Financial Secretary Paul Chan has told RTHK that boosting infrastructure links between the Northern Metropolis and mainland cities is needed to strengthen connectivity within the Greater Bay Area and better leverage its geographical advantages.

Speaking on RTHK's “On Broadcast Drive” programme, Chan said cross-border rail and road links would make it easier for goods to flow from the southern and western parts of the country to Hong Kong ports, and help promote trade.

“Hong Kong has its own strengths, while other GBA cities have larger application scenarios and complete industrial chains,” he said.

“For example, some embodied intelligence companies told us that if they set up in the Northern Metropolis, they can find any components they need within an hour's reach from Shenzhen."

Chan said the strengths of the SAR, Shenzhen and other GBA cities would complement one another and give the region an advantage that would outstrip the bay areas in San Francisco and New York.

The finance chief explained that the GBA has strengths in multiple areas, including finance, innovation, trade, manufacturing and talent – enabling it to become a major engine to drive economic growth.

Chan also said the government adopts a flexible approach in developing the Northern Metropolis, allowing collaborative development between innovative enterprises and real estate developers.

The government could consider investing in certain projects through the Hong Kong Investment Corporation, he added.

The development of innovative industries in the Northern Metropolis would create new job opportunities, Chan said, that can draw not only from Hong Kong's own talent pool but also from the mainland and international students who've flocked to study in the SAR.

“We are pursuing an integrated development that brings together higher education, enterprises, industries and talent,” he said.

“Over the 10 months or so, we will begin to see the results rolling in – universities moving into the Northern Metropolis, companies starting to recruit staff and begin production. We are positive about this.”

Chan also told RTHK that Northern Metropolis, which covers about one-third of the total area of Hong Kong, could ease the shortage of residential space in urban areas.

He said some residents living in the Northern Metropolis could also work there, sparing them from long commutes.



Edited by Cecil Wong