High-tech industrial park is planned for the border between Hong Kong and Shenzhen. The cooperative project will facilitate greater regional integration on a site which has historically been disputed by both sides.
In January 2017, Hong Kong and Shenzhen signed a deal to jointly develop an area of wetlands known as the ‘Lok Ma Chau Loop’, under Hong Kong control. The new ‘Hong Kong/Shenzhen Innovation and Technology Park’ will be the territories’ largest technology park and aims to open by the mid-2020s.
The joint project aims to facilitate closer integration between Hong Kong and Shenzhen. The idea is that it will allow businesses to benefit from Shenzhen’s manufacturing expertise and innovation. While at the same time retaining Hong Kong’s legal and business autonomy from the mainland.
It is hoped a more symbiotic relationship between the principalities will attract high-tech industry to Hong Kong from neighboring Shenzhen. In doing so, boosting Hong Kong’s global position in the technology sector. In addition, the park will act as an incubator for tech start-ups, providing economic stimulus within the region.
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