A major policymaking conference wrapped up in Shenzhen yesterday at which leaders from Hong Kong and Shenzhen declared their intention to “enhance cooperation in science and innovation” by using their “joint resources in the Greater Bay Area.”
A news conference held by Shenzhen Mayor Chen Rugui and Hong Kong Chief Secretary for Administration Matthew Cheung also gave further details about the ambitious Hong Kong-Shenzhen Innovation and Science Park, a project jointly developed by the two cities in the Lok Ma Chau Loop area. The project will focus on boosting joint capabilities in research and development, intellectual property, trade, financing and law.
“The development of the Loop area is in the overall planning and preparatory period, and the city government is applying to the central government to pilot new financial and tax incentives that could benefit Hong Kong and expatriate employees working in the area,” said Chen.
According to Chen, Shenzhen has initiated infrastructure planning for the Loop area. The plan includes reconstruction of Huanggang into a “super checkpoint” with six times the present capacity.