An international innovation and technology hub will be set up in the Greater Bay Area which will contribute to the Belt and Road Initiative, Chief Executive of China's Hong Kong Special Administrative Region (HKSAR) Lam Cheng Yuet-ngor said on Monday.
"In two days' time, I shall deliver my maiden Policy Address, which I hope will contain not only initiatives for the coming year, but also my vision for the future of Hong Kong," Lam said. "You can be sure that opportunities for Hong Kong under the Guangdong-Hong Kong-Macao (Greater) Bay Area and the Belt and Road Initiative will feature quite prominently."
Innovation and technology will "be a priority area for my government" and Hong Kong has a lot of potential in this field, Lam noted.
She made the remarks at the China Daily Asia Leadership Roundtable Luncheon with the theme of "Guangdong-Hong Kong-Macao Greater Bay Area from the Belt and Road Perspective: Opportunities and Challenges."
"For example, we have a clear competitive edge in research and development capabilities. We enjoy free flows of ideas, talent and capital. Intellectual property is highly valued here and it is protected under our common law system," she said.
"I am glad to note that Guangdong and Hong Kong share the common goal of developing the (Greater) Bay Area into an innovation and technology hub," she said.
The Greater Bay Area development is a key pillar for the Belt and Road Initiative, she noted.
Much synergy could derive from interactions of the two critically important development strategies, particularly in shaping the future of Hong Kong, Lam said.
The Greater Bay Area encompasses Hong Kong, Macao and nine cities in Guangdong Province, namely Dongguan, Foshan, Guangzhou, Huizhou, Jiangmen, Shenzhen, Zhaoqing, Zhongshan and Zhuhai.
It involves overall population of 66 million and overall GDP of 1.36 trillion U.S. dollars.
