Your Present Location :Home > LATEST INSIGHTS

Liu Zhiqin: Hong Kong-Zhuhai-Macao Bridge—— A bridge towards common prosperity


By Liu Zhiqin    Source: CGTN    Published: 2019-10-24

The Hong Kong-Zhuhai-Macao Bridge is a very spectacular mega project. I can't help but marvel at the ingenuity and incredible fortitude of Chinese tech experts and the engineering construction teams who have created the world miracle.

The completion of the Bridge is of great significance to the construction and economic development of the Greater Bay Area, as demonstrated in the following three aspects.

The bridge has greatly enhanced the connectivity between Hong Kong, Zhuhai and Macao, underpinning the development of the Greater Bay Area. This is not just about shortening the travel time, but about the "convenience" and "fast access" made possible by the bridge.

Since the opening of the Bridge a year ago, more than 13 million travelers from the Hong Kong and Macao Special Administrative Regions and the Chinese mainland have made visits to and from at least one of the three places, thus boosting local tourism and the catering industry.

It fully demonstrates that the Bridge has provided "convenient, smooth, safe and efficient" services for local economic development.

Besides, the launch of the Bridge enables more efficient allocation and utilization of Hong Kong's tech talents and resources, increasing the possibilities of greater developmental synergy among Hong Kong, Macao and the Chinese mainland.

As a result, talents from Hong Kong and Macao can play a more constructive role and realize their personal potential; and the talents, capital, goods and management experience of the three places can be fully exchanged to effectively promote the development of economic sectors and companies in the Chinese mainland.

Moreover, the Bridge can promote and lead the balanced development of the Greater Bay Area, which is conducive to building the "community with shared future in the Greater Bay Area". This is the historical mission of the Bridge and is essential to the future well-being of the people in the Greater Bay Area.

In the future, increasing number of domestic companies will venture abroad, thereby improving their management practices and market value and providing necessary contribution to and support for the improvement of people's standard of living in the three places.

The completion of Bridge will enable the organic integration of Hong Kong's financial services, the manufacturing industry in the Pearl River Delta and the cultural tourism in Macao to create a unique "supply chain" that provides opportunities for local employment.

The fact that it takes just one hour to travel between any two of the three places contributes to save trillions of yuan by cutting the time wasted on road each year, therefore creating multiple times more business returns. This economic growth scenario is not only a win for three cities, but for all stakeholders.

The close ties among Hong Kong, Zhuhai and Macao can drive the interactive development of the Pearl River Delta and Qianhai Development Zone in Shenzhen. It will bear the traits of a free trade zone and offer infinite developmental possibilities for the Greater Bay Area.

The Hong Kong-Zhuhai-Macao Bridge has adopted a wide variety of the latest technology. It has become a pride of China and a perfect example that not only reflects the speed of China's development, but the quality of China's growth.

The author is a senior fellow of the Chongyang Institute for Financial Studies at Renmin University of China.

Key Words: Hong Kong-Zhuhai-Macao Bridge   China   RDCY   Liu Zhiqin  

Latest Insights