Boost Science and Technology Innovation in Guangdong-Hong Kong-Macao Greater Bay Area

information

CDI invited Dr. FANG Zhou from One Country Two Systems Research Institute Limited to share his ideas on science and technology innovation collaboration, human resource integration, industry transformation and upgrading, as well as the building of an international platform between Shenzhen and Hong Kong.

Venue: Room 101, CDI Mansion, Shenzhen

Host: CDI

Theme: Boost Science and Technology Innovation in Guangdong-Hong Kong-Macao Greater Bay Area

Highlights

Industrial transformation and upgrading will be facilitated by the cooperation and innovation advantages within the Guangdong-Hong Kong-Macao Greater Bay Area, especially in the realm of science and technology, and will in turn boost the Greater Bay Area economic development. The Greater Bay Area possesses unique advantage in technology and industrial innovation which will be its main area of focus. It is supported by the large consumer market and rich manufacturing background, as well as sound solid scientific research base, active corporate R&D, world class business environment and intellectual property protection.

Greater Bay Area and the strategic development opportunities

From the national stand point, Greater Bay Area denotes the following strategic significance: it bears the vision of becoming the core of world division system and global resource allocation under the emergence of a new international economic order and facilitating low cost cross border mobilization of production and living factors among the three independent tariff areas under the benefit of “One Country, Two Systems”. The Greater Bay Area is facing an important opportunity for transformation and upgrading. It is crucial to accomplish collaboration among the high-level industries, especially in the area of science and technology innovation.

Obstacles faced by Shenzhen and Hong Kong’s cooperation in science and technology innovation

Hong Kong and Shenzhen are in need of a better complementary mechanism. Hong Kong has a strong research foundation in basic science and is home to wide variety of international talents, however is relatively weak on research commercialization ability. Shenzhen is the exact opposite. In other words, Shenzhen and Hong Kong are complementary of each other. However, there was little interaction in the past decade.

As a result of “One Country, Two Systems”, scientific research funding and equipment is not mobile between Hong Kong and Mainland China due to tariff differences. The removal of mobilization barriers is critical for the integration of science and technology industry in the Greater Bay Area.

Strengthen industry-university collaboration between Shenzhen and Hong Kong

Shenzhen and Hong Kong should strengthen technology and R&D collaboration, information docking and sharing, as well as resource complementation. First of all, a research commercialization base can be established near the border, as well as platforms and companies that break the information asymmetry. Commercialization can then be extended to other cities in the Greater Bay Area, providing a comprehensive support service for the whole industry chain. Secondly, removal of collaboration barriers will facilitate technology innovation mobilization. Thirdly, the advantages of arbitration and alternative dispute resolution mechanism in Hong Kong shall be given full play for Hong Kong to become a cross-border intellectual property trade center in the Greater Bay Area. Fourthly, the reform of capital market shall be promoted. High quality science innovation enterprises in the Greater Bay Area will be attracted to be listed in Hong Kong by the enhanced financing capacity of IPO markets in the two cities.

Lok Ma Chau Loop serving as a “special cooperation zone”

Lok Ma Chau Loop, a Shenzhen-Hong Kong cooperation gold mine, can be built into a Greater Bay Area science innovation collaboration platform, in other words, a “special cooperation zone” under “One Country, Two Systems”, in which the science innovation industry collaboration mechanism can be implemented. International talents will be attracted by the low tax rate, whose work will be supported by Shenzhen’s research commercialization advantage in the entire industry chain, making the zone China’s top international science and R&D base.