China Center for International Economic Exchanges

Chen Wenling: Forming a Mechanism for Coordinated Innovation
Date:Jan 26,2019    Source:CCIEE

The development of the ??Guangdong-Hong Kong-Macao Greater Bay Area has great significance. The current world has undergone dramatic changes and has brought us both opportunities and challenges. The competition between different countries will focus on manufacturing, high-tech, and innovation. Establishing a mechanism for coordinated innovation is important for China to become one of the leaders in innovation.

The bay area economy has become an important force driving world economic development. At present, 60% of the world’s economic aggregate is concentrated in the estuary, 75% of large cities, 70% of industrial capital and population are concentrated in the Bay Area, normally100 kilometers away from the coastline. The pattern of the greater bay area is based on one country, two systems, three customs zones, and four central cities. With innovation as the driving force, Guangdong, Hong Kong, and Macao will form new innovation impulses, synergies and explosive power. The formation of synergies between Guangdong, Hong Kong, and Macao will create greater integrated advantages than other Bay Areas. The innovation of the greater bay area requires the expansion of stock resources and the optimization of incremental resources, which will help promote supply-side structural reforms and achieve high-quality development.

Promoting coordinated innovation in the Guangdong-Hong Kong-Macau greater bay area.

First, we must further emancipate our minds, break down administrative barriers, form mechanisms for coordinated innovation, and build more platforms for innovation and cooperation. In particular, we must abolish institutional barriers, allow the four central cities to play a leading Role, and promote the free flow of human resource and information.

Second, we must make the best use of innovation-driven development and turn the greater bay area into a demonstration zone. Guangdong, Hong Kong, and Macao should work together to strengthen cooperation in higher education, scientific and technological innovation and intellectual property protection system in order to attract top talents and promote further opening up.

Thirdly, we should further promote opening up, collaborative innovation and a free flow of factors among the three regions. At the same time, the development of the greater bay area should be combined with the Belt and Road initiative to accelerate further opening up.

Last but not least, we must focus on key points and make extensive efforts. In addition to Guangdong, Hong Kong, and Macao, we should also make Nansha, Qianhai and Hengqin strategically highlands for innovation-driven development.

 

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