Plan To Turn Border Area Into Innovation Hub Floated

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

Related News Programmes

"); });

2021-03-02 HKT 16:47

Share this story

facebook

  • Plan to turn border area into innovation hub floated

Lawmakers on Tuesday said the government should use soon-to-be vacated land near the border with Shenzhen for innovation and technology enterprises, to tie in with the Lok Ma Chau Loop.

At least 20 hectares of land, currently under the Lok Ma Chau Control Point, will be vacated once customs, immigration and quarantine clearance facilities are moved to the redeveloped Huanggang Port on the Shenzhen side.

Lawmakers at a meeting of Legco's Security Panel were told the relocation will be facilitated by a proposed co-location arrangement at the redeveloped site, similar to arrangements at Shenzhen Bay Port.

Secretary for Security John Lee said the cost of redeveloping the site will be entirely borne by the Shenzhen side, and officials forecast that the new Huanggang Port will be able to process up to 100,000 cross-border passengers each day.

Facilities at the new Huanggang Port will be rented to Hong Kong for a nominal HK$1,000 fee a year.

Lawmakers were entirely supportive of the proposed co-location arrangement, though the DAB's Steven Ho suggested Hong Kong may not be paying its fair share for the use of the facility.

"We should pay what we should be paying, instead of just taking advantage of them," Ho said.

"How do we reciprocate? For brotherhood cities, we have to be clear on our books... I hope the government will take note."

However, Business and Professionals Alliance lawmaker Priscilla Leung dismissed those concern.

"Any deal that is beneficial to Hong Kong government and Hong Kong people, I would welcome it," she said. "I won't say it is not beneficial to Shenzhen or the mainland, because they would also benefit from the co-location arrangement."

Lawmakers also turned their attention to what to do with the 20-hectare site that would be vacated by the Lok Ma Chau Control Point.

"I would like to make full use of this piece of land for science and technology, or newly built enterprise, to better serve as a linking point between Shenzhen and Hong Kong," Leung said.

"We all have to accept the fact that Shenzhen has been developing very quickly, in particular in terms of technology," she said. "So if Hong Kong people or young enterprise could benefit from it... I think that can be considered. So it really depends on how much wisdom the government can plan that piece of land."

The security secretary said lawmakers' views would be conveyed to the Development Bureau.

RECENT NEWS

HashKey Capital Partners With Tiantu AM To Explore Virtual Asset Funds

HashKey Capital has signed a memorandum of strategic collaboration with Tiantu Asset Management (Tiantu AM), a wholly o... Read more

You Can Now Make Alipay Payments With AR Glasses

RayNeo and Ant Group have announced a partnership to develop digital payment solutions for global use. The collaboratio... Read more

JICA Goes Live With Finastras Loan IQ In First Japan Deployment

Finastra has announced that the Japan International Cooperation Agency (JICA) has gone live with its Loan IQ platform. ... Read more

Japan Set To Approve First Yen-Backed Stablecoin

Japan’s Financial Services Agency (FSA) is preparing to approve the issuance of the country’s first yen-backed stab... Read more

Indonesia And China Begin Trials For Cross-Border QRIS Payments

Bank Indonesia (BI) and the People’s Bank of China (PBOC) have begun a series of trials for cross-border QR code paym... Read more

ANZ Appoints Ender Tanar As Japan Country Head

ANZ, headquartered in Melbourne, Australia, announced the appointment of Ender Tanar as Country Head for Japan, reporti... Read more