Chang Zhipeng, Tan Yifan

cicitan2011@gmail.com

THE further convergence of standards, rules and mechanisms between Shenzhen’s Qianhai, Hong Kong and Macao is expected to optimize the overall business environment of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), said a leading expert specializing in GBA and regional studies at an interview yesterday.

Commenting on the “Qianhai Plan” unveiled by the central authorities Monday, Zhang Yuge, director of the Hong Kong, Macao and Regional Development Department of China Development Institute, said that the recognition and adoption of standards, rules and mechanisms practiced in Hong Kong and Macao is key for Qianhai to deepen its reform and opening up.

“The plan requires Qianhai to build a mature mechanism for fair competition. To achieve this goal, it must first make Hong Kong rules compatible in the area,” said Zhang. “Qianhai has allowed some professionals to exercise their expertise in certain areas, such as construction and legal services. The scope of Hong Kong practices should be expanded now. People in all walks of life in Hong Kong should be involved.”

Zhang said as China completed the approval procedures of the Regional Comprehensive Economic Partnership in March and now is preparing for join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, the country is determined to create a world-class environment for global investors.

The role of Qianhai is to continuously provide replicable experiences and form a world-recognized system of rules for the rest of the country, according to Yu Zongliang, director of the Free Trade Innovation Center of China Development Institute.

“The plan has made Qianhai the top strategic platform in the country, giving it more spaces to explore the integration between the modern service industry and high-end manufacture industry, and sett up a system of rules that is welcomed by international community,” Yu said.

“It should not only rely on Hong Kong’s advantages, but also become a cluster for Hong Kong technology institutes and talents, encouraging institutional innovation and updating technology development rules,” Yu added.

(Continued on P3)