HK should tap bay area for development, says ex-finance chief

Antony Leung Kam-chung delivers a speech at a round-table seminar held by think tank Center for China and Globalization (CCG) in Beijing, March 16, 2017. [Photo provided to China Daily]

Hong Kong should find ways to conduct "breakthrough" cooperation with mainland cities like Shenzhen and Zhuhai and work together to build Guangdong-Hong Kong-Macao Bay Area, said former finance chief Antony Leung Kam-chung at a round-table seminar held by think tank Center for China and Globalization (CCG) in Beijing on Thursday.

"When we signed Closer Economic Partnership Arrangement (CEPA) in 2003, our cooperation became 'closer', so now we should aim for 'breakthrough' ones," said Leung, currently CEO of property developer Nan Fung Group.

His idea also resonates with the plan outlined in this year's Government Work Report "for the development of a city cluster in the Guangdong-Hong Kong-Macao Greater Bay Area".

This year will mark the 20th anniversary of Hong Kong's return to the motherland. Leung said the next 10 years will be key to the future of Hong Kong.

As one of the most globally connected regions, Hong Kong's future is closely linked to the emerging trends. Leung used "VUCA", namely vulnerable, unclear, complex and ambiguous, to describe the future world, which is under great impact from new technology, globalization, aging population and so on.

So he proposed that Hong Kong should make use of its advantages, take measures to attract global talent, encourage innovation, creative ideas and entrepreneurship, as well as actively take part in the Road and Belt Initiative.