Delegates and business leaders attending the country's largest annual political gatherings in Beijing this week will bring along their own ideas and proposals, many of which centre on closer ties with the mainland as well as technological advancements.

The annual National People's Congress (NPC) will open on Thursday, while the top advisory body, the Chinese People's Political Consultative Conference (CPPCC), begins a day earlier.

With the 15th Five-Year Plan set to take centre stage this year, local deputies said the SAR should focus on the development of innovation and technology, to align with the country's latest blueprint.

CPPCC Standing Committee member and chairman of the Chinese General Chamber of Commerce, Jonathan Choi, told RTHK that one of his areas of interest is how the SAR could collaborate with other mainland cities in innovation and technology.

"There's a saying that Hong Kong is like the Wall Street, while Shenzhen is the Silicon Valley," Choi said.

"We should focus more on research and development and work closely with Shenzhen and the Greater Bay Area."

Lawmaker and CPPCC member, Johnny Ng, said he plans to suggest ways to sustain the country's technological innovations.

"I would like to recommend a few areas like quantum computing, the space economy, and also Web3.0 and blockchain – how those technology areas can drive new quality productive forces to further improve our economic development... to support the whole country moving forward," Ng said.

Ronick Chan, a lawmaker and NPC deputy, wants to put forward proposals to help facilitate cross-border capital flow.

"I would like to see more mainland companies apply for IPO, that means listing here in Hong Kong, and also to issue their RMB as well as green bonds and even tokenised bonds here in Hong Kong," he said.

Chan also suggested increasing the individual investment quota under the Wealth Management Connect scheme, which enables residents of the Greater Bay Area to invest in markets across the region through a closed-loop funds channel, from the current 3 million yuan to up to 8 million yuan.

Other groups will also be offering their ideas.

Representatives from the DAB will bring more than 20 proposals, including optimising logistics and trade through enhanced port development and inter-modal transport networks within the Greater Bay Area.

The Federation of Trade Unions wants to strengthen connectivity within the bay area, to generate new opportunities in trade, tourism and professional sectors.



Edited by Edmond Fong