MR CHAN KIN-POR (in Cantonese): Thank you, President. In December last year, the Central Authorities successively promulgated three important plans relating to the Greater Bay Area (“GBA”). Among these plans, the Three-year Action Plan for the Development of International First-class Business Environment in the Guangdong-Hong Kong-Macao Greater Bay Area (“the Three-Year Plan”) outlines the primary objectives of GBA’s development, with the aim of establishing a business environment system that aligns with international standards in three years’ time. It also aims to foster a world-class level of business environment which is market-oriented, internationalized and underpinned by the rule of law and occupies a leading position in terms of international competitiveness. Putting forward 24 specific measures in seven major areas, the Three-Year Plan not only provides clear action guidelines for GBA, but also drives its development with enhanced speed and efficiency. I would like to thank Ms YUNG Hoi-yan for proposing the motion, which gives this Council an opportunity to discuss the development planning for GBA.
As a mega project, the development of GBA faces a large number of challenges which have to be tackled, including market systems, mutual recognition of laws and regulations, capital flows, enterprise access, talent pooling, regulatory compliance, integration of places and construction planning. Time is needed in promoting the development of GBA, but the progress has been hindered by the three-year epidemic. On the other hand, due to the differences in the systems of Hong Kong and Guangdong, there are a lot of technical problems that need to be addressed when promoting market connectivity, especially the financial markets, such as market access, cross-boundary practices, mutual recognition of regulatory requirements, fair competition, and size of capital. Therefore, the Three-Year Plan has explicitly urged the further deepening of cooperation among Guangdong, Hong Kong and Macao, and put forward specific measures to promote the development of GBA with enhanced speed and efficiency, with a view to achieving concrete results in three years’ time. Although this is an extremely difficult task, as long as all the cities in GBA can work together and strive to overcome all the difficulties, we will certainly be able to accomplish the tasks entrusted by the Central Authorities.
As mentioned in the 24 measures, GBA will strengthen its ability in attracting foreign investment and its competitiveness in going global, which is in fact in concert with Hong Kong’s strategy of developing “headquarters economy”. The proposal of “headquarters economy” has now been elevated to an important agenda of GBA, and it has even become a national policy endorsed by the Central Authorities. Hong Kong, as a “super-connector”, is expected to play a pivotal role in this regard. We must formulate a comprehensive development strategy to make contribution to GBA. I have already put forward specific proposals to the Government, so I am not going to repeat them today. In addition, I am also concerned about the interconnectivity of financial markets. The Three-Year Plan mentioned the need to take forward the establishment of insurance after-sales service centres in GBA. In fact, compared with other financial sectors, the insurance industry is really lagging behind in entering GBA. Accelerating the development progress has been the common wish of the industry.
Lastly, I would like to talk about the integration of cities. People in Guangdong and Hong Kong have been separated for a long time. Even if Hong Kong people travel north for spending frequently, and Mainland residents visit Hong Kong under the Individual Visit Scheme, the purpose is limited to leisure travel. There is no real communication between the people of the two places, resulted in deepening conflicts in daily life. Failing to strengthen the bonds between the people of both places would make it difficult to achieve integrated development of the cities, not to mention promoting the integration of GBA.
As a matter of fact, it is not uncommon to come across criticisms or negative descriptions made by Mainland residents, including those in GBA, about Hong Kong on platforms like “Xiaohongshu”. Such criticisms may involve dissatisfaction with the service attitude of Hong Kong people or doubts about Hong Kong’s status as a financial centre. These may be isolated cases or misunderstandings, but we still have to reflect on ourselves. Meanwhile, some Hong Kong people hold negative feelings towards Mainland residents. For example, recently, some individuals who came to Hong Kong under the Top Talent Pass Scheme have arranged for their children to enrol in prestigious schools in Hong Kong under the Direct Subsidy Scheme, arousing the concern of Hong Kong parents about possible intensified competition. The Hong Kong Government must deal with these problems to ensure that there are sufficient school places.
Conflicts between the two places are inevitable, but the governments of both places should not take them lightly and must eliminate them promptly to avoid deepening misunderstanding. The Government should also make more efforts in facilitating the integration of the two places. For example, the Financial Secretary’s earlier visit to the Hong Kong Brands and Products Expo with mainland KOLs (key opinion leaders) to tell Hong Kong’s story well serves as a good example. Besides, many youth groups, education organizations and leisure and cultural organizations have been organizing tours to GBA regularly, but they are not for the general public. It is suggested that the Government should subsidize community organizations to organize more tours, visiting places like Huawei’s headquarters in Dongguan and Huawei Ox Horn Campus, so that members of the public can broaden their horizons and increase exchanges, thereby achieving the goal of fostering people-to-people bonds.
Thank you, President.