Business and Industry Partnership to Promote Hong Kong City in the Greater Bay Area

The Hong Kong Federation of Industry and Commerce (Business Federation of Industry and Commerce) proposed to establish a “Hong Kong City" in Guangdong, Hong Kong and Macau, Dawan District, including the construction of a school for Hong Kong or international courses, and a clinic meeting Hong Kong standards. And hospitals. The Industrial and Commercial Banking Association refers to the purpose of giving Hong Kong residents, especially young people, another option so that they can afford home ownership and enjoy Hong Kong-level services at affordable prices. At the same time, Hong Kong has also been able to make good use of the concept of the Greater Bay Area and participate in its development, thus creating a new economic impetus for Hong Kong.

Learn from the experience of Taikoo City

The “Hong Kong City" proposed by the Business and Industry Federation is an integrated community within the “one-hour economic circle" of the Greater Bay Area. Hong Kong residents living in it can live in the Greater Bay Area and continue to enjoy Hong Kong services that they are accustomed to. There will be schools in Hong Kong City that teach Hong Kong or international courses. Medical and dental clinics also meet Hong Kong standards and have Hong Kong-style retail and catering outlets to meet the needs of Hong Kong residents in the community.

The main target of “Hong Kong City" is Hong Kong residents who work in the Tai Wan District and want to buy a home at an affordable price, and build it in a private development mode. The Federation of Trademarks believes that the development of “Hong Kong City" can refer to the experience of Taikoo Shing. It is an integrated community of residential buildings, commercial buildings and shopping malls. It enjoys convenient transportation and is connected to the subway station and directly to the Kowloon Peninsula through the Eastern Corridor. Another successful element of Taikoo Shing is a phased development. The first is to build a large-scale residential project, and then to inject business elements, gradually establishing a perfect combination of retail and high-quality commercial buildings.

The Industrial and Commercial Banking Association pointed out that one of the prerequisites for the implementation of the concept of “Hong Kong City" is that the Guangdong and Hong Kong governments support the policy, including providing convenient customs clearance procedures and special tax arrangements. In terms of site selection, easy access to Hong Kong is a matter of consideration. For example, the Guangzhou-Shenzhen-Hong Kong High-Speed ​​Railway Station near the Great Bay Area, or the Hong Kong-Zhuhai-Macao Bridge. The price of land transfer is limited to a suitable level, for example, a buildable area of ​​about 20,000 yuan per square meter. Due to the different tax system between Hong Kong and the Mainland, it is suggested that “Hong Kong City" needs special taxation arrangements.

Breakthroughs Bring New Opportunities

In addition, the concept of Hong Kong City must also be accompanied by relevant measures to facilitate Hong Kong professionals to work or provide services in Hong Kong City and to promote investment in medical, education and logistics e-commerce in Hong Kong.

According to VictorApps, chairman of the Industry and Commerce Specialties Association, Hong Kong faces problems such as hardships and high housing prices. Resolving these problems requires breaking through the box and participating in the development of the Greater Bay Area will bring new opportunities to Hong Kong. He also pointed out that the Tai Wan District provides opportunities for Hong Kong residents to purchase their own homes at affordable prices and obtain medical and other living needs such as Hong Kong. Children can continue to attend schools that teach Hong Kong or international courses.