After rain comes fair weather! This is exactly the promising prospect that lies ahead for Hong Kong.
However, whether we can create another new golden era for the city depends largely on our pace of participation in the Guangdong-Hong Kong-Macao Greater Bay Area and the Belt and Road Initiative (BRI) in the next five years.
As emphasized in his speech after officiating at the inaugural ceremony of the sixth-term Hong Kong Special Administrative Region government, President Xi Jinping said, “Enjoying the backing of the motherland while staying connected with the world is a notable strength of Hong Kong, a strength cherished by both Hong Kong residents and the central authorities. … The central authorities trust that in the historical course of building a modern socialist country in all respects and achieving the great rejuvenation of the Chinese nation, Hong Kong will have an even greater contribution to make.”
It reveals that the central government has pinned high hopes on Hong Kong, expecting the city to restore its glamour as the most open, dynamic and internationalized city of China in the wake of the economic downturn, political turmoil and deadly pandemic it suffered in the past five years.
Equally, Hong Kong residents also have high hopes on the governance of the John Lee Ka-chiu administration, expecting it to deliver an effective outbreak control, an early resumption of convenient cross-boundary travel between the Chinese mainland and Hong Kong, as well as a long-awaited economic recovery.
On the other hand, the central government has sincere advice for Hong Kong — leveraging as much as it can the role as an important window and bridge connecting the mainland with the rest of the world. This is not only for the country, but it also serves to the benefit of Hong Kong.
People of Hong Kong, especially the younger generation, should deliberate a remark of President Xi in his speech that “the next five years will be crucial for Hong Kong to break new ground and launch a new takeoff”.
Then what platforms can Hong Kong rely on to break new ground and launch a new takeoff? The answers are the vast development opportunities available in the Guangdong-Hong Kong-Macao Greater Bay Area and the Belt and Road Initiative for enterprises, entrepreneurs, professionals and university students of Hong Kong.
This is something President Xi sincerely hopes: that Hong Kong’s younger generation can pursue their careers from a much higher perspective. “In particular, we should care about the young people. When the young people thrive, Hong Kong thrives. When the young people grow, Hong Kong grows. … We should help young people overcome difficulties in education, employment, business startup and home-buying, and create more opportunities for them to grow and shine. It’s our earnest hope that all young people in Hong Kong will join efforts to build a better Hong Kong and write a splendid chapter in their life with their youthful vigor,” he said.
Initiated as early as July 2017, the development of the GBA is a key strategic plan in the country’s development blueprint. It aims at strengthening cooperation among the two special administrative regions of Hong Kong and Macao, and nine major cities in Guangdong province. One example of this is to build on the strengths of Hong Kong’s financial and professional-services sectors, Shenzhen’s high-tech manufacturing and innovation skills, and the manufacturing strengths of the other GBA cities in the mainland. By leveraging the composite advantages of the 11 GBA cities, the city cluster can be developed into an international first-class bay area ideal for living, working and traveling.
Figures speak the truth. The GBA makes up about 56,000 square kilometers with a total population of over 86 million. In 2021, its combined GDP stood at 12.6 trillion yuan ($1.88 trillion), an increase of 2.4 trillion yuan from 2017.
The development of the area should also act as a catalyst for another national gigantic strategic plan — the BRI. The BRI aims to link the countries along the Silk Road Economic Belt (Central Asia to Europe) and the Maritime Silk Road (South Asia to Africa and the Middle East) together by providing financing and related services for their infrastructure projects. The BRI covers more than 60 countries across Asia, Europe and Africa, accounting for 30 percent of global GDP and more than 30 percent of the world’s merchandise trade.
Hong Kong, as the most open and international city offering global financial, transportation, trade, and aviation services in the GBA, together with its excellent infrastructure, networks, talent pools, internationally compatible commercial and legal systems as well as other competitive advantages, can play an important role as a “super-connector” in the GBA and BRI projects.
However, the idea of working on the mainland side of the GBA is not popular among local undergraduates. For those who have just worked for a few years, many of them are neither fond of the idea of starting their careers there, let alone making business trips to the developing countries in Central Asia or Africa for the BRI projects. There are plenty of reasons — unwilling to leave the comfort zone of Hong Kong, misconceptions about the inconvenient facilities and living conditions on the mainland, bias against the central government incited by anti-China forces, and so on.
Whatever justifications the younger generation has for not going to mainland cities in the GBA, one basic fact they cannot deny is that Hong Kong cannot afford to stand still while the rest of the country is advancing rapidly.
Let’s face the reality: Hong Kong, although still a global financial center and an important bridge to link up the country with the rest of the world, is no longer the absolute economic center of the Pearl River Delta Region.
In 2018, Hong Kong’s GDP was overtaken by Shenzhen. Two years later, Guangzhou’s GDP surpassed that of Hong Kong, leaving the SAR today only the third-largest economy in the region. And more and more municipal cities in the GBA are catching up.
Tremendous efforts have been made by the central government and the municipal governments in the GBA to improve steadily the transportation connecting the GBA. A one-hour living circle has been basically formed within the GBA with the completion and operation of the Hong Kong-Zhuhai-Macao Bridge and Guangzhou-Shenzhen-Hong Kong Express Rail Link. A world-class airport cluster and a port cluster are also taking shape.
President Xi’s two-day journey from Shenzhen to Hong Kong back and forth has demonstrated the convenience of working and living in the GBA.
Incentives have also been launched to attract Hong Kong and Macao residents to work there. For example, the Qianhai Special Economic Zone in Shenzhen has recently announced nine new measures, including the offer of 400 low-rent houses and 800 jobs to encourage Hong Kong individuals and companies to work and start businesses there.
Sino-foreign law firms or those jointly run by Guangdong province, Hong Kong and Macao will also be granted 300,000 to 2 million yuan for setting up a business in Qianhai.
The State Council has also recently unveiled a 26-point development document for Nansha, another key development zone in southern Guangzhou, detailing areas like healthcare, employment, education and social welfare that could encourage young Hong Kong professionals to settle in the district.
The transportation, working environment and living conditions on the mainland side of the GBA are improving rapidly. Why not make a trip for a detailed inspection when cross-boundary travel resumes? Remember, the early bird catches the worm!
The author is a member of the Hong Kong Association of Media Veterans and a freelance writer.
The views do not necessarily reflect those of China Daily.