News and Policies
Greater Bay Area drives tech development
Updated: Mar 14, 2019
By Shadow Li
China Daily
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'Dream Factory'
Kwok's company, R-Guardian, offers an example of cross-boundary collaboration and the use of the distinct abilities and competitive strengths of the different member cities in the Bay Area.
In 2016, Kwok joined the Qianhai Shenzhen-Hong Kong Youth Innovation and Entrepreneur Hub, dubbed the "Dream Factory". R-Guardian received orders worth 10 million yuan ($1.5 million) for its Bluetooth-equipped smart suitcases, so Kwok established a base in Shenzhen for production and research and development. However, branding and marketing work is still done in Hong Kong.
Kwok is looking to expand his market beyond the Bay Area, with a particular focus on the mainland, where 50 percent of the company's orders originate. He has partnerships with about half of the mainland's 15 biggest luggage manufacturers.
The growing ease with which entrepreneurs from Hong Kong and Macao can operate businesses on the mainland is the result of a raft of policies and incentives designed to encourage the cities' residents to work, live and study on the other side of the border.
More assistance is in the offing. On March 4, Vice-Premier Han Zheng revealed that about 30 new initiatives will be rolled out in the near future, aimed at breaking institutional barriers and facilitating smooth flows of talent, logistics and capital.
Tam Yiu-chung, Hong Kong's sole member of the Standing Committee of the 13th National People's Congress, has called for more policies related to employment, housing, healthcare and banking services to make life easier for people from Hong Kong and Macao who live on the mainland.
Speaking on the sidelines of the two sessions, NPC deputy Pony Ma Huateng, founder of tech giant Tencent, proposed building a development bank and university in the Bay Area to attract capital for the innovation and technology industries, and nurture high-end talent.
Kwok, whose future is intertwined with the Bay Area, sees its development as a springboard to the vast market and unlimited opportunities of the outside world.
