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Guangdong Province and Hong Kong have long had close economic ties. But the format is simple: Guangdong receives orders from Hong Kong and undertakes simple processing according to these orders. This time, however, there are some changes. As governor Lu Rui Hua points out:
"Guangdong will build a solid foundation for economic diversification in the Pearl River Delta region by developing its rapid transportation system. This will upgrade the competitiveness of many cities and in various sectors. Industrial integration will also be carried out, led by the high-tech and service industries. This strategy is expected to further develop Guangdong into one of the world's major manufacturing centers."
This means Guangdong will no longer be a simple processor for Hong Kong. Instead, it will upgrade the level and expand the scope of cooperation with Hong Kong. Through this cooperation, Guangdong seeks to develop products with its own intellectual property rights.
In addition to developing into a much larger manufacturing base, Guangdong also aims to be a regional financial center by learning from Hong Kong.
Due to their proximity and cultural similarity, economic activity between the two places has always flourished. Take last year, for example: exports from Guangdong were worth nearly 300 billion RMB, of which 80% went via Hong Kong.
Regarding how to raise the level of cooperation between the two sides, governor Lu Ruihua says:
"Guangdong will upgrade the competitiveness of its manufacturing and human resources by learning from Hong Kong, Macao and Taiwan, especially in the fileds of finance, logistics and tourism. Enhanced cooperation in all sectors will promote mutual development and prosperity."
This cooperation will benefit Hong Kong as well. It will encourage more enterprises and professionals in Hong Kong to come to Guangdong and take advantage of its abundant land and cheap labor. Capital and personnel from the mainland will also flow to Hong Kong.
(CRI January 16, 2003)
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