What is Hong Kong's role in making the bay area plan a success?

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By CGTN's Ge Yunfei

Hong Kong has been one of the favorite destinations for tech companies from the Chinese mainland to do their IPOs. Tencent, for example, is headquartered in Shenzhen but listed on the Hong Kong Stock Exchange with a valuation of over 300 billion US dollars.

But when talking about Hong Kong’s tech industry, what big tech name such as Baidu or Alibaba comes to one’s mind first? The answer might be disappointing.

Hong Kong was one of the best cities in the world with scientific capabilities. But according to some company executives in the region, the issue is how to translate technology into some applications into industry.

Frank Tong, CEO of ASTRI, a government funded non-profit organization in Hong Kong that focuses on applied science research said that Hong Kong lacks a strong manufacturing base, a big domestic market, and a full supply chain that can support the applied scientific research.

Map of China's new Guangdong-Hong Kong-Macao Bay Area / CGTN Photo

China's new Guangdong-Hong Kong-Macao Bay Area plan will help. The project will link Hong Kong's world-class research institutions with major manufacturing centers on the mainland.

With the best capital market, the best community service system, and the most efficient anti-corruption body in China, experts encourages Hong Kong to play a more important role in making the bay area plan a success.