HK Free To Decide How To Implement GBA Plan: Nip

"); jQuery("#212 h3").html("

Related News Programmes

"); });

2019-02-23 HKT 14:18

Share this story

facebook

  • HK free to decide how to implement GBA plan: Nip

The Secretary for Constitutional and Mainland Affairs, Patrick Nip, on Saturday sought to allay fears about Hong Kong’s autonomy under recently announced plans for the Greater Bay Area – saying the SAR will be free to decide how to implement the blueprint.

The blueprint sets out details for a technology-driven economic powerhouse centred on Guangdong province to rival the likes of Silicon Valley.

The plans identify Hong Kong, Macau, Guangzhou and Shenzhen as “core engines” for development in the region.

Nip said the plan gives Hong Kong people more choice – by diversifying the SAR economy, making room for innovation, and also offering local citizens more living space.

But he said more thought needs to be put into how to make the implementation of the Greater Bay Area blueprint smooth, as currently systems and policies in the mainland and Hong Kong differ. He stressed however that this should all happen under the “One Country, Two Systems” framework, which gives the city an advantage.

Nip also explained that a proposal to transfer non-emergency patients for cross-border treatment is meant to make things more convenient for Hong Kong people planning to live or work in the bay area. But, he added, local medical needs would remain the priority.

RECENT NEWS

Future Fintechs Hong Kong Subsidiary Seeks VASP And Asset Management Licenses

Future Fintech, a financial and digital technology services provider, announced that its wholly owned Hong Kong subsidi... Read more

Can Regulation Scale With Innovation? Inside The Stablecoin Plans Of HK And The U.S.

Back in 2022, stablecoins were still an emerging topic. Yet, they stirred enough flurry for the Hong Kong Monetary Auth... Read more

Cyberport Start-ups Forge Regional Fintech Ties At MyFintech Week 2025 In Malaysia

Cyberport led a delegation of its fintech start-ups to MyFintech Week 2025 (MyFW 2025), held in Kuala Lumpur from 4 to ... Read more

Hong Kongs Stablecoin Law Triggers Industry Concerns Over KYC Rules

Hong Kong’s newly implemented stablecoin law, in effect since 1 August, has sparked concern among some in the industr... Read more

Stopping Fraud At The Gate: The New Imperative For Registration & Transaction Monitoring

The Asia-Pacific fintech landscape is thriving, fueled by the rapid adoption of digital payments, online banking and al... Read more

Hong Kong Private Banks See 14% Growth, Hire 400 More Wealth Managers

Hong Kong’s private banking and wealth management sectors are poised for further growth in hiring and office expansio... Read more