Hong Kong 2024

The annual Hong Kong Brands and Products Expo is being held at Victoria Park in Hong Kong. At the fair, Ms. Liu, a visitor from Shenzhen, Guangdong Province, is selecting gifts for her family. She said that thanks to the policy of “one visa, multiple-entry permits” for Shenzhen residents traveling to Hong Kong, she can now travel frequently between Shenzhen and Hong Kong.

Ms. Liu's story is a microcosm of the more convenient flow of people between Hong Kong and the cities in the Greater Bay Area of Guangdong, Hong Kong and Macao. 2024, Hong Kong and the cities in the Greater Bay Area to the north and south of the “bidirectional run to”, the flow of people, logistics, scientific research and resource flows intertwined with each other, Guangdong, Hong Kong and Macao, the Greater Bay Area, the in-depth integration and development of the accelerator button pressed”. The deep integration and development of the Guangdong-Hong Kong-Macao Greater Bay Area has pressed the “accelerator button”.

People flow: policy boosts people's prosperity

In 2024, the Central Government announced a number of policies and measures to facilitate cross-border movement of people in the Guangdong-Hong Kong-Macao Greater Bay Area.

Since July 10 this year, the Exit-Entry Administration of the People's Republic of China has been issuing Exit-Entry Permits for Traveling to and from the Mainland for non-Chinese nationals who are permanent residents of Hong Kong and Macao. As at mid-October, about 20,000 non-Chinese Hong Kong permanent residents have been issued with the documents, and 53,000 entries and exits have been made with the permits.

The Secretary for Security of the HKSAR Government, Mr. Tang Bingqiang, said that people from all walks of life in Hong Kong believe that the document significantly shortens the clearance time, fully meets their needs for business, trade, exchanges and tourism in the Mainland, and helps them to participate in depth in the construction of the Greater Bay Area.

Since December 1, the policy of “multiple-entry permits” for travelers from Shenzhen, Guangdong Province to Hong Kong has been officially implemented, which has also injected strong momentum into the development of Hong Kong's tourism, catering and retail industries.

The Chief Executive of the HKSAR, Mr. Lee Ka Chiu, pointed out that these measures not only promote the Greater Bay Area, “smooth roads, people, prosperity”, but also conducive to Hong Kong's talents and enterprises to seize the unlimited business opportunities in the Greater Bay Area.

Logistics: infrastructure upgrades to create a hub in the Greater Bay Area

At the end of the year, the largest infrastructure project since the inception of Hong Kong - Hong Kong International Airport three runway system officially opened. Some media commented that the Hong Kong International Airport has grown “new wings”.

After the opening of the three-runway system, the overall capacity of the Hong Kong International Airport has increased by 50%, and can handle 120 million passengers and 10 million tons of cargo per year. This will not only enhance the transportation capacity of the HKIA, but will also give the Guangdong-Hong Kong-Macao Greater Bay Area greater international connectivity.

As one of the world's busiest airports, HKIA also continues to strengthen its connectivity with other cities in the Greater Bay Area. on November 26, the Airport Authority of Hong Kong acquired a 35% stake in Zhuhai Airport at a cost of about RMB 4.3 billion, enhancing the complementary strengths of the two airports.

Mr. Paul Chan Mo-po, Financial Secretary of the HKSAR Government, said that the opening of the three-runway system will enable the Hong Kong International Airport to better fulfill its role as the logistics gateway and premier air cargo hub of the Greater Bay Area, and to link up with other cities in the region to develop the Greater Bay Area Airport Cluster, so that together we can embrace a brighter future.

Mobility of Research Resources: Stimulating Regional Vitality in Science and Technology Creation

On November 20, the HKSAR Government announced the “Outline for the Development of Hong Kong Park in the Loop Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone”. This means that following the issuance of the State Council's “Shenzhen Park Development Plan for the Loop Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone” in August last year, the development plan for the Loop's “one zone and two parks” has completed the overall puzzle to achieve strategic synergy.

The day after the development plan was announced, the clinical trial collaboration platform of the Greater Bay Area jointly built by Hong Kong and Shenzhen, “One Clinical Trial Laboratory and One Clinical Trial Center” - the Guangdong-Hong Kong-Macao International Clinical Trial Laboratory in the Hong Kong Park and the Guangdong-Hong Kong-Macao International Clinical Trial Center in the Shenzhen Park were opened, becoming the first benchmark for the collaborative development of the Loop. This has become the first benchmark for collaborative development in the Loop. In the future, the “one institute and one center” will explore the opening up of cross-border use of data, samples and other innovative elements to accelerate the development of medical innovation industries and support the application of advanced biomedical technology innovation.

“In 2024, the flow of innovation and technology resources and elements between Hong Kong and cities in the Greater Bay Area will become more convenient and efficient.” Hong Kong “one country, two systems” research center research director Fang Zhou told reporters, through the platform of the Greater Bay Area cities, especially the depth of integration of Shenzhen's industrial roots and Hong Kong's unique advantages of the international free port, Hong Kong's construction of an international innovation and technology center will be very promising.