Hong Kong and rest of Greater Bay Area pledge closer links 5 years into plan
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Hong Kong and other cities in the Greater Bay Area are forging stronger links among their financial sectors and striving to become a beacon for talent. The collaboration in the bay area has made significant progress in areas such as green technology, green finance, and innovation and technology development. Hong Kong's ability to connect the mainland with the rest of the world is seen as a major advantage. Qianhai, an emerging zone in Shenzhen, is hailed as a breakthrough for developing industries such as artificial intelligence and biomedicine. The bay area vision includes joining forces with Hong Kong and Macau to attract high-level, innovative talent from around the world. The next phase of the cross-border Wealth Management Connect scheme will increase personal investment limits and allow for greater policy flexibility in cross-border commerce. Hong Kong plans to boost ties with mainland neighbors and explore its role as a gateway for luring professionals. The bay area's evolution has been affected by the pandemic and challenges facing the mainland and the city. Authorities also plan to help Hong Kong companies explore overseas opportunities through free-trade agreements with member states such as Bahrain, Kuwait, and Peru.
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