Amid a digital transformation in the art industry brought by the pandemic, museums and artists are looking into new revenue streams by integrating intellectual property practices with technologies, industry pundits said at a seminar on Friday. The online seminar, as part of the Business of IP Asia Forum, was jointly organized by the Hong Kong Special Administrative Region government, the Hong Kong Trade Development Council, the Hong Kong Design Centre and China Daily with the theme “New IP Trends in Cultural and Arts Industries”. “Intellectual property rights play a vital role in supporting a thriving creative economy, as they protect creativity and control the commercial exploitation of the products of the creative industries — an economic balance struck to promote creativity and innovation,” said Johnny Hon Sei-hoe, founder and chairman emeritus of Global Group International Holdings. Leveraging on IP practices such as brand cooperation and licensing deals, museums could reach broader audiences and diversify their revenue streams in combating the losses induced by the pandemic, said Louis Ng Chi-wa, director of the Hong Kong Palace Museum. Considered an intangible cultural asset, a museum‘s IP includes all the intellectual property rights owned by museums, Ng said. “Many museums faced significant losses in revenue through closures during the global pandemic,” he said, adding that the visitor figures for the world’s top 100 art museums dropped by 77 percent in 2020. More people have visited museums online than in real life in the last year, recording a total number of 1.6 billion visits to museum design stores on Tmall, the online marketplace operated by Alibaba, Ng said. “In the new museum world, nothing, it seems, is off-limits,” Ng said, prodding museums to grasp the opportunities through licensing deals to transform their business and expand their global audience. Hon said he believes that technology has changed the way art is bought, sold and developed, adding, “Artificial intelligence, blockchain, virtual and augmented reality are expanding access to the art world, increasing the speed of sales, and fundamentally changing how businesses operate in the art industry.” Pindar Wong Pin-dar, chairman of internet financial infrastructure consultancy VeriFi (Hong Kong), said non-fungible tokens can benefit artists who can efficiently earn from their intellectual properties. “The monetization of the artwork sometimes happens many years later when the artists are not alive. The NFTs experiment can solve the paradox. This provides a new way for living artists to make a living,” he said. Nick Chan Hiu-fung, partner of global law firm Squire Patton Boggs, warned that legal issues regarding intellectual property rights involved in art NFTs should also be considered. According to Chan, he assumes that the creator of an artwork risks being bound to some standard terms of sale in a public auction through NFTs, while a purchaser risks losing his or her money at a private auction due to a failed hosting site when paying with cryptocurrency. Chan said he believes that a lot of issues have to be more technologically neutral and future-proof. “Lawyers, artists, and technologists have to come together to overcome this minefield and succeed together,” he said. Contact the writers at xinlanzeng@chinadailyhk.com

新聞稿 即時發佈 2021年12月7日香港：主題為“混合融資與區域發展：對發展中國家的新影響”的專題研討會今日線上舉行，吸引逾120名商界、投資及金融界人士線上參會。 混合融資指戰略性地使用融資所籌集的資金，並協助發展中國家實現可持續發展目標。然而，目前大部分發展中國家缺乏使用混合融資所需的框架。根據報告顯示，就保護和恢復生態系統而言，預計需要投資3000億至4000億美元，但目前只有520 億美元投資用於此專案上。混合融資對可持續發展的影響成為當下值得關注的問題。 本次研討會由中國日報亞洲領袖圓桌論壇與先行投資管理有限公司合辦，邀請聯合國資本發展基金執行副秘書長塞維•米瓊作主旨演講，先行投資管理有限公司創始人兼首席執行官陳欽若、國際金融公司混合融資部投資官菲力浦•法倫霍爾茨、綠色氣候基金私營部門機制總監亨利•岡薩雷斯和經濟合作與發展組織可持續發展私人融資部門負責人保羅•霍羅克斯任討論嘉賓，中國日報亞太分社多媒體總監大衛•克拉克主持，共同探討混合融資如何彌補可持續發展目標的缺口，同時確保投資者獲得良好回報等議題。 塞維•米瓊表示，僅靠官方發展援助根本不足以為可持續發展目標提供資金, 我們還需要混合融資來吸引資本，為具有商業影響和發展潛力的專案提供資金。多年以來，混合融資實際一直在發展融資領域占很大比重。混合融資可能成為發展融資的一個有力手段，它可以為缺乏資本的發展型項目提供資金流。 陳欽若指出，混合融資是由公共或慈善團體進行初始投資、私營企業跟進參與，針對社會或環境發展項目的投資，私營企業同時也會獲得商業利益。混合融資在完成全球使命方面創造出全新的靈活性，提供多元的新途徑，同時實現社會和環境的共同發展。 菲力浦•法倫霍爾茨表示，參與混合融資的人都必須遵守相同規則，這一點十分重要。大家應謹慎對待，合理使用混合融資，否則有人會用其進行競爭，然後扭曲市場。金融機構往往是解決融資問題最有效的途徑，但如果想與其合作，就必須統一激勵措施。同時，金融機構還需嚴格遵守混合融資的原則，以確保不會造成市場扭曲。 亨利•岡薩雷斯認為，混合融資作為一種投資工具和機會，可以真正地將私人資本和公共資本結合起來，並讓它們各自發揮應有作用。因此，公共資本應該對風險開放，對創新開放，對早期投資開放，私人資本的作用則是將其提升到另一個水準並提供投資標準。 保羅•霍羅克斯表示，現在很多拿退休金的人希望長期投資可持續發展目標。可持續發展目標的投資領域缺口很大、機會很多，混合融資允許私人資本在發展中國家利用這些機會，未來這些國家的融資增長和需求十分可觀。 混合融資泛指使用公共或慈善資本吸引私部門投資，利用結構化方法使不同種類的資金共同投資，以達到共同目標，混合融資結構類型甚廣，包含基金、設施及公司等，主要目標均為增加對永續性發展的投資。 有關中國日報 中國日報是中國國家英文日報，全媒體用戶總數超過3.5億，目前全球下載用戶超過3600萬，是我國唯一下載量過千萬的英文新聞用戶端；微博粉絲數超過6170萬；微信訂閱人數達1300萬；臉譜帳號粉絲數超過1.042億，位居全球媒體帳號粉絲數第二位；推特帳號粉絲數約430萬。 有關中國日報亞洲領袖圓桌論壇 中國日報亞洲領袖圓桌論壇（www.cdroundtable.com）, 創建於2010年，旨在搭建一個由亞洲國家和地區的政、商、學界領袖和社會精英參與的高端對話和交流平臺，圍繞亞洲地區經濟、商業、產業和社會發展等具有戰略影響的重要議題展開討論和分享見解，以增進中國與亞洲國家和西方國家的交流和理解。迄今，在港澳和亞太多個國家和地區舉辦逾100屆，逾6萬名決策精英直接參會。

新聞稿 即時發佈 中國日報亞洲領袖圓桌論壇與亞洲知識財產權營商論壇合辦主題為“文化與藝術產業的新知識產權趨勢”的專題研討會,12月3日在香港舉行，吸引逾300名知識財產權創造人、企業決策人及業界翹楚線上參會。 知識產權在創意經濟發展及促進全球藝術市場增長方面扮演重要角色。據倫敦藝術市場分析公司ArtTactic發佈的資料顯示，預計全球藝術市場將由2020年的3475.3億美元增長到2021年的4050.5億美元, 實現16.6%的複合年增長率，2021年佳士得、蘇富比和富藝斯三家拍賣行的拍賣銷售額將增長230%，達到 59 億美元。在數位時代下, 知識產權侵權問題是一項巨大的挑戰。 本次研討會邀請翰宇國際律師事務所合夥人陳曉峰、高寶集團國際控股有限公司創始人及榮譽主席韓世灝、香港故宮文化博物館館長吳志華和 VeriFi（香港）有限公司主席黃平達擔任研討嘉賓，中國日報香港版多媒體主播阿紮•姆汗擔任主持人，共同分析知識產權如何保護創作者和推進文化藝術產業的投資, 藝術家如何利用科技增加知識產權的價值以及探討藝術家如何透過非同質化代幣來認證他們的知識產權並將他們的作品價值最大化。 韓世灝表示，知識產權在支持創意經濟方面發揮著至關重要的作用，知識產權保護創意，控制創意產業產品的商業開發。藝術產業和創意經濟越是通過使用創新技術進行轉型，知識產權的價值和重要性就越大。他認為會有更多的人關注收集數字藝術，因為藝術家將有更多方式探索自己的技術發展，如“增強現實”或“混合現實”領域。 黃平達認為“非同質化代幣”（NFT）存在本質上的悖論，即作品的創作隨時間變化，作品的貨幣化有時發生在多年以後，藝術家們早已不在人世。NFT實驗可以解決這一悖論，這為在世的藝術家提供了新的謀生方式。 吳志華提到，我們需要把藝術品和文物變成一個個生動的故事，這對品牌方和消費者而言，比在產品上僅僅使用藝術品的照片更有影響力和吸引力。在支援藝術家的生活和讓其作品更易被大眾接觸之間，我們必須做出平衡。 陳曉峰談及到法律層面有很多需要考慮的問題。例如，在大資料和智慧資料的時代，是否應該允許對他人版權的數據挖掘？不同渠道的傳播如何保護版權不受侵犯？“禁止他人複製”有哪些例外？合同覆蓋應該被允許嗎？是否應該設立知識產權專門法庭？ 與會嘉賓們一致認為，在融合技術創新和創意領域的新生態系統裡，任何原創作品和創意想法都需要機制的保障。 有關中國日報 中國日報是中國國家英文日報，全媒體用戶總數超過3.5億，目前全球下載用戶超過3600萬，是我國唯一下載量過千萬的英文新聞用戶端；微博粉絲數超過6170萬；微信訂閱人數達1300萬；臉譜帳號粉絲數超過1.042億，位居全球媒體帳號粉絲數第二位；推特帳號粉絲數約430萬。 有關亞洲智慧財產權營商論壇 由香港特別行政區政府、香港貿易發展局及香港設計中心合辦的亞洲知識產權營商論壇為世界各地智慧財產權業界專家及商界領袖提供一個理想平臺，共同探討亞洲知識產權市場的最新發展、探索商機。 有關中國日報亞洲領袖圓桌論壇 中國日報亞洲領袖圓桌論壇（www.cdroundtable.com）, 創建於2010年，旨在搭建一個由亞洲國家和地區的政、商、學界領袖和社會精英參與的高端對話和交流平臺，圍繞亞洲地區經濟、商業、產業和社會發展等具有戰略影響的重要議題展開討論和分享見解，以增進中國與亞洲國家和西方國家的交流和理解。迄今，在港澳和亞太多個國家和地區舉辦逾100屆，逾6萬名決策精英直接參會。

As global demand grows for culture and heritage-related travel, the Guangdong-Hong Kong-Macao Greater Bay Area, with rich cultural resources and heritages, has great potential for developing tourism, and Hong Kong is well-positioned to play a leading role in driving the trend, business leaders and experts said on Tuesday. They made the remarks at a panel discussion themed “Unlocking Tourism Collaborations through Cultural Sustainability and Heritage Development in the GBA”. The panel discussion was part of the Greater Bay Area Conference, co-organized by China Daily and the Hong Kong Coalition. Hong Kong will emerge from the COVID-19 pandemic as a tourist destination with stronger competitiveness and greater attractiveness, catering better to new demand from global travelers, said Pang Yiu-kai, chairman of the Hong Kong Tourism Board. “Hong Kong remains one of the world’s most vibrant and attractive destinations. The only major difference as we emerge from the pandemic is that we have much more, not less, to offer to global visitors when they return,” he said. “The emergence of the Greater Bay Area has broadened and brightened our horizons and provided us with the opportunities to showcase to the world the richness not only of Hong Kong, but also of a dynamic new region full of diversity, life, history and heritage.” Pang said that a growing trend for global travelers is to seek a higher degree of engagement in their visits, with a greater demand for an immersed cultural and heritage experience. Hong Kong, with a wealth of cultural resources and diverse tourist attractions, is “ideally” positioned to react to such a trend, he said. “We believe Hong Kong is well equipped to be the gateway to the Greater Bay Area, connecting the GBA cities to the world and bringing in this new breed of culture- and heritage-seeking tourists from every continent,” he said. Pansy Ho Chiu-king, group executive chairman and managing director of Shun Tak Holdings Ltd, said culture is one of the most important advantages of the Greater Bay Area, aside from its policy and market advantages. The Lingnan culture forms the foundation on which multicultural societies in the region rest, and binds different places in the Greater Bay Area together, she said. Ho said she has been making efforts to foster cultural exchanges and dialogue between Hong Kong and the world for many years, championing the promotion of Lingnan culture and formulating tourism strategies to invigorate the spirit of the culture. “By emphasizing culture and creativity in our strategies, we can unlock collaboration across the region and ultimately across the wider global tourism economy,” she said. Adrian Cheng Chi-kong, CEO of New World Development Co Ltd, said heritage economics is a new kind of economy, a flourishing trend that embraces not only the physical heritage of the past, but the living heritage of humanity. “As a West-and-East hub for cultural exchange, Hong Kong has great potential to turn the city into a cultural heritage destination for all,” Cheng said. Hong Kong as well as the whole Greater Bay Area are destined to play a significant role in welcoming this new era of a living-heritage economy, as the city is rich with relics of its heritage stories where West and East meet in a fruitful combination, Cheng said, appealing that this heritage should be kept alive for a vibrant and viable future. Cheng also said that opportunities to blend culture, heritage and tourism are immense, particularly in the East-and-West cultural hub of Hong Kong and the wider Greater Bay Area, adding that he expects the advent of a vibrant future for the region as a cultural destination for the world. Han Wangxi, director of the Shenzhen Innovative and Creative Design Development Office, said, “How to realize the creative transformation and innovative development of traditional culture is a major issue in theory and practice, while the revival of history and culture, the enhancement of the city’s vitality and the implantation of diverse cultures all require careful consideration.” Han introduced the Nantou Old Town revitalization project, which places great emphasis on the collection of historical data and research on the ancient town. With the aim of exploring the “cultural heritage of the same clan and origin” of Shenzhen, Hong Kong and Macao, the Nantou historic town project could be restored to a high quality, comprehensive and maximum respect for history, leaving behind Shenzhen’s memory and passing on a thousand-year culture, Han said. Louis Ng, director of the Hong Kong Palace Museum, said, “There has been a shift from tangible heritage-based experiences to more intangible and creative forms of content in recent years.” He said that the tourism industry must grab these new opportunities to deal with the current crisis, and the integration of culture through some technologies is a crucial element of this and will become an important engine for developing a sustainable tourism industry in the future. The Hong Kong tourism industry is facing unprecedented challenges under the global pandemic. It’s time to upgrade tourism products, create new resources and shape a more sustainable and innovative tourism ecosystem, Ng added. Eric Fok, vice-president of Fok Ying Tung Group, highlighted the role sports could play in enhancing national identity and deepening integration between Hong Kong and the Chinese mainland. He took the 2020 Tokyo Olympics as an example. The outstanding achievements that the national team and Hong Kong team made in the Olympics have greatly increased cultural confidence and enhanced national identity among Hong Kong people, stirring up a wave of patriotism, he said. The expected visit of dozens of national athletes to Hong Kong on Friday will further promote integration and understanding between Hong Kong and the Chinese mainland, Fok added. “With the increase of cultural confidence through sports and friendship, we are really able to integrate ourselves and contribute towards the economic growth of the Greater Bay Area,” he said. Contact the writers at sally@chinadailyhk.com

The ability to produce ingenious creations such as those that emerge from the Regional Comprehensive Economic Partnership is what their origin countries have in common — and that’s the common theme that unites Hong Kong and the RCEP’s member states as they orchestrate a collective melody. This is the takeaway from the Greater Bay Area Conference organized by China Daily and the Hong Kong Coalition on Tuesday. Victor Fung Kwok-king, group chairman of the Fung Group, opined that the region has been faced with many overlapping bilateral trade agreements, but each has its own unique definition of what it means to be a country of origin. What is very important is that the RCEP comes up with one common definition for a country of origin, and that is crucial to all practitioners, Fung noted. Therefore, what we should see is the creation of the next generation of global trade, he said, and it is the new World Trade Organization, which can encompass a new multilateral system. As Hong Kong has traditionally played a critical role in the WTO, the metropolis will see a similar role in this new development — in the innovation of the Guangdong-Hong Kong-Macao Greater Bay Area with the RCEP, Fung said. Looking at the whole Asia-Pacific region, Fung said the trading map of Asia is like an hourglass, and at the neck of the hourglass are Hong Kong and the Greater Bay Area. “Hong Kong and the Greater Bay Area will play a crucial role in linking the northern Asian economies to the southern ones,” Fung said, adding that he believes the “north-south flows within Asia” will be one of the most important flows in the world in the next decade. “We’re right in the middle of intermediating in this,” he stressed. Indeed, an inspection of the RCEP map reveals that Hong Kong, yet to be officially part of the RCEP, sits right in the middle of the member regions, remarked Jonathan Choi Koon-shum, chairman of the Guangdong-Hong Kong-Macao Bay Area Entrepreneurs Union. Hong Kong is internationally recognized for being an open, free economy, which is showcased in its valued presence and leverage in the Greater Bay Area and the ASEAN Free Trade Agreement. The city’s proven record in its economy and geographical vantage point makes the special administrative region well-placed to facilitate both the Chinese mainland market and international market to prosper, through connection and collaboration. This is not hard to decipher, given that “Hong Kong is the biggest investor in the Chinese mainland. Chinese companies want to go international. They can hardly make the jump on their own, but can do easily through Hong Kong. For investors who want to venture in the Greater Bay Area, they come first to Hong Kong,” Choi explained. It’s obvious to see Hong Kong has claimed the role of a “platform” and “springboard” that “brings the two sides (foreign and domestic) together”. This is aligned with the national goal under the 14th Five-Year Plan (2021-25), where China’s economic development is set to pivot on a dual circulation paradigm, Choi added. Choi said that Hong Kong stands a good chance of eventually getting into the RCEP as well as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. The RCEP is larger in scale and influence, with lower tariffs and simpler rules and procedures drawing in more trade partnerships, services and investments, he added. A good thing about RCEP is that there’s less restriction on the rules of service import, compared to Closer Economic Partnership Arrangement, said Witman Hung, principal liaison officer for Hong Kong at the Shenzhen Qianhai Authority. If these rules can be leveraged properly as a means to loosen restrictions on Hong Kong’s service trade with the mainland, it will pay dividends for both sides, he said. David Liao, co-chief executive of the Hong Kong and Shanghai Banking Corp, said the removal of rigid tariff barriers will invite more businesses, investments and capital flows to Hong Kong, which allows the SAR to enrich its expression of success through all forms of opening-up with the Chinese mainland to the international finance market. Liao finds the “chorus”, “unison” and “positivity” brought by the RCEP pretty encouraging. “We believe we’re heading to 50 percent of the global GDP share. Participating in this with tariff barriers removed will drive GDP growth by 1.6 percent and investment growth by 2.7 percent in the coming year.” On top of that, it’s empowering because “it’s dealt with rules of commonality and origins,” Liao reckoned. “It’s like a new language in the region.” A common language lays the foundation for mutual understanding, further spurring unity and coalition, he said. The impact of the RCEP which covers a whole list of countries is bound to be far-reaching. A ripple effect of the RCEP will radiate far and wide. Liao said HSBC strategically pivots to Asia because it is seeing that GDP and investment growth there are sustainable thanks to vigorous economic activities through the RCEP. “It helps us digitalize at scale,” Liao said of the digital journey of a bank to service payments and cash management in trade finance. “It helps when there’s a common language, a consistency and transparency.” Cyberport Chairman George Lam echoed that it’s not just a north-south trade superhighway – it’s also a digital highway. Lam called it the “new export”, taking the examples of Cyberport’s health technology and smart city solutions to help other economies. The government-owned Cyberport is a digital community of about 1,650 startups and technology companies, of which 200 are not local. “Now, it’s important for us to attract another 1,000 (of the) very best companies from the mainland to be here to reach out to the RCEP region,” he said. “We should become the super salesman for the Greater Bay Area and China and make ourselves more attractive to RCEP members by attracting the very best companies in China.” Contact the writers at jenny@chinadailyhk.com

The Guangdong-Hong Kong-Macao Greater Bay Area offers abundant opportunities for Hong Kong’s entrepreneurs and younger generations, backed by preferential policies and market demand, business leaders and experts told the Greater Bay Area Conference on Tuesday. “There are huge opportunities for community-level medical services from the RCEP (Regional Comprehensive Economic Partnership) and the Greater Bay Area, especially in elderly care and the treatment of common chronic diseases,” noted Kevin Lau Chung-hang, founding director of Trinity Medical Centre, a Hong Kong-based healthcare services provider. The huge market demand for healthcare services is created by the region’s rapid economic growth and an aging population, he said. Besides the market potential, the favorable policies of local governments would benefit businesses in the Greater Bay Area in four key areas — infrastructure interoperability, financial interconnection, science and innovation, as well as urban strategy. There are also other advantages, such as tax incentives and land supply, which can substantially encourage companies to expand in the region, said Lau. “It was announced two months ago that drugs, vaccines and machines that are available in Hong Kong can now enter the GBA tariff-free and be subject to the same taxes we pay in Hong Kong. That’s a huge game changer.” He said Hong Kong is uniquely placed for the medical industry to develop, backed by top-notch medical research institutions and the sector’s maturity. According to the latest statistics from Hong Kong’s Food and Health Bureau, the SAR’s healthcare system, by global standards, has higher quality health services and better results at relatively low expenditures, taking up only 6.5 percent of the city’s GDP last year. Patrick Lau, deputy executive director of the Hong Kong Trade Development Council, noted that many startups in the Greater Bay Area have developed rapidly in recent years, taking advantage of the preferential policies of the central and local governments. Citing the case of a successful pet-insurance company operating in the Greater Bay Area, Patrick Lau said the region is a place to find key consumers. “That’s why they want to expand there as the first step.” The Greater Bay Area is also a good place for businesses to tap the Chinese mainland’s huge market. “Many international enterprises are very keen about doing business in more GBA cities and have reached from their Hong Kong and overseas offices amid the pandemic. Everyone is very keen about the opportunities in the region,” he said. Patrick Lau noted that the HKTDC has launched GoGBA — a platform that provides constantly updated policies in the region for entrepreneurs and startups. “The GBA is a very competitive market. That’s why entrepreneurs have to be very well prepared and do adequate research concerning their own business sectors. They need to utilize all the available government incentives and policies to ensure they have a bigger chance of success,” he said. Clarence Ling Chun-kit, director of Kwai Hung Group, urged young people to explore the opportunities in the Greater Bay Area themselves. “You never know unless you experience it yourself, unless you know what’s happening. Sometimes, Hong Kong people are too proud of themselves. I suggest that Hong Kong’s youngsters go across the border regularly and be on the ground to know what’s going on, and contribute to the country.” William Shum, founder and chief executive officer of Memorigin Watch Co, shared his experience in leveraging the market potential of the watch industry in the Greater Bay Area. To many people, the watch industry seems very traditional, he said. But, Hong Kong is a good place that embraces different cultures. “It’s a good window to the global market with the merging of Eastern and Western designs. By merging East and West, we can convince customers (to buy our products) and develop (our company) in the GBA in a very fast and efficient way.” With a blended culture and an open atmosphere, Shum said he introduces different elements into his products. These include not only Hong Kong art or comics, but also well-known Western icons, such as Marvel and Disney. With the combination of Western and Eastern designs, the products can vary to accommodate various customers. “We can contribute to the nation’s 14th Five-Year Plan(2021-25) by using Hong Kong’s unique hub status and also the strengths of other GBA cities to develop the country’s ‘dual circulation’ strategy step by step,” he added. Contact the writers at xinlanzeng@chinadailyhk.com

Hong Kong, not yet an official part of the RCEP, is in a key position to deepen ties among all players of the world’s largest trade deal. A well-integrated Greater Bay Area is the starting point for its new role. Oswald Chan reports. Hong Kong’s status as a regional professional services hub will be strengthened by the Regional Comprehensive Economic Partnership, so the city should launch a global publicity campaign to promote the professional services sector, panelists said on Tuesday at a roundtable conference organized by China Daily and the Hong Kong Coalition. Themed “Embracing New Opportunities: Connecting GBA with RCEP”, the roundtable meeting consisted of a physical conference held in Hong Kong and a virtual event of about 400 people, including government officials, business leaders and academia members to discuss and provide updates on the new opportunities for Hong Kong and the Guangdong-Hong Kong-Macao Greater Bay Area. “Within the RCEP, the Chinese mainland is the biggest market of professional services, and Hong Kong the biggest overseas provider. Hong Kong is extremely well placed to facilitate foreign firms in utilizing the new access to the mainland market under the RCEP,” said Leung Chun-ying, vice-chairman of the Chinese People’s Political Consultative Conference National Committee. In delivering the keynote speech through a pre-recorded video, Leung said that Hong Kong’s professional services of banking, insurance, information technology, logistics, intellectual property and maritime services, including ship registration, marine insurance and legal services, are sought by mainland business enterprises. According to Leung, the total Hong Kong trade in services amounted to $180 billion in 2019, or about 49 percent of the city’s GDP. The RCEP, comprising the 10 ASEAN nations as well as China, Japan, South Korea, Australia and New Zealand, will be the world’s largest free trade agreement that accounts for 30 percent of the world population, one-third of the global GDP, and nearly one-third of global trade. It will come into force on Jan 1. ‘When the boundary check-up points are reopened, albeit partially, Hong Kong has to execute a catch-up plan. We should launch a global publicity campaign to tell our RCEP partners that Hong Kong the super-connector is back in business, and that Hong Kong has a unique role in the GBA,” Leung highlighted. Liu Guangyuan, commissioner of the Ministry of Foreign Affairs of the People’s Republic of China in the Hong Kong Special Administrative Region, said that the country stands ready to work with other countries to develop the advantages of the Greater Bay Area, and enhance its facilitating role in the “dual circulation” economic strategy. “We will strengthen connectivity in the GBA and establish high-standard rules compatible with the RCEP. We will promote hard connectivity of infrastructure and soft connectivity of rules and mechanisms, and accelerate efficient flows of factors to maintain a stable global supply chain, advance economic integration and share benefits across the world,” Liu said during the keynote addresses. The country will take the RCEP as a great opportunity to expand cooperation with relevant countries in the digital economy and green economy, and jointly build demonstration zones for economic innovative development, Li added. “The RCEP is a win-win proposition. While the enhanced investment flow helps developing member states to raise the standard of production and income levels, and thus move up the value chain, developed economies can cut down on overhead by setting up manufacturing bases in the ASEAN states while also catering to those markets,” said Zhou Shuchun — a member of the Standing Committee of the CPPCC National Committee and publisher and editor-in-chief of China Daily — through a pre-recorded video. Hong Kong Coalition Deputy Secretary-General Eva Cheng told panelists during the welcoming remarks: “Hong Kong, as a major metropolis, has always been smart about integration. I offer that the best place to start doing all this is close to home and with neighbors who know and understand. This is why connecting the GBA with the RCEP is of particular significance.” The Greater Bay Area, consisting of nine mainland cities in Guangdong province and the two special administrative regions of Hong Kong and Macao, has a total population of more than 86 million with a combined GDP of nearly $1.67 trillion. Contact the writer at oswald@chinadailyhk.com

As a star-studded delegation of national athletes will meet with the Hong Kong public for three days beginning Friday, a frisson of thrill is anticipated. Will their visit trigger a whirlwind of passion for sports among Hong Kong youth? The answer is likely to be yes because sports is a main attraction in the Guangdong-Hong Kong-Macao Greater Bay Area, and the sporty mood is already there. Probably nobody is in a better position than Eric Fok Kai-shan, vice-president of Fok Ying Tung Group, to give the background of sports in the region. Fok is the vice-chairman of Hong Kong Football Association as well as vice-chairman of the Hong Kong United Youth Association. porting culture has a universal language, blurring barriers of all forms and boasting the power of bonding through tacit mutual understanding and respect. This year, sports have brought hope and spirit to a world languishing in the vestige of the COVID-19 pandemic, through the 2020 Tokyo Olympics, Fok said. “You can see the power of sports in uniting communities and societies,” he said. The agency of sports might well be amplified in the 15th National Games in 2025, which will be jointly hosted by Hong Kong, Guangdong province and Macao. “This is the first-ever national sports games being held in the region since the Greater Bay Area was launched. It is a very forward-thinking move by the central government because through the games, the ‘9+2’ cities can be truly linked up,” Fok said. He said he expects mutual understanding to be fostered when people travel across the border to different GBA cities to watch the games. When sports and youth — the epitomes of dynamic and positivity — come together, there is chemistry, Fok said. The idea of leveraging sports to spark heartfelt interaction can be traced back to as early as 1978, when the first Guangdong-Hong Kong Cup was held to promote the integration and exchange between the two cities, he said. But these days, the focus of Guangdong-Hong Kong communication “has been more on the youth”, Fok said. As the executive chairman of Hong Kong Guangdong Youth Association, he initiated the first session of a Greater Bay Area soccer contest in 2018, the seminal year marking the 40th Guangdong-Hong Kong Cup and coincidentally the 40th anniversary of China’s reform and opening-up. Over 200 young soccer enthusiasts from the three regions ostensibly pit against each other’s teams at the annual GBA youth soccer exchange event, but beneath the surface friendship, affection and collectivism were sown, which is precisely what Fok expects to see. “We hoped the youth to understand more of the nation’s development through participating in the tournaments.” Carrying on this “formula”, Fok said they continue to organize a GBA youth soccer contest in Guangzhou every year, along with GBA basketball tournaments in Dongguan. The young generation today might throw a dismissive shrug to the traditional forms of sports because they are always looking for something that gives them a much bigger adrenaline rush. Attuned to the young people’s tastes, Fok has promoted esports, aiming to launch a Hong Kong esports soccer league, and the winners will represent Hong Kong in esports at the Hangzhou 2022 Asian Games.

Hong Kong should be more proactive in identifying and embracing new opportunities for connecting the Guangdong-Hong Kong-Macao Greater Bay Area to the Regional Comprehensive Economic Partnership to achieve further economic and social progress, panelists said at the Greater Bay Area Conference in Hong Kong on Tuesday. The event, held both online and offline, was organized by China Daily and the Hong Kong Coalition on the theme “Embracing New Opportunities: Connecting GBA to RCEP”. It brought together about 400 people, including government officials, business leaders and academics, to discuss and provide updates on the new opportunities for Hong Kong and the GBA. “The significance of the RCEP to Hong Kong lies not so much in Hong Kong itself being a producer or a consumer, we are too small for that, but in our close relationships with the Chinese mainland, a huge producer, assembler and ultimate consumer. And the GBA is a significant part in this equation,” said Leung Chun-ying, vice-chairman of the Chinese People’s Political Consultative Conference National Committee. “Hong Kong plays an important role in merchandise trade between ASEAN (the Association of Southeast Asian Nations) and the Chinese mainland. Hong Kong should rediscover its role in north-south trade between the mainland and ASEAN,” Leung said in a video speech. The RCEP, comprising 10 ASEAN nations as well as China, Japan, South Korea, Australia and New Zealand, is the world’s largest free-trade agreement, accounting for 30 percent of the world population, one-third of the global gross domestic product and nearly one-third of global trade. It will come into force on Jan 1. Liu Guangyuan, commissioner of the Ministry of Foreign Affairs in the Hong Kong Special Administrative Region, said: “Our office will continue to serve Hong Kong through diplomacy, firmly support Hong Kong in expanding foreign exchanges and cooperation, and give full play to its established advantages. “We are determined to help Hong Kong to engage more deeply with the GBA and the Belt and Road Initiative, so as to contribute our share to deepening the China-ASEAN Comprehensive Strategic Partnership under the RCEP,” Liu said. The GBA, consisting of nine mainland cities in Guangdong province and the two special administrative regions of Hong Kong and Macao, has a total population of more than 86 million and a combined GDP of nearly $1.67 trillion. Addressing the conference in a video speech, Zhou Shuchun, a member of the Standing Committee of the CPPCC National Committee and publisher and editor-in-chief of China Daily, said, “Such fraternal vibes make us optimistic about the future of China’s relationships with her trading partners in the Asia-Pacific. “All of us will have a more nuanced idea about how cities in China’s Greater Bay Area can tap into the supply chain and demand in a wide diversity of markets through the RCEP framework, and lead the way in creating, to quote President Xi Jinping, once again, a unified, open, competitive and orderly market system,” he added. In her welcoming remarks to the conference, Hong Kong Coalition Deputy Secretary-General Eva Cheng said that the GBA is “China’s most powerful economic growth engine”, and added that the “RCEP is the world’s single largest free-trade agreement”. “Our theme is about connecting the two. It is about integrating the largest with the most powerful. Integration is a key word.” oswald@chinadailyhk.com

Editor’s note: The following is the full text of the keynote speech by Liu Guangyuan, commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the HKSAR, at the Greater Bay Area Conference - Embracing New Opportunities: Connecting GBA with RCEP co-hosted by China Daily and Hong Kong Coalition on Nov 30, 2021. The Honorable Vice-Chairman Leung Chun-ying, Publisher and Editor-in-chief Zhou Shuchun, Deputy Secretary-General Eva Cheng, Distinguished guests, Ladies and gentlemen, Good morning! I’m much honored to attend the Fourth Guangdong-Hong Kong-Macao Greater Bay Area Conference co-hosted by China Daily and Hong Kong Coalition. Let me begin by extending warm congratulations on the conference on behalf of the Commissioner’s Office of the Ministry of Foreign Affairs in the HKSAR. In his speech at the opening ceremony of the Fourth China International Import Expo, President Xi Jinping said that “opening-up is the hallmark of contemporary China”. Indeed, over the past two years since the rollout of the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area, the GBA has made great headway in opening-up and cooperation. A superior environment for living, working and traveling is gradually taking shape. The achievements in the development of the GBA so far have fully demonstrated China’s determination to open up wider to the world, displayed advantages of the “one country, two systems” policy, and drawn a new blueprint for sharing opportunities together with the international community. The development of the GBA is a new window for China’s high-level opening-up. China is fostering a new development paradigm featuring “dual circulation”, with the internal circulation serving as the mainstay while the internal and external circulations reinforcing each other, and is committed to building a more market-oriented, law-based and world-class business environment. The GBA, as one of the most open and dynamic region in China, is an “innovation pilot zone” for China to build a new pattern of opening-up. With the steady progress in developing major cooperation platforms such as Qianhai, Hengqin and Nansha, and the introduction of more opening-up measures in trade, finance, science and technology, the GBA has shown to the world that China will not change its resolve to open up wider at a high standard; China will not change its determination to share development opportunities with the rest of the world; and China will not change its commitment to an economic globalization process that is more open, inclusive, balanced and beneficial for all. The GBA is a new benchmark in the successful practice of “one country, two systems”. In the development of the GBA, one fundamental principle has been firmly followed—that is sticking to the very basis of “one country”, leveraging the advantages of “two systems” and acting in strict accordance with the nation’s Constitution and the Basic Law of HKSAR. For Hong Kong and Macao, “one country, two systems” is their biggest advantage, and the GBA is their best stage. The central government attaches high importance to the long-term prosperity and stability of both Hong Kong and Macao as well as the well-being of the people, and has adopted a series of policies to support the two SARs and their cooperation with Guangdong province. The purpose is to harness the strengths of Hong Kong and Macao and respond to the needs of the country. When Hong Kong and Macao further integrate into the overall national development, they could unlock new growth potential and make new achievements, thus unleashing huge dividends of integrated development and contribute to lasting success of “one country, two systems”. The GBA is a new platform for win-win cooperation between China and the rest of the world. The GBA will set up high-standard trade and investment rules, and forge new strengths in international cooperation and competition. Countries around the world are welcome to take part in the region’s development, deepen cooperation, and achieve win-win. At present, the international trade in the GBA has topped RMB 14 trillion, and its FDI value has reached US$103.7 billion. It is home to dozens of Fortune Global 500 headquarters and a growing number of talents both at home and from abroad are being attracted to this emerging global top-tier bay area and world-class city cluster. The GBA has also been recognized as a fertile ground for foreign investment and business in China, a driver for win-win cooperation between China and other parts of the world, and a catalyst for balanced and sustainable growth in the global economy. The theme of this conference, “Embracing New Opportunities: Connecting GBA with RCEP”, is highly relevant today. China practices true multilateralism, firmly upholds the multilateral trading system with the WTO at its core, takes the lead in ratifying the RCEP, and works for an open world economy. Upon its full and effective implementation, the RCEP will become the world’s largest free trade zone that accounts for about 30 percent of the global population, economic output and total exports. This will mark a significant progress in economic integration in East Asia, inject strong impetus into regional and global growth, and is of significant importance to today’s world which is bothered by profound changes and a pandemic--both unseen in a century. In the context of the RCEP, the GBA faces both new opportunities and challenges. To better implement national opening-up measures, promote regional integration, and speed up global economic recovery, we need to focus on three key words. First is “development”. Development is the golden key to solving both global and regional economic and social problems. China stands ready to work with other countries to develop the advantages of the GBA including its sound industrial system and favorable location, and enhance its facilitating role in China’s dual-circulation development strategy. We will deliver on our promise to the RCEP on market opening-up, promote high-quality development of trade and investment, and build a new pattern of integrated development as an open economy. These actions will make development more balanced, coordinated and inclusive, so that the fruits of development could benefit all people in this region and around the world in an equitable way. Second is “connectivity”. The GBA is featured with “one country, two systems and three customs zones”. For the successful development of the GBA, aligned rules, smooth flow of production factors and close ties between people are key cornerstones. We will strengthen connectivity in the GBA and establish high-standard rules compatible with the RCEP. Market access in the GBA will be further eased by implementing a management system of pre-establishment national treatment plus a negative list. What’s more, we will promote “hard connectivity” of infrastructure and “soft connectivity” of rules and mechanisms, and accelerate efficient flow of production factors. These efforts will help maintain a stable global supply chain, advance economic integration and share benefits across the world. Third is “innovation”. The GBA’s development strategy is innovation-oriented. This region boasts a high concentration of factors of scientific and technological innovation as well as exceptional capabilities in R&D and industrial application. The Shenzhen-Hong Kong-Guangzhou science and technology cluster takes second place in a global ranking. China has announced the launch of the China-ASEAN Science, Technology and Innovation Enhancing Program. In the future, we will take the RCEP as a great opportunity to expand cooperation with relevant countries in digital economy and green economy and jointly build demonstration zones for economic innovative development. These measures will enhance the role of the GBA as a player, a contributor and a pioneer in the new round of global technological revolution and industrial innovation. Hong Kong enjoys the strong backing of the motherland, and is a key hub in the Asia-Pacific and a crucial bond of the whole world. As the central city of the GBA and the most international city in the region, Hong Kong enjoys remarkable advantages such as a steady financial market, free flow of capital, a sound legal environment and robust professional services. It has also signed free trade agreements with 13 RCEP economies. Thanks to the National Security Law for Hong Kong and its improved electoral system, Hong Kong has shifted from chaos to stability and prosperity, and has a big role to play in the GBA and China’s new round of opening-up. The positioning of Hong Kong in the 14th Five-Year Plan as an international financial, shipping and trading center and the global offshore RMB business hub will further strengthen Hong Kong’s role as a “super-connector”, and boost the development of Hong Kong and the GBA as a whole. Last week, our Commissioner’s Office, together with the HKSAR government and the Guangdong provincial government, jointly organized a virtual tour to the Greater Bay Area for foreign businesses operating in Hong Kong, which was warmly welcomed and widely received. After the event, foreign business leaders said that they are optimistic about the future of Hong Kong and the GBA as a whole. They will stay in Hong Kong, seize opportunities here, and contribute to the development of the GBA while sharing benefits of China’s high-level opening-up and pursuing faster and better development of their business. Great visions can be realized only through concrete actions. Going forward, our Office will continue to serve Hong Kong through diplomacy, firmly support Hong Kong in expanding foreign exchanges and cooperation, and give full play to its established advantages. We are determined to help Hong Kong SAR to further integrate into the GBA and participate in the “Belt and Road Initiative”, so as to contribute our share to deepening the China-ASEAN Comprehensive Strategic Partnership under the RCEP. I believe, with the joint efforts of all of us, we will certainly reach new heights in the GBA development and China’s reform and opening-up, and also, open a new bright chapter for “one country, two systems”. Finally, I wish this conference a resounding success! Thank you!

For Immediate Release PRESS RELEASE Leaders Explore RCEP Opportunities for Hong Kong and the GBA at 2021 Greater Bay Area Conference HONG KONG, Nov. 30, 2021 — Co-organized by China Daily and the Hong Kong Coalition, the Greater Bay Area Conference was held on Tuesday. The Honorable Mr. C.Y. Leung, GBM, GBS, JP, vice-chairman of the Chinese People’s Political Consultative Conference National Committee, and Mr. Liu Guangyuan, commissioner, the Ministry of Foreign Affairs of the People's Republic of China in the Hong Kong SAR, delivered keynote addresses, which were followed by three panel discussions. The "Greater Bay Area Conference 2021" was held in Hong Kong on Tuesday. The Honorable Mr. C.Y. Leung, GBM, GBS, JP, vice-chairman of the Chinese People’s Political Consultative Conference National Committee, and Mr. Liu Guangyuan, commissioner, the Ministry of Foreign Affairs of the People's Republic of China in the Hong Kong SAR, participated in the event. Under the theme “Embracing New Opportunities: Connecting GBA with RCEP”, the conference explored RCEP business opportunities for Hong Kong and the GBA in the long run and examined the current economic landscape. The conference brought together C-level senior executives from Fortune Global 500 and China 500 companies, think tanks, academics, media and experts from public and private sectors across Asia. In the keynote addresses, CY Leung indicated that Hong Kong is the super-connector of the world. “We are one of the largest global trade hubs for both goods and services. Now we have a new boost. The Regional Comprehensive Economic Partnership (RCEP) is the largest free trade agreement ever forged. As we speak, barriers between Hong Kong and the other cities in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) are being lowered, one after another,” he said. “Therefore, the significance of the RCEP to Hong Kong lies not so much in Hong Kong itself being a producer or a consumer — we are too small at that — but in our close relationships with the mainland of China and a huge producer, assembler and ultimate consumer.” The words that he would borrow today were “more proactively”. Opportunities for Hong Kong to connect the GBA to the RCEP will remain no more than opportunities unless and until we turn them into realities — realities of economic and social progress, he said. Mr. Liu Guangyuan mentioned that the achievements in the GBA have fully demonstrated China’s determination to open wider to the world displayed advantages of the “one country, two systems” policy, and drawn a new blueprint of sharing opportunities together with the international community. Under the RCEP, the GBA faces both new opportunities and challenges. Three key words, namely, “development”, “connectivity” and “innovation”, need to be focused on, he said. He said, “Thanks to the National Security Law and the improved electoral system, Hong Kong has transformed from chaos to stability and prosperity, and has a big role to play in the GBA and China’s new round of opening-up. The positioning of Hong Kong in the 14th Five-Year Plan as an international financial, shipping and trading center and the global offshore RMB business hub will further strengthen Hong Kong’s role as a ‘super-connector’, and boost the development of Hong Kong and the GBA.” In the welcoming remarks, Mr. Zhou Shuchun, a Standing Committee member of the Chinese People’s Political Consultative Conference National Committee and China Daily publisher and editor-in-chief, perceived that the RCEP is a win-win proposition. “It is a coming together of economies big and small, developed and developing. While the enhanced inflow of investment helps developing member states to raise the standard of production and income levels, and thus move up the value chain, developed economies can cut down on overhead by setting up manufacturing bases in the ASEAN states while also catering to those markets. The idea ties in with President Xi’s notion of common prosperity — informed by the democratic philosophy that sharing of wealth and resources can only benefit everyone concerned in the long run,” he said. He said that such fraternal vibes make us optimistic about the future of China’s relationships with her trading partners in the Asia-Pacific. He hopes after we have listened to our eminent speakers and panelists at today’s conference, all of us will have a more nuanced idea about how the cities in China’s Greater Bay Area can tap into the supply chain and demand in a wide diversity of markets through the RCEP framework, and lead the way in creating, to quote President Xi once again, a “unified, open, competitive and orderly market system”. Mrs. Eva Cheng, deputy secretary-general of the Hong Kong Coalition, pointed out that the GBA is China’s most powerful economic growth engine, and the RCEP is the world’s single largest free trade agreement. And the theme is about connecting the two. It is about integrating “the largest” with “the most powerful”. She said: “Integration is a key word. And talking about integration, the RCEP has fostered regional market integration among 15 of Asia’s biggest economies and markets. The GBA has also fostered integration among 11 key cities that collectively form the most vibrant bay area in South China. Now, we are glad to see that for the first time in history, China’s National 14th Five-Year Plan mentioned ‘integrated development’ with Hong Kong in its text. That’s certainly going to open another new chapter in the story of Hong Kong.” She said “Now is the time for humanity to work closer together than ever before. The threat of deglobalization is real, and the forces of decoupling brought about by geopolitics is haunting. Now is the time to connect, to harmonize, to integrate, to fight COVID-19, to fight climate change, to grow and prosper together and be strong.” According to the 14th Five-Year Plan (2021-25), adopted in March 2021, the “dual circulation development paradigm” allows the domestic and overseas markets to reinforce each other, with the domestic market as the mainstay. How can Hong Kong, as the international business hub for the Guangdong-Hong Kong-Macao Greater Bay Area, leverage its composite advantages to connect the RCEP with the GBA, and to further boost economic growth and recovery? Under the theme of “Embracing New Opportunities: Connecting GBA to RCEP”, the conference gathered thought leaders from across the region to discuss and provide updates on the latest developments of various sectors as well as new opportunities for Hong Kong and the Greater Bay Area. Hong Kong has expressed a strong interest in joining the Regional Comprehensive Economic Partnership (RCEP) Agreement, which is the first free trade agreement between China and 14 other countries in the Asia-Pacific region. With 30 percent of global GDP and 30 percent of the world’s population, the RCEP will not only benefit Hong Kong’s enterprises to expand their markets in this sizeable market, but also act as a bridge to provide new cooperation potential and to connect it with the Greater Bay Area. The first panel discussion, titled “How can Hong Kong benefit from the RCEP and turn it into a boon for the GBA?”, was chaired by Professor Edward Chen, chairman of HKU SPACE (School of Professional and Continuing Education). Five heavyweight speakers, including Dr. Jonathan Choi, chairman, Guangdong-Hong Kong-Macao Bay Area Entrepreneurs Union; Dr. Victor Fung, group chairman, Fung Group; Professor Witman Hung, principal liaison officer for Hong Kong, Shenzhen Qianhai Authority; Dr. George Lam, chairman, Hong Kong Cyberport; and Mr. David Liao, co-chief executive, The Hongkong and Shanghai Banking Corp Ltd, examined how the RCEP benefits Hong Kong and the GBA in the long run, and how to encourage collaboration in the regions. Dr. Jonathan Choi said that Hong Kong is at the very center of the RCEP, acting as a promoter and a facilitator. “As a businessman, I perceived Hong Kong as a ‘CIO’, connector, investor and operator. We are a super-connector on business and investment. At the same time, we are investors as the intentional financial center. We also operate many factories in the Greater Bay Area for the past 40 years. We operate an airport, seaport, and other public facilities.” Dr. Victor Fung pointed out that the GBA with the RCEP is the creation of perhaps the next generation of global trade. He said it is the new World Trade Organization. It has the real opportunity of expanding globally to encompass a new multilateral system. Hong Kong has traditionally played a critical role in the old WTO. “We stand for the rule of law in international trade. Although we have been small, we have been significant. I would think that Hong Kong will see a similar role in this new development in the innovation of the GBA with the RCEP”, he said. Professor Witman Hung said that Hong Kong is a talent and education hub for the RCEP, with five universities being in the world’s top-ranking universities. This advantage allows Hong Kong to attract talents from the RCEP and as well as the inflow of talents and scholars. The RCEP can also help Hong Kong’s new industrialization. He said he thinks the GBA and Hong Kong form an integrated environment where startups do research in Hong Kong, prototype in Shenzhen, and come back to Hong Kong for cooperate venture investment. Dr. George Lam indicated that we are moving decisively in the direction of becoming an innovation and technology hub for the region. The new economy is doing very well. He can see this digital North-South highway and Hong Kong is right there. “So we can help a lot. For example, Cyberport, Hong Kong’s global digital technology hub, got over 70 startups providing innovative solutions to help fighting the pandemic. It's already called the new export. We are sharing best practices and ideas and solutions with many countries in the region. That's one example of what Hong Kong can help,” he said. Mr. David Liao perceived that RCEP is a region of new language that drives community and coalition. For Hong Kong, the common language will allow growth and activities that allow a basis to drive other important issues like an ESG system. “Hong Kong is a natural taker in terms of benefiting from connectivity. It’s a great gateway for the Chinese mainland to come out to the world, a phenomenal platform and legal infrastructure (provider) for international finance,” he said. “Hong Kong aims to develop itself into a hub for arts and cultural exchanges between China and the rest of the world. A city with a rich history and cultural elements of East-meets-West, Hong Kong gathers artists and cultural organizations from across the globe and attracts tourists to the city as well as to the other GBA cities. Hong Kong’s cultural and heritage tourism will be the key to connecting the 11 cities of the cluster.” Professor Haiyan Song, associate dean and chair professor of tourism, Mr. and Mrs. Chan Chak Fu Professor in International Tourism, School of Hotel and Tourism Management, The Hong Kong Polytechnic University, chaired the second panel discussion, themed “Unlocking Tourism Collaborations through Cultural Sustainability and Heritage Development in the GBA”. The session brought together six prominent speakers from tourism and creative sectors: Dr. Adrian Cheng, CEO, New World Development Co Ltd; Mr. Eric Fok, vice-president, Fok Ying Tung Group; Dr. Wangxi Han, director, Shenzhen Innovative and Creative Design Development Office; Ms. Pansy Ho, group executive chairman and managing director, Shun Tak Holdings Ltd; Dr. Louis Ng, director, Hong Kong Palace Museum; and Dr. Y.K. Pang, chairman, the Hong Kong Tourism Board. They had in-depth discussions about how cultural and heritage tourism can boost the economy, how the creativity and tourism sectors can work together for further growth of the industries, and whether cultural and heritage tourism will be the next key pillar for GBA collaboration. Dr. Adrian Cheng said that Hong Kong as well as the whole GBA are destined to become a flourishing hub for culture and heritage. “While Gen Z and millennials are keen to embrace the latest digital trends, innovation, they're more and more developing a nostalgic appreciation of the past and the ancient treasure of its history. They're increasingly passionate about learning more about the roots, their culture, and their identity. They traveled widely to visit historical sites and were inspired by finding graphic artifacts of the past. At this critical moment, we are fortunate to be embarking on a new era that parallels that renaissance in what we might call a living heritage economy,” he said. Dr. Y.K. Pang said that the COVID-19 pandemic has shaken many aspects of our daily lives, but the foundations of what we have built and achieved through the decades remain sold and unbroken. “Hong Kong remains one of the world’s most vibrant and attractive destinations. The only major difference as we emerge from the pandemic is that we have much more, not less, to offer to global visitors when they return. The emergence of the Greater Bay Area has broadened and brightened our horizons and provided us with the opportunities to showcase to the world the richness not only of Hong Kong, but also of a dynamic new region full of diversity, life, history and heritage,” Pang said. Ms. Pansy Ho indicated that as we emerge from the crisis, it is important to look at new opportunities not as competitors separated by borders, but as counterparts of the Greater Bay Area among its 11 cities, and to work together to formulate tourism strategies that highlight our strengths, our unique advantages and to fully portray Lingnan culture. She said Hong Kong is in an advantageous leadership position to put these opportunities into motion, and she personally looks forward to working together to build an even more vibrant tourism package and landscape for our future. Dr. Louis Ng said the 14th Five-Year Plan sets out a strong vision to develop the Guangdong-Hong Kong-Macao Greater Bay Area into a world-class tourism destination with integrated cultural and tourism industries. “The cities in the Greater Bay Area should integrate resources, markets and brand collisions to enhance cooperation. They should also leverage on the GBA's cultural resources to develop more-diversified and high value-added products to promote cultural and tourism development,” he said. Mr. Eric Fok said, “I believe sports can play a big role in this area and also promote tourism under the theme of culture. In Hong Kong, we are going to be playing a bigger role as the central government also gave us a big task in this. With the increase of cultural confidence through sports and friendship, we are able to integrate ourselves and contribute toward the economic growth of the Greater Bay Area.” Dr. Wangxi Han mentioned that the continuity of cultural memory and cultural lineage is a major issue for the ages. The creative transformation and innovative development of traditional culture is a major issue in theory and practice. The revitalization of the Nantou (historic town) is not only to re-create the glory of “the first county in eastern Guangdong and the source of Hong Kong and Macao”, but also to integrate the culture of the Greater Bay Area and create a “cultural landmark of the Bay Area”, which requires careful consideration in terms of the revitalization of history and culture, the enhancement of urban vitality and the implantation of multiple cultures. The last session, an industries dialogue themed “Hong Kong: The International Business Hub for GBA”, was chaired by Dr. Edward Tse, founder and CEO of Gao Feng Advisory Co. Four business leaders who have invested in businesses in different GBA cities provided valuable tips for those interested in exploring opportunities in the region. They were Dr. Kevin Lau, founding director, Trinity Medical Centre; Dr. Patrick Lau, deputy executive director, Hong Kong Trade Development Council; Mr. Clarence Ling, director, Kwai Hung Group and founder; and Mr. William Shum, founder and CEO, Memorigin Watch Co Ltd. Dr. Kevin Lau Chung-hang said that there are huge opportunities for the medical industry from the RCEP and GBA areas, especially in eldercare and treatment of common chronic diseases, because of the rapid growth and aging population within the regions, which has led to a huge demand for healthcare services. The advantageous policies in four areas from the government could lead the prosperous growth of economic development in the GBA region — infrastructure interoperability, financial interconnection, science and innovation; as well as urban strategy. Mr. William Shum indicated that Hong Kong is an international city. “It’s a good window to face the global market with the merging of Eastern and Western design. By the merging of East and West, we can convince the customers and develop in GBA cities in a very fast and efficient way,” he said. “Everything can be shared in the GBA cities. We can do options, we can do different types of crossovers, and also do charities. In one conclusion, in order to do for the 14th Five-Year Plan, especially for the Greater China politics, we can use the hub and foundation in Hong Kong and also in the GBA cities, and step by step to develop for China’s “dual circulation”. Dr. Patrick Lau said he believes the GBA is a good opportunity for businesses to get into the very big and potential mainland market for the first step. Hong Kong, obviously the international hub, can be the most ideal entry point for the business going into GBA. Many international businesses are very keen on the GBA cities and doing a lot of outreaches both here in Hong Kong, as well as overseas offices during the pandemic time. Everyone is very keen on the GBA opportunities. Mr. Clarence Ling Chun-kit said, “During my various entrepreneurship mentorship experiences, I came to realize that we should help Hong Kong youth to know about our own country. Many young people don’t really know what’s happening in the mainland; it’s our responsibility to help them to understand the bigger picture.” About China Daily Founded in 1981, China Daily covers 360 million readers and users worldwide through diversified platforms, including newspapers, websites, mobile devices, and social media. The number of China Daily’s followers has now reached 61.7 million on Weibo, 13 million on the WeChat blog platform, 104.2 million on Facebook, and 4.3 million on Twitter. About the China Daily Asia Leadership Roundtable The China Daily Asia Leadership Roundtable is a by-invitation network of movers and shakers in Asia, providing platforms for focused dialogue, issue investigation and possible collective action on strategic issues relating to Asia’s economic, business and social development. Our aim is to enhance communication and increase mutual understanding among China, Asian countries and Western countries. Roundtable events are held in major cities across Asia. About the Hong Kong Coalition The Hong Kong Coalition is founded by 1,500 initiators from all sectors of Hong Kong society, with Mr. Tung Chee Hwa and Mr. Leung Chun Ying assuming the roles of chief convener, Mr. Tam Yiu Chung serving as secretary-general, and Ms. Maria Tam Wai Chu and 10 other members holding the posts of deputy secretary-general. The coalition held a press conference on May 5, 2020, declaring its official establishment. The aims of the Hong Kong Coalition are: Uphold “one country, two systems”, support Hong Kong to overcome difficulties; and start afresh for brilliance ahead. Media Contact: Ms. Mindy Yeung Tel: (852) 3465-5432 Email:mindyyeung@chinadailyhk.com

Editor’s note: The following are the opening remarks by Zhou Shuchun, member of the Standing Committee of the CPPCC National Committee and publisher and editor-in-chief of China Daily, at the Greater Bay Area Conference - Embracing New Opportunities: Connecting GBA with RCEP co-hosted by China Daily and Hong Kong Coalition on Nov 30, 2021. Honorable Mr CY Leung, Vice-chairman, the CPPCC National Committee, Honorable Mr Liu Guangyuan, Commissioner, the Ministry of Foreign Affairs of the People’s Republic of China in the Hong Kong SAR Distinguished guests, ladies and gentlemen: Good morning and a very warm welcome. The Greater Bay Area Conference is one of our most high-profile annual public forums where we invite experts to shed light on the major political, economic, social and cultural concerns affecting the region. We try to move with the times and address the most pertinent issues of the moment. Today we will introduce what promises to be a key driver of Asia’s growth story to the conversation. As you all know, the Regional Comprehensive Economic Partnership (RCEP) is a free trade agreement involving the ASEAN nations as well as China, Japan, South Korea, Australia and New Zealand which comes into force on January 1, 2022, and China, one of the first countries to ratify the agreement, is all set to play a significant role in this multi-lateral commercial partnership that will serve the interests of 30 percent of the world’s population and account for a third of the global GDP. The RCEP is a win-win proposition. It is a coming together of economies big and small, developed and developing. While the enhanced inflow of investment helps developing member states to raise the standard of production and income levels, and thus move up the value chain, developed economies can cut down on overheads by setting up manufacturing bases in the ASEAN states while also catering to those markets. The idea ties in with President Xi’s notion of common prosperity — informed by the democratic philosophy that sharing of wealth and resources can only benefit everyone concerned in the long run. President Xi has been a vocal advocate of “building the Asia-Pacific community with a shared future”. At the APEC CEO summit earlier this month, he reiterated his commitment to “promoting innovation-driven development of pilot free trade zones”. The President has further assured that “China will continue to shorten the negative list on foreign investment, promote all-round opening-up of its agricultural and manufacturing sectors, expand the opening of the service sector, and treat domestic and foreign businesses as equals in accordance with law.” Such fraternal vibes make us optimistic about the future of China’s relationships with her trading partners in the Asia Pacific. I hope after we have listened to our eminent speakers and panelists at today’s conference, all of us will have a more nuanced idea about how the cities in China’s Greater Bay Area can tap into the supply chain and demand in a wide diversity of markets through the RCEP framework, and lead the way in creating, to quote President Xi, once again, a “unified, open, competitive and orderly market system”. Thank you for attending today’s conference. I hope you enjoy the sessions.