Govt, market dual players in Greater Bay Area

The "Outline Development Plan" for Guangdong-Hong Kong-Macao Greater Bay Area, released recently, aims to make the GBA a world class science and technology innovation center. But how can Guangdong province, and the Hong Kong and Macao special administrative regions, which have different political systems and, to a certain extent, cultures, collaborate seamlessly to create such an innovation center?

We believe that while the market will be a key driving force for the GBA's development, the government has to play the key role of coordinator and administrative guide. The market does play a vital role in economic development, but a visionary and determined government is needed to supplement the market and ensure coordinated development.

First, a government-coordinated plan will prevent the duplication of infrastructure facilities and cut-throat competition in the neighboring cities. And mutual leveraging and inter-city collaboration will create additional value for all the three regions given the nature of their respective economies.