The Dream Factory of China

Source :Qianhai Communication Center

The highly integrated European Union (EU) should serve as a benchmark for Qianhai to pilot Shenzhen-Hong Kong cooperation in the construction of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), an advisory committee member of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone Authority said at the 2020 meeting in Qianhai on Sunday.

Choy Koon-sham, honorary president of The Chinese General Chamber of Commerce, Hong Kong, said Qianhai should learn from the integration experience of the EU, where the free flow of people, capital, goods and services are allowed among its 27 member states.

“EU has the highest level of regional integration and development in the world,” he said, adding that its integration process would be a valuable experience for Qianhai in its efforts to set up a mechanism for the convergence of market regulations and practices of Guangdong, Hong Kong and Macao, which is vital to the integrated development of the GBA, as pointed out by President Xi Jinping at the 40th anniversary celebration of the Shenzhen Special Economic Zone in mid-October.

“As we can see, the EU has established a mature, developed common market through years of efforts and fault-tolerant experiments. I think it made a great example on how the GBA integration could proceed for a quality economic development,” Choy said.

He said Hong Kong has been known for its strengths in the finance and professional services sectors. However, the market barrier between the Chinese mainland and Hong Kong has hindered the free flow of the talents in these advantaged industries. For example, an experienced Hong Kong CPA is required to obtain the mainland accounting certificate before he can legally work in Guangdong, which will discourage many Hong Kong professionals, such as accountants, architects and planners, from seeking career development in a bigger market in Guangdong, which, on the other hand, is in need for a large number of professionals for economic development, said Choy. It is vital for Qianhai to serve as a pilot area for the convergence of different market rules and practices of Guangdong, Hong Kong and Macao, so as to attract more talents and young entrepreneurs to work in the free trade area.

The introduction of the registration system for Hong Kong professionals in the construction sector this year is an inspiring step. It allows engineers, architects and other professionals in construction from Hong Kong to work in the free trade after registering with the Qianhai authority, without the previously mandatory mainland credentials for employment.

Choy said the list of professions compiled by the Qianhai authority for the registration system should be expanded to cover sectors. He also suggested that Qianhai could serve as a pilot area where professional credentials and certificates of the mainland, Hong Kong and Macao are equally recognized, to attract more talents from Hong Kong and Macao.

Choy was among a dozen advisory members, such as Ma Weihua, former president of Shenzhen-headquartered China Merchants Bank, and Liu Yunjie, a member of the Chinese Academy of Engineering and head of Jiangsu Future Networks Innovation Institute, to speak at the 2020 meeting, offering constructive advise on Qianhai development.