Great things for Greater Bay Area
Innovation and tech hub in the works to boost economy
BEIJING: China is committed to developing an international innovation and technology hub in the Guangdong-Hong KongMacau Greater Bay Area, which will serve as a leading force for national innovative development, the country’s top economic regulator said.
“To develop a vibrant and internationally competitive firstclass bay area, the primary task is to build an international innovation and technology hub. And it will take the lead in driving the innovative transformation and innovative development in the Pearl River Delta,” said Luo Wen, vice-chairman of the National Development and Reform Commission.
More efforts are needed to build the work mechanism, deepen the reform of innovation systems and mechanisms, implement a number of high-level innovative projects and deepen reform and innovative co-operation in the Greater Bay Area, Luo said at a State Council Information Office news conference on Thursday.
Luo proposed to make a big push to develop the Greater Bay Area in four respects.
The first is to build a team to make plans for the establishment of the international innovation and technology hub.
The second is to support Guangdong province, Hong Kong and Macau in strengthening the co-ordination of policies in areas such as intellectual property protection, market regulation, financial technologies, talent cultivation and the commercial application of technological achievements.
The third is to focus on building a number of major technological infrastructure facilities, cross-study platforms, as well as emerging innovative research in the Greater Bay Area.
The fourth is to remove barriers that hinder the free flow of talent, technologies, capital, equipment, information and other innovative elements in the Greater Bay Area.
The Greater Bay Area encompasses Hong Kong, Macau and nine cities in Guangdong province, including Guangzhou and Shenzhen.
Covering more than 56,000sq km, it is an enormous market with a population of 70 million and a gross domestic product of US$1.5 trillion (RM6.1 trillion).