northern metropolis

Head of the Taskforce: Johnny Chong

The Development of Northern Metropolis in Hong Kong

Mature global economies are gradually becoming more and more knowledge based. With the proliferation of computers and the Internet, access to knowledge and information has dramatically increased. Innovation and the application of technology have replaced traditional raw materials, land and other tangible capital as the most important driving force of economic growth. We propose that the Northern Metropolis area should be redeveloped into a High-Tech Research and Development Centre. Cooperation between Hong Kong and Shenzen will provide a very positive environment for innovation and investment.

A partnership of this kind has many advantages especially for international investment and business opportunities. Hong Kong has low corruption and tax, a free flow of information and strong intellectual property rights laws under the Common Law system, this creates and inviting environment for international investors and researchers. The legal system in Hong Kong is independent and well defined and the free fanatical markets are very inviting for investors. Hong Kong is well established as an international business centre, a huge asset for any new development.As an emerging economy China has a number of complementary advantages, such as substantial research funding and huge market potential. Which when combined with a well developed 5 year plan and the specific business advantages that Hong Kong offers produces a very promising environment. Through its funding the Chinese government can commission specific areas of research to benefit the country. For example, clean or renewable energy is not only a source of lucrative and philanthropic investment but new developments in the area can also reduce pressure on conventional power plants and elevate power shortages, while bolstering China's 'Green Image”, very positive outcomes.Developments of this nature not only attract foreign talent but also Chinese nationals living and working overseas back to China. Attracting and retaining national and international talent is a long term development focus for Hi-Tech Science Parks and this one is in a superior position to do so.China has many R&D Science parks but one in a position like this would have a unique international advantage that is lacking in the majority of Mainland R&D facilities.

The establishment of this park will enhance China's international competitiveness in this area and allow local enterprises easier access to international markets.The Northern Metropolis Development combines the advantages of Hong Kong and its unique advantages for international business to and the force and driving power of the Manland's economy to create a mutually beneficial situation that will be both lucrative and environmentally beneficial. This proposal would be the first step in creating new pillar for the Hong Kong economy and an excellent way to move both economies forward to knowledge based economies. This development will bring together the the best local and international researchers to work towards a knowledge based economy and sustainable growth. Providing local entrepreneurs with the facilities and conditions to access the global economy. This is a truly unique opportunity that will have a lasting impact on the world.