The Development Plan for Shenzhen Park of Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone, as promulgated by the State Council on Aug 29, has set the stage for a ground-breaking initiative: the establishment of Shenzhen Park. 

Located in the strategic Hetao area of Shenzhen, this park aims to foster cross-border innovation and technology (I&T) collaboration between Shenzhen and Hong Kong, while transforming into a world-class science and technology innovation hub. With a comprehensive strategy that includes measures to support scientific cooperation, promote talent and capital flow, and encourage international collaboration, Shenzhen Park holds immense potential for driving innovation in the Guangdong-Hong Kong-Macao Greater Bay Area.

At the core of the development plan lies a commitment to creating an efficient mechanism for scientific and technological innovation cooperation between Shenzhen and Hong Kong. The strategic location of Shenzhen Park in the Hetao area enhances its potential as a vibrant hub for cross-border collaboration. 

By facilitating the flow of talent, capital, and information, the plan aims to bridge the gap between the two regions, encouraging dynamic collaboration. The park will be developed in stages, with the first phase focusing on the establishment of world-class research institutes and labs. This deliberate approach ensures that a solid foundation is laid for future innovation.

Furthermore, Shenzhen Park will provide a range of support services for innovative enterprises, including funding, incubation, and networking opportunities. By nurturing and empowering these enterprises, the park aims to create an ecosystem that will foster their growth and success. This comprehensive support system will attract top talent from around the world, making Shenzhen Park a magnet for the brightest minds and a major driver of innovation in the GBA.

The plan’s targets for Shenzhen Park are both ambitious and visionary. By 2025, the park aims to establish an efficient mechanism for cross-border I&T collaboration, ensuring the seamless exchange of ideas and resources between Shenzhen and Hong Kong. Additionally, it aspires to attract a multitude of top labs and research institutes, creating an environment that nurtures ground-breaking discoveries. Looking ahead to 2035, the plan envisions Shenzhen Park evolving into a globally recognized science and technology innovation hub, making significant contributions to the development of the GBA. These targets reflect the determination of both Shenzhen and Hong Kong to forge a prosperous future driven by innovation.

The development of Shenzhen Park aligns closely with the central government’s vision of transforming the GBA into a world-class innovation and technology hub. With its strategic location and existing concentration of high-tech companies and research institutes, the area possesses a solid foundation for driving technological advancements. By elevating Shenzhen Park to international standards, the region’s innovation capabilities will be further amplified. This integration will foster an environment conducive to breakthroughs and transformative discoveries, attracting global attention and investment.

Both the Shenzhen and Hong Kong governments have expressed unwavering support and dedication to the successful implementation of the development plan. The Shenzhen government has pledged strong assistance, recognizing the significance of Shenzhen Park in promoting cross-border innovation. Similarly, the Hong Kong government has emphasized its commitment to close collaboration with Shenzhen, understanding the potential for shared success in the endeavor. This united vision and collaborative spirit demonstrate the determination to build a robust ecosystem that fosters innovation and propels the region to new heights.

While the development plan outlines crucial measures, additional steps can be taken to further enhance cross-border I&T collaboration between Shenzhen and Hong Kong. Creating a favorable environment for cross-border investment and talent flow will encourage mutual growth and knowledge exchange. Strengthening cooperation between universities and research institutes in both regions will provide a platform for collaborative research and development, fostering a culture of knowledge-sharing. 

By developing joint projects and initiatives, Shenzhen and Hong Kong can leverage their respective strengths and maximize the potential for breakthrough innovations. Moreover, promoting the use of English as a common language for scientific communication will facilitate seamless collaboration and foster an inclusive and vibrant innovation ecosystem that transcends linguistic barriers.

The development plan for Shenzhen Park represents a significant milestone in the collaboration between Shenzhen and Hong Kong in the field of science and technology. By harnessing the potential of cross-border innovation and cooperation, Shenzhen Park has the capacity to become a world-class science and technology innovation hub, further propelling the GBA’s development. Through continued commitment, support, and the implementation of additional measures, Shenzhen and Hong Kong can forge a stronger foundation for cross-border I&T collaboration, ushering in an era of unparalleled growth and innovation in the area. The strategic location of the park, its support services for innovative enterprises, and its ability to attract top talent will contribute to its success as a major driver of innovation. By aligning with the vision of the GBA and fostering collaboration between Shenzhen and Hong Kong, Shenzhen Park holds the potential to transform the region into a globally recognized science and technology powerhouse.

The author is chairman of the Asia MarTech Society and sits on the advisory boards of several professional organizations, including two universities.

The views do not necessarily reflect those of China Daily.