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HK 2020 Policy Address Unveiled Measures for GBA Development

HK 2020 Policy Address Unveiled Measures for GBA Development

On 25 November 2020, the Chief Executive of the Hong Kong Special administrative Region Carrie Lam Cheng Yuet-ngor delivered a new Policy Address, which sets out a serial of measures in anti-epidemic, economic development, employment creation, talent cultivation, housing supply, innovation of science and technology and etc.

The cooperation between Shenzhen and Hong Kong and the integration into the development of Guangdong, Hong Kong and Macao Bay Area (GBA) are the highlights of the Policy Address. The specific arrangements involved include:

  1. Implement the arrangements for the use of medicines registered in Hong Kong and medical devices used by public hospitals in Hong Kong in Shenzhen Hospital of the University of Hong Kong, and extend the policy to more designated medical institutions, medicines and medical devices in due course.

  2. Adopt the arrangement of “one place, two inspections?in the new Huanggang Port.

  3. Promote the joint development of the Shenzhen/Hong Kong Innovation and Technology Co-operation Zone (SITZ), which comprises the Shenzhen Innovation and Technology Zone and the Hong Kong-Shenzhen Innovation and Technology Park (HSITP) at the Lok Ma Chau Loop with a view to establish "one zone, two parks" at "one river, two banks" under the auspices of "one country, two systems".

  4. Launch a scheme to allow eligible Hong Kong private cars to enter and leave Guangdong Province through the Hong Kong-Zhuhai-Macao Bridge without quota, and explore to extend the scheme to a Hong Kong-Shenzhen land port based on the implementation status.

  5. Support and assist a number of local universities in Hong Kong to run in the GBA;

  6. Launch the Funding Scheme for Youth Entrepreneurship in the GBA to subsidize youth startups with corpus of HK$100 million.

  7. Launch the GBA Youth employment Scheme to encourage enterprises with GBA operations to recruit up to 2,000 university graduates from Hong Kong.

  8. Support Hong Kong insurance sector to set up after-sales service centres in mainland cities of the GBA under CEPA framework.

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