![]() ![]() Of all the linkages, the development of Wealth Management Connect (WMC) is particular noteworthy this year, with a notable ramp-up in Southbound flows since it was first launched in September 2021. Given the GBA is increasingly co-ordinated, hosts frequent business exchanges and is home to a relatively wealthy population base, there has been rising demand for cross-boundary financial services. …with financial integration now taking off Having said that, the ambitious strategy involves not just R&D, but also urban development. We think the top-down design will help facilitate freer flows of technology, capital and talent and ensure the so-called ‘cooperation zone’ will serve as a bridgehead for innovation and technology development between the two cities. The 30-measure package laid out guidance and timelines for technology collaboration between Hong Kong and Shenzhen. Hong Kong Science Park recently opened its first branch in the Hetao sci-tech zone of Shenzhen, shortly after the State Council unveiled its development plan for the area. Local governments in the region are exploring freer cross-boundary movements of capital, talent and data. Several major infrastructure projects are helping to cope with rising traffic levels and business needs. The first step is to physically connect the region better. As mainland China transitions to a new growth model, the GBA is serving as a model for industrial upgrading and the creation of new growth engines. ![]()
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