Shenzhen is calling for private investors to participate in the construction of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and building the city into a pilot demonstration area of socialism with Chinese characteristics.
Forty-five measures were unveiled in a notice recently issued by the leading group for the construction of the GBA to facilitate interested private investors, Chinese-language media reported yesterday.
According to the notice, the nongovernmental sector is encouraged to engage in scientific innovation. Hong Kong universities and research institutes are encouraged to set up more institutes and innovation centers in Shenzhen to industrialize their scientific achievements.
Banks, insurance companies and large enterprises are encouraged to participate in the construction of infrastructure like ports, rails and roads. Newly emerging industries of strategic importance and financial innovation are also open to private investment.
The city will support NGOs to deepen cooperation with Hong Kong, Macao and foreign countries in professional service, education, culture, sports and tourism.
Hong Kong and Macao youths are welcome to create startups or land jobs in Shenzhen.
Private investors are encouraged to be involved in China’s Belt and Road Initiative, and expand trade cooperation with Belt and Road countries.
Telecommunication operators and Internet companies are encouraged to enhance construction of information technology infrastructure.
Private investment is also encouraged for the construction of the Qianhai Shenzhen-Hong Kong Modern Service Cooperation Zone, Shenzhen-Hong Kong Science and Technology Innovation Zone, science facilities at Guangming Science Town and Xili Lake International Science and Education City, Shenzhen-Hong Kong Port Economic Belt, and Shatoujiao International Tourism and Consumer Zone.
A newly developing world-class urban agglomeration, the GBA brings together Hong Kong and Macao and nine cities in Guangdong Province. Covering 56,000 square kilometers (about three times the size of the San Francisco Bay Area), the GBA has a combined population of over 69 million people and GDP of around US$1.5 trillion.
Under a guideline to support Shenzhen to build a pilot demonstration zone for socialism with Chinese characteristics, by 2025 Shenzhen will rank among the top cities in the world in economic strength and quality of development, with intensive research and development investment and world-class industrial innovation capacity.
By midcentury, Shenzhen will become a global benchmark city in its competitiveness, innovation and outstanding influence.