Beijing unveils detailed reform plan to make Shenzhen model city for China and the world (SCMP, 3 min read)

(You can read the article by clicking here)

China has some grand plans for the Shenzhen area, and they shine a light on their long-term strategy towards Hong Kong. The plan is to transform the area into a socialist example of global leadership and innovation. It’s part of Beijing’s plans to turn Greater Bay Areainto a mega-hub for growth - it currently accounts for 12% of the country’s GDP into a mega-hub for growth. The plans were released amid the rising tensions with Hong Kong this summer; meanwhile, Shenzhen’s economy surpassed Hong Kong’s for the first time in 2018, reaching HK$2.87 trillion compared to Hong Kong’s HK$2.85 trillion in the same year.

Why does this matter? In February, Beijing stated that it plans to integrate eleven regions within the Greater Bay Area, turning them into a large powerhouse. But after this summer’s unrest they might decide to reduce Hong Kong’s significance in the scheme.

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(The commentary contained in the above article does not constitute an offer or a solicitation, or a recommendation to implement or liquidate an investment or to carry out any other transaction. It should not be used as a basis for any investment decision or other decision. Any investment decision should be based on appropriate professional advice specific to your needs.)

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