Collaboration lies at the core of China’s national development strategy, supporting innovation, economic growth, and global integration. In an age of rapid change and increasing complexity, no single region or industry can maximize its potential in isolation. By encouraging cooperation across regions, industries, and disciplines, China is establishing a foundation for sustainable progress while reinforcing its status as a global leader.
Hong Kong, long celebrated for its cultural vibrancy, economic resilience, and pivotal international role, is a cornerstone of this ambitious vision. Its future success depends on its ability to support national development initiatives, deepen integration with the Guangdong-Hong Kong-Macao Greater Bay Area, and strengthen connections with the global community. This transformation is reshaping the region into a world-class technology, commerce, and innovation hub. A dynamic regional ecosystem is emerging through strategic collaboration between the Hong Kong Special Administrative Region, the rest of the Greater Bay Area, and other parts of China, with each location leveraging its unique strengths to drive collective growth and global competitiveness.
The partnership between the HKSAR and Shenzhen is particularly noteworthy. Landmark initiatives like the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone and the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone exemplify this synergy. Qianhai has become a key hub for Hong Kong enterprises, with over 9,200 companies registered. At the same time, Hetao has established itself as a center for cutting-edge research, with more than 200 collaborative projects involving top Hong Kong universities. These partnerships are paving the way for innovation and facilitating cross-border knowledge exchange, creating a model for regional collaboration.
Hong Kong Chief Executive John Lee Ka-chiu’s recent visit to Hangzhou underscored Hong Kong’s commitment to advancing the national innovation ecosystem. Engagements with leading technology firms such as DeepSeek and Unitree Robotics highlight Hong Kong’s focus on artificial intelligence, robotics, and other transformative industries. These companies, representing the forefront of Industry 4.0, align with Hong Kong’s vision of becoming a global leader in technological innovation. Success stories like SenseTime, a Hong Kong-based AI company listed on the city’s stock exchange, further demonstrate the potential for homegrown innovation to thrive in Hong Kong’s supportive ecosystem.
A key advantage for Hong Kong is its capacity to provide the necessary infrastructure and environment for these firms to scale globally. Its legal system, rooted in common law, ensures strong intellectual property protections, crucial for industries like technology and biotechnology. With its world-renowned financial markets offering unmatched access to global capital, Hong Kong allows companies to attract funding and expand internationally. Hong Kong’s financial ecosystem has already supported listings for tech giants like Alibaba and Xiaomi, showcasing its ability to help companies bridge the gap between China and global investors.
Along with a highly skilled workforce and world-class research institutions, such as the University of Hong Kong and the Hong Kong University of Science and Technology, these attributes firmly position the city as an indispensable player in China’s innovation strategy. Talent is the bedrock of innovation, and Hong Kong has made significant strides in this area. The Top Talent Pass Scheme, designed to attract professionals from leading global universities, helps position the city as a magnet for the brightest minds.
Partnerships between Hong Kong universities and Chinese mainland institutions further strengthen this talent pipeline. The Hetao Cooperation Zone, in particular, has fostered numerous joint research initiatives, driving cross-disciplinary breakthroughs and creating opportunities for researchers on both sides of the border.
Beyond talent development, Hong Kong is a vital conduit for bringing mainland innovation to international markets. Companies like DeepSeek and Unitree Robotics can leverage Hong Kong’s global networks to secure funding and establish international partnerships. As a global financial hub, the city provides an ideal platform for showcasing cutting-edge technologies and connecting with the world.
Hong Kong’s stable legal and regulatory environment further enhances its appeal. Its transparency and commitment to the rule of law instill confidence in investors and businesses, especially in sensitive sectors like healthcare technology, where trust and compliance are essential. This stability positions Hong Kong as an ideal base for navigating the complexities of global markets.
The Belt and Road Initiative also reinforces Hong Kong’s strategic role within the Greater Bay Area. By aligning its development with this national strategy, Hong Kong acts as a launchpad for Chinese companies seeking to expand into emerging markets across Asia, Africa, and Europe. This alignment bolsters Hong Kong’s economic prospects and strengthens its position as a gateway connecting China with the global community.
The Greater Bay Area’s success arises from collaboration and healthy competition among its cities. Shenzhen, often referred to as China’s Silicon Valley, excels in areas like AI, robotics, and biotechnology, with research and development spending surpassing 6 percent of its GDP. Meanwhile, Hong Kong enhances these strengths with its expertise in commercialization, finance, and legal services. Together, they create a dynamic ecosystem that drives innovation and accelerates regional growth.
However, challenges remain for Hong Kong to unlock its full potential within the Greater Bay Area. One pressing issue is the integration of emerging technologies into traditional industries. While progress has been made in areas such as AI and robotics, more must be done to apply these technologies in logistics, manufacturing, and healthcare. Expanding these applications would diversify Hong Kong’s economy and ensure its relevance in an increasingly tech-driven global landscape.
Infrastructure is another critical area that requires attention. As the technology sector’s demands grow, Hong Kong must continue to invest in data centers, enhance connectivity, and foster an innovation-friendly environment.
Recent government initiatives, such as investments in AI supercomputing and smart city development, are promising first steps. However, sustained efforts and strategic planning will be crucial for maintaining the city’s competitive edge. For instance, expanding green technology and renewable energy infrastructure could further position Hong Kong as a forward-thinking, sustainable innovation hub.
Hong Kong’s role in the Greater Bay Area extends beyond economic contributions. It is about shaping a future where innovation and tradition coexist harmoniously. The Greater Bay Area exemplifies how regional collaboration can create outcomes greater than the sum of its parts. From Shenzhen’s cutting-edge research labs to Hong Kong’s global financial networks, the region showcases the transformative potential of cooperation.
The road ahead will inevitably present challenges, but Hong Kong’s adaptability and resilience position it well to navigate them. Balancing regional integration with global outreach will be critical to its long-term success. Hong Kong can solidify its prosperity by fostering innovation, attracting top talent, and enabling cross-boundary partnerships while advancing the Greater Bay Area’s collective growth. The opportunities are immense, and with a shared commitment to progress, the region is poised to become a global leader in innovation and development.
The author is an international partner and member of the Global Advisory Board, Millenium Associates AG.
The views do not necessarily reflect those of China Daily.
