Earlier this month, Guangdong provincial government issued a notice outlining new policy initiatives and measures to further facilitate technological innovation in the Guangdong-Hong Kong-Macao Greater Bay Area.
In my opinion, the notice effectively marks the beginning of a new phase of attempts for thorough and in-depth integration of various cities in the Greater Bay Area.
According to the document, the nine Guangdong cities within the Bay Area will establish at least one base for young people from Hong Kong and Macau to found tech and innovation startups.
Meanwhile, technology projects carried out in Guangdong will also be open to Hong Kong and Macau.
Under the new measures, Hong Kong and Macau tech talent as well as foreign high-level tech talent working in Guangdong can be expected to receive more subsidies in income tax, as well as a set of more favorable retirement and insurance policies.
Moreover, the province is going to provide Hong Kong and Macau tech enterprises with more subsidies to help them in relation to research and development costs.
Undoubtedly, the notice has demonstrated the resolve of the Guangdong government to work toward the establishment of an international tech innovation hub within the Greater Bay Area.
It also reflected the innovative and responsible spirit of Guangdong as a trailblazer in the country’s reform and opening up.
And, it is testimony to the importance attached to the development of high-end and new technology industries by Guangdong authorities, as well as support to Hong Kong and Macau, and the efforts to leverage “one country, two systems”.
As the new policy initiatives and measures are implemented, Guangdong’s high-end and new technology industries will be geared towards the education sectors and enterprises of Hong Kong and Macau.
One can also expect that exchanges and collaboration among talents in the innovation and tech industries in the Greater Bay Area would be substantially enhanced, and that more world-class innovation and tech enterprises, talents and educational institutions would be willing to explore new opportunities in Guangdong.
In future, demand for tech talent and firms in the Greater Bay Area will be enormous.
As far as young people of Hong Kong and Macau are concerned, the Greater Bay Area will present huge career opportunities as well as an unrivaled stage for them to showcase their talents.
As such, if you are really determined to seize the gigantic career and business opportunities in innovation and tech presented by the Bay Area, the first thing you need to do right now is to go through the notice published by the Guangdong government seriously and thoroughly.
This article appeared in the Hong Kong Economic Journal on Jan 24
Translation by Alan Lee
[Chinese version 中文版]
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