Hong Kong Young Writers Anthologies Winners 2020 | Page 35

Hong Kong Young Writers Awards 2020
would also help Macau economically due to Hong Kong’s experience, thus providing its
expertise to further develop Macau’s economy effectively.
The Greater Bay Area provides a much larger stage for Hong Kong’s development.
With greater connectivity between the regions, Hong Kong can better interact with the
surrounding cities and utilize its strengths in sectors such as finance and scientific innovation.
Further, according to the Hong Kong Monetary Authority (HKMA), with the development
of financial services playing an integral role, the development plan supports centralizing Hong
Kong’s status as an international financial center, a global offshore Renminbi business hub,
an international service management center, and a risk management center, which would
subsequently further boost Hong Kong’s economy. In particular, its finance and innovation
sectors would reap huge rewards as more talents from neighbouring cities in the GBA would
be brought in to further development.
The initiative, along with the two recently-launched projects to benefit transportation (the
Hong Kong section of Guangzhou-Shenzhen-Hong Kong Express Rail Link and Hong Kong-
Zhuhai-Macau Bridge) will further interlink cities and areas within the Greater Bay Area
and bring more tourists from the region to Hong Kong. Thus, this will raise revenue in the
tourism sector. For instance, with Macau’s expertise in tourism, the flow of people and trade
is facilitated with the use of the 42km bridge connecting the 3 major regions of the PDR,
which could turn Lantau Island into a tourism and business hub with potential to create jobs
for residents of Tung Chung. The development of Hong Kong as an international innovation
and technology hub is one of the initiative’s priorities, and the Greater Bay Area will provide
a favourable environment for Hong Kong’s scientific and innovative industries to further
develop. The knowledge exchange within the region, particularly with cities like Shenzhen,
would propel Hong Kong to the next level of scientific development. Shenzhen is home to
some of the biggest tech companies worldwide, for example telecommunications firm Huawei
and smartphone maker ZTE, and companies like these would only see positives from the GBA.
The GBA provides an extraordinary opportunity in which cities in the area can be
interdependent and would form a complete and integrated industrial chain for technological
advancement. Hong Kong, strong in both basic scientific research and finance, can play
an integral role in the successful development of the Bay Area which would strengthen its
influence within the region.
In conclusion, with the continuous improvement of connectivity between cities in the
Greater Bay Area, opportunities to expand businesses by leveraging the complementary
strengths of different cities in the area will arise. For example, Hong Kong as an international
finance center and offshore RMB hub leaves it well placed to be at the centre of investment,
financing, and deal and venture capital activity. Our vibrant city can be at the leading edge of
the development of the GBA into a technology and innovation hub by helping to create the
ecosystem that is essential to fostering innovation and entrepreneurship along with greater
business-to-business cooperation. The future is bright for the GBA.
40