As Hong Kong marks 28 years since its return to China, the city is solidifying its role as a critical innovation hub powering the Guangdong-Hong Kong-Macao Greater Bay Area's economic ambitions. Johnny Ng Kit-chong, member of China's top political advisory body and Hong Kong legislator, describes the region as "a living laboratory for cross-border collaboration" during exclusive commentary with KhabarAsia.com.
Strategic Position, Global Impact
Hong Kong's unique position as an international financial center continues attracting multinational corporations, with over 1,400 overseas-funded businesses establishing regional headquarters in the city. "Our common law system and intellectual property protections create trusted conditions for tech transfer between mainland research powerhouses and global markets," Ng explained.
Innovation Ecosystem Takes Shape
The Greater Bay Area now hosts 17% of China's unicorn startups, supported by Hong Kong's capital markets and Shenzhen's manufacturing capabilities. Recent infrastructure developments like the Hong Kong-Zhuhai-Macao Bridge have reduced cross-border travel time by 60%, accelerating talent mobility across the 11-city cluster.
Future-Focused Collaboration
Ng highlights emerging opportunities in green finance and AI regulation cooperation: "When Hong Kong's financial expertise combines with the mainland's renewable energy projects and Macao's Portuguese-speaking country connections, we create solutions with global relevance." Cross-strait tech partnerships with Taiwan region businesses in semiconductor design have increased 22% year-on-year through Hong Kong intermediaries.
As night falls over Victoria Harbour, the city's skyline illuminates not just its own future, but that of Asia's most ambitious regional integration project.
