Young delegates from Hong Kong visit Hytera Communications Corporation Limited in Shenzhen. XINHUA
Young people from Hong Kong are embracing a historic era of great opportunities to seek a better future on the Chinese mainland. It’s all thanks to an increasing number of preferential policies, along with the kick-off of a national development plan for the Guangdong-Hong Kong-Macao Greater Bay Area.
Chinese authorities unveiled the outline development plan for the GBA in February, aiming to develop the region into a role model of high-quality development. Covering a total area of 56,000 square kilometers, the bay area consists of Hong Kong, Macao and nine cities in Guangdong. “As one of the most open and economically vibrant regions in China, the Greater Bay Area plays a significant strategic role in the overall development of the country,” says the plan.
Tsang Yee, a Hong Kong entrepreneur in Shenzhen, said the GBA development creates a promising environment for setting up businesses. “Since I began my career in Shenzhen several years ago, I can see that the city is developing very fast. What impresses me is Shenzhen’s entrepreneurial environment, which is very inclusive,” he said.
“The city has also launched a series of policies to facilitate working and living there,” he added.
Hong Kong entrepreneur Eric Kuo agreed. He founded a startup in Qianhai – the Shenzhen-Hong Kong pilot cooperation zone in Shenzhen.
Kuo said his team now enjoys preferential treatment in renting office space, taxes and housing.
“Hong Kong people are no longer required to apply for a permit to work in Qianhai, and this has greatly simplified the procedure of working there,” he said.
The Bay Area also offers huge opportunities for Hong Kong’s young people by offering a much larger market.
“For Hong Kong entrepreneurs like us, the Bay Area development has solved one problem – the lack of space for development in Hong Kong due to the city’s small market,” said Sam Ho, a Hong Kong entrepreneur in Shenzhen.
“对于我们这样的企业家而言，大湾区的发展解决了一大问题 —— 香港市场有限所导致的发展空间不足， ”在深香港企业家萨姆·何表示。
“We can thus explore the vast mainland market with the development of the Bay Area,” he said.
The central government’s latest blueprint to turn Shenzhen into a pilot demonstration of “socialism with Chinese characteristics” also encourages Hong Kong residents to work and live in the neighboring city.
By 2035, Shenzhen will become a national model of high-quality development, as well as a hub of innovation, entrepreneurship and creativity with international influence, according to a document issued by the Communist Party of China Central Committee and the State Council in August.
“A more open environment and preferential policies open a door for Hong Kong and Macao young people to develop their career on the mainland. This is a great support for us,” Tsang said.