Page 194 - 2025 Special Report

Tong Eco recreation and 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
for Chinese mainland innovation and Hong Kong
Special economic zones technology enterprises. At present, the HSITP
have three dominated development directions,
The Lok Ma Chau Loop Hong Kong-Shen- including life sciences, information science and
zhen Innovation and Technology Park materials science and six key innovative areas,
including medical technology, big data and
The Lok Ma Chau Loop (an area south of artificial intelligence, robotics, new materials,
Shenzhen River and near the Lok Ma Chau control microelectronics and FinTech.
point in Hong Kong) was earmarked in March 2017
to be developed into the Hong Kong-Shenzhen By collaborating with the Office for Attracting
Innovation and Technology Park (HSITP) following Strategic Enterprises (OASES) and making use of the
a Memorandum of Understanding signed by the RMB5 billion Strategic Tech Fund as well as the land
Hong Kong and Shenzhen governments in January and space provided for I&T uses starting from 2024
2017 for cross-border collaboration. At 87 hectares, in the HSITP in the Lok Ma Chau Loop, the Hong Kong
it is anticipated to be the largest innovation and government will attract high-quality enterprises
technology platform ever established in the and talent, primarily focusing on industries such as
history of Hong Kong and will act as a key base for life and health technology, artificial intelligence and
cooperation in innovation and technology research data science, as well as advanced manufacturing
to attract top-tier enterprises, research institutions and new energy technology. The goal is to attract
and higher education institutes from Hong not less than 100 high-potential or representative
Kong, the Chinese mainland and the rest of the I&T enterprises to set up or expand their
world. More importantly, the Park has two major businesses in Hong Kong in the coming five years,
connecting areas. One is the adjoining area of the including at least 20 top-notch I&T enterprises,
Loop on the Hong Kong side with 182 hectares of bringing more than RMB10 billion of investment
land, designated as Area B in the development plan. to Hong Kong and creating thousands of local job
This area is two times larger than the Loop (Area A) opportunities ; by 2035, it’s expected to see the
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and is reserved for further development. The other integration of innovation, industry and service and
is the Shenzhen Innovation and Technology Park become a growth engine not only for Shenzhen
located adjacent to the Loop on the Shenzhen side and Hong Kong, but also for the whole GBA .
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(Area C) with a total area of 167 hectares. Both cities
agreed to seek stronger policy support from the
Central Government for the Shenzhen and Hong Summary
Kong Technology and Innovation Cooperation Zone,
which will create cluster and synergy effects. The Hong Kong will consolidate and enhance its
combined area of the three areas amounts to 426 position as a business hub in international finance,
hectares, a size comparable to that of the Hsinchu shipping and trade and adhere to the liberalization
Science Park in Taiwan. It will occupy sufficient of trade and investment. Hong Kong will focus on
space to be developed into a global IT hub. advancing the development of finance, commerce,
trade, logistics and professional services towards
On 6 September 2021, Shenzhen and Hong high-end and high value-added. In addition, Hong
Kong signed the “Cooperation Arrangement on Kong will proactively promote the development of
Promoting the Construction of One Zone and Two the GBA.
Parks” in the Hong Kong-Shenzhen Innovation
and Technology Park (HSITP). It focuses on the 101 The Chief Executive’s 2022 Policy Address, https://
www.policyaddress.gov.hk/2022/public/pdf/policy/
establishment of the Shenzhen Branch of the policy-full_tc.pdf
Hong Kong Science Park and the Greater Bay Area 102 Liaison office of the central people’s government
Inno Academy, to provide resources, training and in the Hong Kong, http://www.locpg.gov.cn/jsdt/2021-
10/14/c_1211404394.htm
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