The violence of the past few months has greatly affected our society. Hong Kong cannot afford any more divisions, and we hope that a consensus can be reached, so that our economy and livelihoods can get back on track. 

While recent attention has focused on the social unrest, it is good to know that developments are continuing that will benefit Hong Kong in the long term. For example, Vice Premier Han Zheng announced a series of policies during the recent meeting of the Leading Group for the Development of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). These cover areas such as research and development, housing and financial management, and further facilitating the “four flows” in the GBA.

The HKSAR Government has made considerable efforts to promote the development of innovation and technology (I&T) in recent years, a policy that is widely supported across the community.  

Specific measures include more resources to develop the Shenzhen-Hong Kong Innovation and Technology Co-operation Zone in the Lok Ma Chau Loop; facilitate customs clearance of imported animal-derived biomaterials; and relax the limitations on exporting Mainland human genetic resources to Hong Kong and Macao. These measures will boost I&T development in the GBA and provide young people with more opportunities for upward mobility.

To help people access these opportunities, China has rolled out measures to tackle the lingering issue of “the big doors are open but the small doors are not,” with a view to attracting talent to the GBA. For example, Hong Kong residents will no longer be required to provide evidence of their duration of residence; nor will they have to meet conditions on the payment of social security when purchasing property in Mainland GBA cities. 

To facilitate cross-border wealth management, the authorities have also removed barriers for Hong Kong people to using electronic payment services and opening bank accounts on the Mainland. Non-Chinese Hong Kong residents will also be able to apply for a residency permit, with a validity of two to five years.

There is no lack of talent in Hong Kong, just as there is no lack of creativity and ideas among our young people, who also have an international outlook and can easily reach out to investors from all over the world. 

However, social disharmony as well as the over-politicization of economic and livelihood issues pose obstacles to Hong Kong’s development. Now that these opportunities are up for grabs, and there is consensus among different sectors on the importance of I&T development, it is all the more important for us to put aside our differences and move forward.

Jeffrey Lam
[email protected]