Business / Economy

Hong Kong eyes new business hub thanks to regional bridge

(Xinhua) Updated: 2014-04-04 17:15

HONG KONG -- Hong Kong Chief Executive C Y Leung Friday said Lantau, the city's largest island, could be turned into a new core business hub upon the commissioning of Hong Kong-Zhuhai-Macao Bridge (HZMB) in 2016.

Accompanied by Secretary for Transport and Housing Anthony Cheung Bing-leung and Secretary for Development Paul Chan, Leung took a boat trip Friday morning to inspect the work progress of the Hong Kong Boundary Crossing Facilities (HKBCF) artificial island of the HZMB and was briefed on the development of Lantau.

The HKBCF, Hong Kong Link Road and Tuen Mun-Chek Lap Kok Link projects have entered the on-site construction stage.

Leung pointed out that, upon the commissioning of the HZMB in 2016, Lantau will become the converging point of Guangdong, Hong Kong and Macao, which would enhance the functions and development potential of Lantau.

Leung said that the government would continue to capitalize on the benefits brought about by major infrastructure projects on Lantau. It will fully co-operate with the Lantau Development Advisory Committee to work out the economic and social development strategy for the area while striking a balance between development and conservation to fulfill the long-term development needs and enhance the competitiveness of Hong Kong.

He also said the co-operation and connectivity in various areas between Hong Kong and the western Pearl River Delta (PRD) will be strengthened, which would in turn provide ample opportunities for Hong Kong business sectors to expand their operation in the Mainland. For this reason, the 2014 Policy Address has emphasized the development of Lantau.

Leung noted that with the proximity of the island to the Hong Kong International Airport (HKIA), the HKBCF artificial island will serve as a gateway for Hong Kong and the western PRD and will take on great value as a "bridgehead economy".

He noted that developing commercial facilities on the artificial island could generate synergy with the HKIA, Tung Chung and the surrounding areas, which would promote economic development and create job opportunities.