China Plans To Turn Hong Kong And Macau Into A Silicon Valley Rival

China unveiled a sweeping plan to link Hong Kong and Macau with cities in southern China to create a so-called Greater Bay Area, aiming to transform the coastal region into a high-tech megalopolis to rival California’s Silicon Valley. The outline plan, published in Chinese by Xinhua News Agency late Monday, said the government will seek to turn the area into a leading global innovation hub, boost infrastructure connectivity between cities and strengthen Hong Kong’s role as an international center of finance, shipping and trade as well as the center for the offshore yuan business. Hong Kong, Macau, Shenzhen and Guangzhou will be the four key Bay Area cities, driving the region’s economic development, according to the blueprint.

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