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Written by: Kong Fanxu
2020-10-15 10:56
Last update date: 2020-10-15 10:56
President Xi Jinping attended the celebration of the 40th anniversary of the establishment of the Shenzhen Special Economic Zone yesterday (14th) and delivered an important speech. In "Actively Acting to Promote the Construction of the Guangdong-Hong Kong-Macao Greater Bay Area", he said that "The construction of the Guangdong-Hong Kong-Macao Greater Bay Area is a major national development. Strategically, Shenzhen is an important engine for the construction of the Greater Bay Area."
The outside world is concerned about Shenzhen as the engine leader of the Greater Bay Area. What is the role of Hong Kong?
Associate Professor Zhuang Tailiang of the Department of Economics at CUHK pointed out this year (15th) that Hong Kong is already a mature economy, and its growth is bound to be less than that of Shenzhen. Naturally, it will not play an engine role. However, Hong Kong has unique advantages. I believe that Hong Kong and Shenzhen can cooperate with New York and London. Competition in financial centers.
President Xi Jinping attended the celebration of the 40th anniversary of the establishment of the Shenzhen Special Economic Zone yesterday (14) and delivered an important speech, saying that "The construction of the Guangdong-Hong Kong-Macao Greater Bay Area is a major national development strategy, and Shenzhen is an important engine for the construction of the Greater Bay Area." image)
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Zhuang Tailiang said on the Hong Kong and Taiwan program "Millenniums" that driving the Greater Bay Area requires a city with high economic growth. Shenzhen's GDP has surpassed Hong Kong and can be used as an engine to drive high growth. However, since the development of mainland cities must be coordinated with national political commissars, domestic capital flows If Shenzhen is closed, Shenzhen can become a domestic financial center, but international finance must cooperate with Hong Kong to "embed and complement each other and compete with New York and London."
Officials without long-term planning under the Hong Kong accountability system may not be able to play a leading role in the Mainland
Zhuang continued that Hong Kong is already a mature economy and its growth is naturally not as good as that of Shenzhen. However, Hong Kong has its own administrative and legislative problems. Officials under the accountability system have no long-term plans. Raising, judicial reviews and environmental assessments have hindered development, and the financial system And currency is different from the mainland, and may not be able to play a role in driving the mainland.
The Chief Executive Carrie Lam said in an interview with "Shenzhen Satellite TV" that she didn't mind the accusation that Shenzhen's GDP has surpassed that of Hong Kong. Zhuang pointed out that "every city must move forward, and the Chief Executive must lead Hong Kong forward." It is impossible not to mind.
Zhuang Tailiang, Associate Professor, Department of Economics, CUHK
01News
Xi Jinping Shenzhen Greater Bay Area
