Hong Kong Unveils Plan to Deepen Greater Bay Area Development and Promote Green Transformation
News related to:Hong Kong SAR · 3 min read
Hong Kong has unveiled a comprehensive strategy to deepen the development of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and enhance green transformation. The Hong Kong Special Administrative Region (HKSAR) announced its First Five-Year Plan for Economic and Social Development for the period 2026-2030, along with a Policy Address on September 16. The measures aim to sharpen Hong Kong's competitive edge in the global market, consolidate the development of the GBA, and promote green transformation.
Chief Executive John Lee emphasized the importance of fostering synergistic development within the GBA.
The HKSAR Government plans to actively participate in the development of various major cooperation platforms, including Qianhai of Shenzhen, Nansha of Guangzhou, Hengqin of Zhuhai, and the Hetao Shenzhen-Hong Kong Co-operation Zone, to promote mutual benefits. To enhance "hard connectivity," the government will support Nansha in its role as a high-standard gateway for opening up, including encouraging trade to participate in Nansha's infrastructure development. The Northern Link Project and the Hong Kong-Shenzhen Western Rail Link (Hung Shui Kiu-Qianhai) are key initiatives, with target commissioning in 2034 and 2035, respectively, to fully connect the rail transit networks of Hong Kong and Shenzhen.
In terms of "soft connectivity," the HKSAR Government has set up a Task Force to explore ways to advance the alignment of rules and mechanisms within the GBA. To achieve "connectivity of hearts" among residents across the GBA, Hong Kong will strengthen cooperation between its higher education institutions and those in other GBA cities by establishing cross-disciplinary partnerships, facilitating scientific research, knowledge transfer, and commercialization. This initiative aims to promote high-level research and foster cultural exchanges, including the passing on of Cantonese opera and the characteristics of Lingnan culture.
The HKSAR Government is also focusing on fostering financial development in the GBA. Hong Kong will continue to capitalize on institutional innovation, financial infrastructure upgrading, and enhanced regulatory alignment to encourage the orderly flow of financial elements among GBA cities. The Hong Kong Exchanges and Clearing Limited's Core Climate, in collaboration with the Guangzhou Power Exchange Centre, is working towards the pilot trading of national renewable-energy, green electricity certificates in Hong Kong in 2026.
To support green technology development, the HKSAR Government has launched the HK$400 million (about US$51 million) Green Tech Fund. This fund aims to leverage Hong Kong's function as a springboard for green technology and assist national green technologies and products in going global. Additionally, the government is participating in drafting national hydrogen energy standards to help these standards align with international practice. By combining technology strengths with industrial foundation, Hong Kong and Guangdong aim to jointly develop a globally influential green industry.
The HKSAR Government is also committed to meeting the country's "dual carbon" targets and fulfilling Hong Kong's commitment to achieving carbon neutrality before 2050. To this end, the government has steered the establishment of a production base for sustainable aviation fuel (SAF) in Dongguan, leveraging the leading position of Hong Kong enterprises in the international SAF industry. The government plans to take forward the construction of an SAF blending facility in Hong Kong to build an end-to-end SAF value chain and reduce logistics costs to make SAF prices more competitive. The target is to achieve an SAF consumption ratio of 1% to 3% for flights departing from Hong Kong International Airport in 2030.
Furthermore, Hong Kong's Five-Year Plan promotes the integrated development of culture, sports, and tourism, aiming to develop the GBA into a cultured bay area. Under the strategic framework of the Agreement on Strengthening of Sports Cooperation and Promotion of Integrated Development, Hong Kong will deepen cooperation, and strive to co-organize important regional and international single-sport events. It will also strengthen cultural exchanges, pass on Cantonese opera and the characteristics of Lingnan culture, and promote the sales and cross-boundary exhibition of Hong Kong publications.