Savantas Policy Institute hosted a Seminar on Youth Entrepreneurship in the Greater Bay Area on 31st August 2018, with almost a hundred guests attending. The keynote speaker for this seminar was Professor Zhang Guangnan from Sun Yat-sen University. Savantas presented Professor Zhang with a Certificate of Appreciation for taking his time to visit Hong Kong for the occasion. Professor Zhang also presented Mrs Regina Ip, Chairperson of the Board of Governors of Savantas, with a set of three books of his latest research on the Greater Bay Area.

Mr Alex Wong, Policy Director of Savantas, delivered the opening remarks for the seminar, thanking Professor Zhang for travelling from Guangzhou to share his research on the Greater Bay Area and illuminating the audience on the latest developments of the Greater Bay Area.

Professor Zhang began by presenting the division of labour among cities in the Greater Bay Area, and compared the Area’s performance with other bay areas around the world. By highlighting the strengths of other bay areas, Professor Zhang stressed the importance of the Greater Bay Area to find its own footing. Professor Zhang then proceeded to explain the status of different industries within the Greater Bay Area, and the challenge arising from the peculiar combination of “One Country, Two Systems” and three independent customs territories. Professor Zhang further pointed to the policy challenges and institutional enthrallments of developing the Greater Bay Area and how to strike a balance between competing interests and traditions.

Professor Zhang went on to share cases of Hong Kong and Macao youth entrepreneurship in the Greater Bay Area. There were stories of entrepreneurs who put their Mainland connections and social capital to good use; stories of repeated setbacks and eventual success; and stories of capitalizing on macro-policy adjustments in the Mainland (namely the two-children policy). Professor Zhang noted the difference between modern-day entrepreneurship and that of previous generations. He concluded that both the Central Government and local governments had invested a vast amount of resources to encourage entrepreneurship; the public is often oblivious to these measures and misses many opportunities.

The seminar proceeded onto dialogue upon Professor Zhang’s conclusion of his presentation, with Mr Alex Wong, Policy Director of Savantas, interviewing him on stage. Alluding to the recent trade war between the USA and China, Mr Wong pointed at the problem of market access into the Mainland. Professor Zhang explained the policy of Negative List management and pointed out that both Hong Kong and Macao, as first testers, are first to benefit from any modification to the List, while also enjoying the full benefits of MFN status. An audience member asked how youth entrepreneurs may find capital for their business to access the Mainland market. Professor Zhang pointed to the many supportive policies and benefits from the Mainland government for entrepreneurs; entrepreneurs may also seek business opportunities that demand a lower capital barrier of entry. Some members of the audience were eager to share their views and suggestions on the development of the Greater Bay Area. The seminar concluded with robust and interactive dialogue and discussion.

Savantas previously conducted a study in collaboration with Sun Yat-Sen University on the development of the Guangdong-HK-Macao Greater Bay Area, the result of which have been compiled into a proposal and presented to the HKSAR Government. To capitalize on our findings, Savantas will continue to host a series of talks and seminars to follow up on the various suggestions included in our proposal.

CPA Australia and Cyberport were supporting organizations. CPA Australia sponsored the venue as well.