Hong Kong's Northern Metropolis development is set to benefit from new measures aimed at easing the cross-border flow of resources, including data, materials, and capital. These initiatives are slated for pilot implementation this year within the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone, a key component of the larger 30,000-hectare megaproject near the mainland China border.
The Development Bureau revealed these plans in a paper submitted to the Legislative Council, outlining progress on drafting dedicated legislation to expedite the development. Discussions are actively underway with mainland counterparts regarding the specifics of data, material, and capital movement within the Hetao zone, which comprises two parks straddling the border.
Industry stakeholders have expressed a need for relaxed regulations on elements such as bio-samples to foster greater collaboration and support Hong Kong's objective of becoming a global innovation and technology hub.
