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Hong Kong should embrace the Greater Bay Area

出自香港新聞網 - 樹仁新傳系學生實習習作

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Reported by Lam Sin Sze 165060, published on 11, September 2018

Jefferson Wat, the President of SME Global Alliance, treated the Guangdong-Hong Kong-Macao Greater Bay Area (Bay Area) as a golden opportunity for Hong Kong to expand its power. “The competitiveness of Hong Kong would not be undermined by other cities. On the other hand, Hong Kong would benefit from the cooperation.” Wat said.

Wat said many new entrepreneurs would like to start their business in the nearby mainland cities like Shenzhen and Guangdong, rather than foreign countries like the U.S. As the Hong Kong people and mainland people share the same languages, Chinese, it is easier for Hong Kong people to communicate with them. Some mainland people even can communicate with Hong Kong people by using Cantonese.

Some people concerned the competitiveness of Hong Kong would be weakened because of the Greater Bay Area. Wat disagreed. He thought the investors would like to expand their business in Hong Kong than other cities because the business environment is better in here. The advantages of Hong Kong are the legal system and low tax rate which are beneficial to business development. In Hong Kong, the enterprises are more familiar with the international economic norms, unlike the enterprises in the mainland China. Thus, Hong Kong could be the connection between the foreign companies and the mainland China companies, which cannot be replaced by other cities.

Wat also encouraged Hong Kong people to be more aggressive and come out from the comfort zone. Hong Kong people should grasp the opportunities provided by the Greater Bay Area. However, Hong Kong entrepreneurs may struggle with the legal, cultural and political differences between Hong Kong and mainland China. Thus, Was suggested Hong Kong entrepreneurs cooperate with a mainland partner. Under the division of labour, the mainland China partner can deal with the legal work and documents which are more familiar to them. Hence, the efficiency would be improved. “It would be a win-win situation for both mainland people and Hong Kong people.” Wat said.

--165060 2018年9月12日 (三) 18:10 (CST)

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