Page 180 - 2024 Special Report on the State of Business in South China
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Bay/Yan Chau Tong Eco recreation/tourism Circle. side (Area C) with a total area of 167 hectares. Both
The concept of Twin Cities, Three Circles covers cities agreed to seek stronger policy support from
the Shenzhen Hong Kong Boundary Control the Central Government for the Shenzhen/Hong
Points Economic Belt and the most maturely Kong Technology and Innovation Cooperation
developed metropolitan core in Shenzhen, as well Zone, which will create cluster and synergy effects.
as the Northern Metropolis in Hong Kong where The three areas encompass a total area of 426
the development potential is enormous with hectares, of similar size to the Hsinchu Science
resources for urban development being speedily Park in Taiwan. It will occupy sufficient space to be
pooled in. Among them, the Shenzhen Bay Quality developed into a global IT hub.
Development Circle is located in the northwest
of Hong Kong, and is connected to Qianhai to On 6 September 2021, Shenzhen and Hong
promote the development of high-end enterprises; Kong signed the “Cooperation Arrangement on
the Hong Kong-Shenzhen Close Interaction Circle Promoting the Construction of “One Zone and
is located closely around Hong Kong’s Gudong Two Parks” in the Hong Kong-Shenzhen Innovation
North and the Hong Kong-Shenzhen Innovation and Technology Park (HSITP). It focuses on the
and Technology Park, which can be connected to establishment of the Shenzhen Branch of the
the Liantang Internet Industry Cluster, to enhance Hong Kong Science Park and the Greater Bay Area
the innovation cooperation; the Mirs Bay/Yan Chau Inno Academy, to provide resources, training and
Tong Eco recreation/tourism Circle is expected talent for both Shenzhen and Hong Kong . The
to be optimized into a protected area to increase collaboration also includes the establishment of
ecological value. Greater Bay Area Innovation and Technology Inno
Express to offer business development support
Special economic zones for Chinese mainland innovation and Hong Kong
technology enterprises. At present, the HSITP
The Lok Ma Chau Loop Hong Kong-Shen- have three dominated development directions,
zhen Innovation and Technology Park including life sciences, information science and
materials science, and six key innovative areas,
The Lok Ma Chau Loop (an area south of including medical technology, big data and
Shenzhen River and near the Lok Ma Chau control artificial intelligence, robotics, new materials,
point in Hong Kong) was earmarked in March 2017 microelectronics and FinTech.
to be developed into the Hong Kong-Shenzhen
Innovation and Technology Park (HSITP) following By collaborating with the Office for Attracting
a Memorandum of Understanding signed by the Strategic Enterprises (OASES) and making use
Hong Kong and Shenzhen governments in January of the RMB5 billion Strategic Tech Fund as well
2017 for cross-border collaboration. At 87 hectares, as the land and space provided for I&T uses
it is anticipated to be the largest innovation and starting from 2024 in the HSITP in the Lok Ma
technology platform ever established in the Chau Loop, the Hong Kong SAR government
history of Hong Kong and will act as a key base for will attract high‑quality enterprises and talent,
cooperation in innovation and technology research primarily focusing on industries such as life and
to attract top-tier enterprises, research institutions health technology, artificial intelligence and data
and higher education institutes from Hong science, as well as advanced manufacturing and
Kong, the Chinese mainland and the rest of the new energy technology. The goal is to attract not
world. More importantly, the Park has two major less than 100 high‑potential or representative I&T
connecting areas. One is the adjoining area of the enterprises to set up or expand their businesses
Loop on the Hong Kong side with 182 hectares of in Hong Kong in the coming five years, including at
land, designated as Area B in the development plan. least 20 top‑notch I&T enterprises, bringing more
This area is two times larger than the Loop (Area than RMB10 billion of investment to Hong Kong
A) and is reserved for further development. The and creating thousands of local job opportunities95;
other is the Shenzhen Innovation and Technology
Park located adjacent to the Loop on the Shenzhen 95 The Chief Executive’s 2022 Policy Address,
https://www.policyaddress.gov.hk/2022/public/pdf/
policy/policy-full_tc.pdf
180
The concept of Twin Cities, Three Circles covers cities agreed to seek stronger policy support from
the Shenzhen Hong Kong Boundary Control the Central Government for the Shenzhen/Hong
Points Economic Belt and the most maturely Kong Technology and Innovation Cooperation
developed metropolitan core in Shenzhen, as well Zone, which will create cluster and synergy effects.
as the Northern Metropolis in Hong Kong where The three areas encompass a total area of 426
the development potential is enormous with hectares, of similar size to the Hsinchu Science
resources for urban development being speedily Park in Taiwan. It will occupy sufficient space to be
pooled in. Among them, the Shenzhen Bay Quality developed into a global IT hub.
Development Circle is located in the northwest
of Hong Kong, and is connected to Qianhai to On 6 September 2021, Shenzhen and Hong
promote the development of high-end enterprises; Kong signed the “Cooperation Arrangement on
the Hong Kong-Shenzhen Close Interaction Circle Promoting the Construction of “One Zone and
is located closely around Hong Kong’s Gudong Two Parks” in the Hong Kong-Shenzhen Innovation
North and the Hong Kong-Shenzhen Innovation and Technology Park (HSITP). It focuses on the
and Technology Park, which can be connected to establishment of the Shenzhen Branch of the
the Liantang Internet Industry Cluster, to enhance Hong Kong Science Park and the Greater Bay Area
the innovation cooperation; the Mirs Bay/Yan Chau Inno Academy, to provide resources, training and
Tong Eco recreation/tourism Circle is expected talent for both Shenzhen and Hong Kong . The
to be optimized into a protected area to increase collaboration also includes the establishment of
ecological value. Greater Bay Area Innovation and Technology Inno
Express to offer business development support
Special economic zones for Chinese mainland innovation and Hong Kong
technology enterprises. At present, the HSITP
The Lok Ma Chau Loop Hong Kong-Shen- have three dominated development directions,
zhen Innovation and Technology Park including life sciences, information science and
materials science, and six key innovative areas,
The Lok Ma Chau Loop (an area south of including medical technology, big data and
Shenzhen River and near the Lok Ma Chau control artificial intelligence, robotics, new materials,
point in Hong Kong) was earmarked in March 2017 microelectronics and FinTech.
to be developed into the Hong Kong-Shenzhen
Innovation and Technology Park (HSITP) following By collaborating with the Office for Attracting
a Memorandum of Understanding signed by the Strategic Enterprises (OASES) and making use
Hong Kong and Shenzhen governments in January of the RMB5 billion Strategic Tech Fund as well
2017 for cross-border collaboration. At 87 hectares, as the land and space provided for I&T uses
it is anticipated to be the largest innovation and starting from 2024 in the HSITP in the Lok Ma
technology platform ever established in the Chau Loop, the Hong Kong SAR government
history of Hong Kong and will act as a key base for will attract high‑quality enterprises and talent,
cooperation in innovation and technology research primarily focusing on industries such as life and
to attract top-tier enterprises, research institutions health technology, artificial intelligence and data
and higher education institutes from Hong science, as well as advanced manufacturing and
Kong, the Chinese mainland and the rest of the new energy technology. The goal is to attract not
world. More importantly, the Park has two major less than 100 high‑potential or representative I&T
connecting areas. One is the adjoining area of the enterprises to set up or expand their businesses
Loop on the Hong Kong side with 182 hectares of in Hong Kong in the coming five years, including at
land, designated as Area B in the development plan. least 20 top‑notch I&T enterprises, bringing more
This area is two times larger than the Loop (Area than RMB10 billion of investment to Hong Kong
A) and is reserved for further development. The and creating thousands of local job opportunities95;
other is the Shenzhen Innovation and Technology
Park located adjacent to the Loop on the Shenzhen 95 The Chief Executive’s 2022 Policy Address,
https://www.policyaddress.gov.hk/2022/public/pdf/
policy/policy-full_tc.pdf
180
