay Area will be co-ordinated so that they can rise together economically.

“Between Shenzhen and Hong Kong, there are strong complementary developments. Say for example, in the area of I&T.

“Shenzhen has strength in terms of manufacturing, in terms of the supply chain, in terms of having a number of leading tech companies.

“But Hong Kong has the advantage of research capabilities in our universities, as well as in our intellectual property protection. So in a nutshell, basically it is up to us to harness these complementary advantages to develop ourselves further.”

Mr Chan added that as a financial centre, Hong Kong also has distinct advantages.

“One is ‘one country, two systems’, the second is the common law system, the rule of law and an independent judiciary, and the third is the confidence of the international community in Hong Kong.

“So I think it is imperative for us to uphold and defend our advantages and make good use of these advantages to achieve greater success.”