Plan To Turn Border Area Into Innovation Hub Floated
"); jQuery("#212 h3").html("

"); });
2021-03-02 HKT 16:47
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.
Vietnam And South Korea Launch Cross-Border QR Payments
Vietnam and South Korea have launched cross-border QR payments that allow Korean users to pay merchants in Vietnam thro... Read more
WeChat Pay Integrates With Local QR Networks In 5 Asian Countries
WeChat Pay has integrated its service with national QR code networks in five Asian countries, simplifying cross-border ... Read more
Global Transition Finance Ecosystem Gains Momentum
The global transition finance ecosystem is gaining momentum. According to new research by the Hong Kong Institute for M... Read more
Banking Circle Taps PayGate To Ease KRW Cross-Border Payments Into South Korea
Global payments bank Banking Circle will now handle cross-border transactions and settlement flows for South Korean pay... Read more
Equinix AI Discovery Hub Opens In Hong Kong For Enterprise AI
Digital infrastructure company Equinix is partnering with Hewlett Packard Enterprise (HPE) to launch the Equinix AI Dis... Read more
Tencent, Alibaba Eye DeepSeek Stake As AI Startup Tops US$20B Valuation
Chinese tech giants Tencent and Alibaba are in discussions to invest in AI startup DeepSeek, The Information reported, ... Read more