Hong Kong-Shenzhen tech zone 'top priority' for SAR innovation

As Chief Executive Carrie Lam Cheng Yuet-ngor vows to double down on the government's commitment to innovation, making it a pillar of the city's economic recovery and post-pandemic vision, experts have called for greater concerted efforts to help Hong Kong jump on the cooperation trail with Shenzhen.

In her fourth Policy Address on Wednesday, Lam championed innovation and technology as critical in helping the special administrative region ride out the storm, saying the government will press ahead with the joint development of the Shenzhen-Hong Kong Innovation and Technology Co-operation Zone.

Fielding Chen Shiyuan, Hong Kong-based senior vice-president of China Construction Bank (Asia), believes the cooperation zone stands as the "priority among priorities" to unlock the potential of innovation for Hong Kong.

"What the cooperation zone means to the Guangdong-Hong Kong-Macao Greater Bay Area, as the mega region looks to develop itself into a world-renowned innovation and technology hub, is comparable to what Hong Kong means to our country at the dawn of the reform and opening-up," he said.

Chan Ching-chuen, Hong Kong's first academician at the Beijing-based Chinese Academy of Engineering, told China Daily the cooperation zone reinforced the theme of integration, which proves to be a keyword of this year's Policy Address.

Citing a recent example of his friend who planned to secure a land for high-tech business in Hong Kong but failed, Chan said the acute shortage of land in the city has long deterred investment and engagement in the local science and technology industry. With a view to establishing "one zone, two parks" at "one river, two banks" under the auspices of "one country, two systems", the cooperation zone combines Shenzhen's land resources and Hong Kong's management style, and should particularly appeal to Hong Kong and foreign tech talents, he reckoned.

"The vibrant tech environment in Chinese mainland - much more vibrant than those of Hong Kong and many major Western countries - spells potentially huge opportunities for those with the foresight to jump on the bandwagon," Chan stressed.

"Many Hong Kong youths are desperately looking for greener pastures elsewhere, yet barely thinking of setting their sights on the Chinese mainland."

"I'm not against Hong Kong talents going abroad. But they definitely should not miss out on the golden opportunities right here under their nose," he added.

Chan believed the rollout of favorable policies is just the first step. More education and promotion work are needed to essentially get them off the ground. Cross-boundary exchange programs or tours, in particular, should be organized to let Hong Kong youths get a taste of Shenzhen's vibrant tech environment.

In a sign of the SAR government's determination to win the global talent war, Lam also proposed launching a Global STEM Professorship Scheme for a period of five years at an estimated cost of HK$2 billion ($258 million).

"Previously, local universities didn't have sufficient resources to set up an attractive startup fund for top-notch overseas researchers to establish laboratories to carry out scientific research in Hong Kong. This has indirectly hindered the city's sci-tech development," said Law Kam-tuen, founding president of the Hong Kong Young Academy of Sciences.

He believes the new initiative could facilitate local universities to attract international science and technology professionals to settle in the city.

Lam also pledged to bankroll big efforts in Hong Kong's smart city ambition. The Smart City Blueprint for Hong Kong 2.0, which contains more than 130 initiatives, will be released next month.

"The smart city vision cannot go without smart government and smart policies. From this point of view, we are going in the right direction," Chan said. "But it's worth noting that the smart city vision on the mainland and many other regions has already translated into real practices rather than an idea on paper. Since Hong Kong unveiled its first smart city blueprint in 2017, little progress has been virtually made. We must press ahead with new initiatives to catch up with our neighbors."