Published: 5:05pm, 20 Nov 2024Updated: 5:33pm, 20 Nov 2024
A new innovation and technology (I&T) hub co-developed by Hong Kong and Shenzhen will boost the flow of personnel, capital and data, starting with the building of two bridges, according to a blueprint shared by the technology minister.
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Authorities on Wednesday outlined their plans for the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone, which aims to attract talent, create wealth and transform strategic industries.
Plans for the zone include a range of special arrangements to facilitate the flow of capital, data, funds and talent within the zone.
The zone was proposed by Beijing in 2017 and comprises two areas separated by the Shenzhen River, with Hong Kong contributing 87 hectares (215 acres) and its mainland Chinese sister city offering 302 hectares.
Secretary for Innovation and Technology Sun Dong said the hub would operate under the principle of “one zone, two parks”, a model highlighting the success of “one country, two systems”.
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“We believe this is the only I&T cooperation zone with two different social, economic and judicial systems coexisting geographically in the same loop,” he said.