Policy Address 2020: Details of HK$60 billion Hong Kong-Shenzhen joint innovation zone unveiled

Hong Kong’s Chief Executive Carrie Lam proposed a series of policies on Wednesday to promote closer cooperation between Hong Kong and the neighbouring Greater Bay Area, and unveiled more details on the development of the Shenzhen-Hong Kong Innovation and Technology Cooperation Zone (SITZ).

During her 2020 policy address speech, Lam said Hong Kong and Shenzhen are on the way to creating a “one zone, two parks” development near the cities’ borders. The SITZ will consist of two areas: the Hong Kong-Shenzhen Innovation and Technology Park in the Lok Ma Chau Loop, on the Hong Kong side, and on the other side of the border the Shenzhen Futian Innovation and Technology Zone.

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The park’s development plan was first announced in 2017, with further implementation details unveiled in the policy address. It is also one of the 24 areas Lam consulted the Central People’s Government and the Shenzhen municipal government about during her visit this month.

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Written by Chiang Kai-shek


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