Hong Kong and Shenzhen to Launch Cross-Border Data Flow Pilot
Quick Look
- Hong Kong and Shenzhen are discussing implementation details for a pilot project to ease the cross-border flow of data, materials, and capital within the Hetao Innovation Zone.
- The initiative aims to foster collaboration and support Hong Kong's ambition to become a global innovation hub.
AI-generated summary
Why It Matters
Hong Kong and Shenzhen are set to launch pilot initiatives within the Hetao Innovation Zone to ease cross-border data, material, and capital flow. This aims to foster collaboration and support Hong Kong's goal of becoming a global innovation hub.
More areas within the Northern Metropolis could benefit from new measures to the ease the cross-border flow of data, materials and capital, with pilot initiatives set to launch this year in the innovation zone Hong Kong shares with Shenzhen.
According to the paper, the government and mainland counterparts are discussing implementation details for the cross-border flow of data, materials and capital at the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone.
“We are actively pushing to implement a pilot project this year,” the bureau said in the paper. “Based on the actual situation, we will consider expanding the measures to areas outside the Hong Kong Park.”
The zone, proposed by Beijing in 2017, comprises an 87-hectare park in Hong Kong and a 302-hectare one in Shenzhen.
Industry players have called for easing restrictions on the cross-border flow of elements such as biosamples to foster collaboration and support the city’s move to become a global innovation and technology hub.
Open Questions
- What specific data types will be prioritized?
- What are the exact implementation details for capital flow?
- When will expansion outside Hong Kong Park be considered?
