Work With 'brother Cities' For Economic Synergy: FS

Financial Secretary Paul Chan says Hong Kong needs to work with "brother cities" in the Greater Bay Area to make it a "world-class city cluster", and to ensure the SAR's economy is sustainably developed.

Writing on his blog on Sunday, the minister said that development could reach greater heights in areas such as trade, aviation and logistics.

"Looking ahead, the income of mainland residents will continue to grow, with its middle class population estimated to double from the current 400 million people to 800 million," he said, pointing out that the higher consumption power would bring a notable boost to Hong Kong exports to the mainland.

He said a planned logistics hub – which includes an airside cargo handling facility at the Hong Kong airport and a logistics park in Dongguan – would enable faster customs clearance for goods to be moved between the mainland and the rest of the world.

But he said as people’s shopping patterns change with the advancement of e-commerce, Hong Kong must improve its capacity in handling frequent orders for small quantities of goods with tight deadlines.