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25 March , 2019

"2019 Guangdong-Hong Kong-Macao Co-operation Forum" Greater Bay Area: A New Era of Opportunities

"2019 Guangdong-Hong Kong-Macao Co-operation Forum – Greater Bay Area: A New Era of Opportunities" was held on March 25th 2019 at the Hong Kong Convention and Exhibition Centre. Mr. Kit Szeto, Director and CEO of Dim Sum TV, was invited to attend the forum where HKSAR government officials and experts concerned discussed the development of the Greater Bay Area and explored the role of Hong Kong in the development of the Greater Bay Area.

 Photo of the officiating guests
Photo of the officiating guests

Dr. Jonathan Choi Koon-shum, Chairman of The Chinese General Chamber of Commerce, said in his welcome speech that developing the Guangdong-Hong Kong-Macao Greater Bay Area is a major national development strategy that President Xi Jinping personally planned, deployed and promoted. The "Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area" proposes five strategic orientations, which outlines the development blueprint for the three territories to specifically participate in the construction of the Greater Bay Area and their respective division of labor, including the introduction of Hong Kong, Macao, Guangzhou and Shenzhen as "central cities", and then cooperate with other cities in the Bay area. The strengths of other cities in the Area will build a development pattern of the Bay Area city cluster with clear division of labor and complementary advantages, and jointly explore the future development of Hong Kong and the entire Greater Bay Area, and grasp the major opportunities brought about by the development of the new era of our nation.

 Welcome speech by Dr Jonathan Choi Koon-shum, Chairman of The Chinese General Chamber of Commerce
Welcome speech by Dr Jonathan Choi Koon-shum, Chairman of The Chinese General Chamber of Commerce

Mr. Paul Chan Mo-po, Financial Secretary of the HKSAR, said in his speech that the development of the Guangdong-Hong Kong-Macao Greater Bay Area is a major development strategy for the Country to adhere to Reform and Opening-up in the new era, and it is also a new realization of enriching the development of “One Country, Two Systems” concept. Under the premise of “One Country, Two Systems”, three currencies, and three customs zones, the three-party cooperation among Guangdong, Hong Kong and Macao will inevitably encounter some restrictions. But as long as there be bold innovations, the restrictions due to differences could become an advantage. The Greater Bay Area also provides space for the development of cultural and creative industries. At the same time, it provides a platform for young people who are interested in innovation and entrepreneurship. Under the “One Country, Two Systems”, Hong Kong will become a hub for international creative talents and cutting-edge research centers.

 Speech by Mr. Paul Chan Mo-po, Financial Secretary of the HKSAR
Speech by Mr. Paul Chan Mo-po, Financial Secretary of the HKSAR

Mr. Ye Zhenqin, member of the Standing Committee of the Guangdong Provincial Party Committee, said that the Guangdong-Hong Kong-Macao Greater Bay Area has entered a new stage of comprehensive implementation, while Hong Kong and Macao has special status and unique advantages in the overall development of the Nation. Guangdong Province is a major economic province and the leader of the Nation’s Reform and Opening-up. The development of the Greater Bay Area will further promote the advantages of the three territories in order to create a world-class Bay Area.

 Speech by Mr. Ye Zhenqin, member of the Standing Committee of the Guangdong Provincial Party Committee
Speech by Mr. Ye Zhenqin, member of the Standing Committee of the Guangdong Provincial Party Committee

Mr. Ung Hoi Ian, Deputy Director of the Policy Research and Regional Development Bureau of the Macao SAR Government, pointed out that the development of the Greater Bay Area provides a new starting point and new opportunities for the cooperation among Guangdong, Hong Kong and Macao. As a central city of the Greater Bay Area, the Macao Special Administrative Region will actively exert the advantages of “One Country, Two Systems” and fully participate in the construction of the Greater Bay Area.

 Speech by Mr. Ung Hoi Ian, Deputy Director of the Policy Research and Regional Development Bureau of the Macao SAR Government
Speech by Mr. Ung Hoi Ian, Deputy Director of the Policy Research and Regional Development Bureau of the Macao SAR Government

The forum also invited leaders from different sectors and representatives of enterprises to leave comments and exchange in-depth ideas based on the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area during the talks hosted by Chairman Dr. Jonathan Choi Koon-shum.

Dr. Victor Fung, Group Chairman of the Fung Group, pointed out that under the development opportunities of the Greater Bay Area, the unique positioning of Hong Kong’s “One Country, Two Systems” policy plays an important role under the two major new trends, including global digitalization and supply chain migration to overseas, a large number of Mainland China small businesses will go global along the “Belt and Road” and Hong Kong will become the coordinator of the global supply chain.

Professor Dr. Wang Zhenmin, Director of the Hong Kong and Macao Research Center of Tsinghua University, said that the Greater Bay Area has the characteristics of "One Country, Two Systems and Three Economies" and will be the most complex Bay Area in the world. It is difficult to find existing experiences and models in the world. It must come through institutional innovation and high-tech development to create a world-class Bay Area that is expected by the Central Government.

Mr. Peter Kung, Senior Consultant of KPMG, believes that the state will greatly reduce taxation in support of the development of Greater Bay Area. Regardless of corporate income tax, value-added tax, personal income tax, etc., the implementation of tax rate and taxation environment in the Mainland is better than that of Hong Kong and benefits micro-enterprises and entrepreneurial young people. High-end talents are believed to be attracted to join in the development of the Bay Area.

Mr. Kenneth Fok Kai Kong, Vice President of the Fok Ying Tung Group, said that if we want young people to embrace the development of the Greater Bay Area, it is recommended that the businesses and industries jointly set up a platform for them to establish a communication and cooperation mechanism to increase young people’s sense of participation and fulfillment in the Bay Area so that the Bay Area will become a big stage for them to play their part.

Mr. Hou Feng, Chairman and President of the China Water Environment Group, said that green building in the Greater Bay Area requires innovation in science and technology talents. He believes that in order to create high-quality green development in the Bay Area, it is necessary to co-ordinate sewage treatment, convert sewage into resources, and integrate the advantages of Hong Kong’s financial, water quality and green development.

Dr. Liu Tao, Vice President of Guangdong Lawyers Association, pointed out that the Greater Bay Area will bring closer cooperation to the three territories. The prospects for legal arbitration and dispute resolution in the region will be very impressive. With competition from Singapore and Malaysia interacting with the Mainland more frequently, Hong Kong and Macao need to adopt a more open attitude. It is suggested that arbitration institutions can introduce professionals from the Mainland to achieve a win-win situation. Hong Kong and Macao universities should also fully bring out their advantages and cultivate talents for the three territories.

Dr. Du Lan, Senior Vice President of iFlyTek Co., Ltd., said that 2019 is the year of large-scale application of artificial intelligence. With the development of technology to open up more applications, the Guangdong-Hong Kong-Macao Greater Bay Area could be built as the best demonstration zone of artificial intelligence and application. She believes that the key to this development will be talents. She hopes that technology innovation talents of the three territories will be able to communicate more in the future and create a better Greater Bay Area through artificial intelligence.

Ms. Lo Tak Wah, Managing Director of the Prime Marketing & Promotional Services Co., Ltd, said that the Macao SAR government is vigorously promoting the development of "One Center, One Platform and One Base". Macao will focus on unleashing four functions in the Greater Bay Area, including: (1) Building a foreign exchange platform in the Bay Area, giving full play to the advantages of Macao’s overseas Chinese resources, helping the Bay Area to “Go Out and Lead In”; (2) To exert the advantages of Macau’s world class tourism and leisure development, and jointly create a global tourism and leisure destination with the Bay Area; (3) Accelerating the development of the Chinese medicine science and technology industry platform; and (4) Giving full play to the long-standing advantages of Macao’s cultural exchanges with the West, and work with the Bay Area to expand overseas cultural exchanges and cooperation.

Chairman Dr. Jonathan Choi Koon-shum, who is the host of the talks, also said that the success of Greater Bay Area depending on “One Country, Two Systems”, plus the advantages of the New York Bay, San Francisco Bay Area and Tokyo Bay. He is full of confidence in the future development of the Greater Bay Area.

 (From left) Ms. Lo Tak Wah, Managing Director of the Prime Marketing & Promotional Services Co., Ltd; Dr. Liu Tao, Vice President of Guangdong Lawyers Association; Mr. Kenneth Fok Kai Kong, Vice President of the Fok Ying Tung Group; Dr. Victor Fung, Group Chairman of the Fung Group; Dr. Jonathan Choi Koon-shum, Chairman of The Chinese General Chamber of Commerce; Professor Dr. Wang Zhenmin, Director of the Hong Kong and Macao Research Center of Tsinghua University; Mr. Peter Kung, Senior Consultant of KPMG; Mr. Hou Feng, Chairman and President of the China Water Environment Group; Dr. Du Lan, Senior Vice President of iFlyTek Co., Ltd. exchanges ideas at the forum
(From left) Ms. Lo Tak Wah, Managing Director of the Prime Marketing & Promotional Services Co., Ltd; Dr. Liu Tao, Vice President of Guangdong Lawyers Association; Mr. Kenneth Fok Kai Kong, Vice President of the Fok Ying Tung Group; Dr. Victor Fung, Group Chairman of the Fung Group; Dr. Jonathan Choi Koon-shum, Chairman of The Chinese General Chamber of Commerce; Professor Dr. Wang Zhenmin, Director of the Hong Kong and Macao Research Center of Tsinghua University; Mr. Peter Kung, Senior Consultant of KPMG; Mr. Hou Feng, Chairman and President of the China Water Environment Group; Dr. Du Lan, Senior Vice President of iFlyTek Co., Ltd. exchanges ideas at the forum
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