This article is by: The Straits Times
Read more about it here: Greater Bay Area can be 'Silicon Valley and Wall Street'
An excerpt from The Straits Times:
China's ambitious Greater Bay Area innovation cluster will be a key driver of the country's economic growth and will attract talent from not just the region but also around the world, say the three top officials of Guangdong, Hong Kong and Macau. Incentives such as tax breaks, subsidies and talent immigration schemes have been announced in a bid to create a high-tech city cluster that will rival the innovative bay areas of San Francisco, New York and Tokyo.
Designed to push China's economy forward by taking it on the path of innovation and high-tech development, the Greater Bay Area is President Xi Jinping's brainchild and consequently enjoys unprecedented support from the central government. China's Industry and Information Technology Minister Miao Wei said the government will take a hands-off approach and let the market lead. "We will place companies as the main actors. We will reduce micro interventions by the government so that the market can decide on resource allocation."
Your On-the-Ground People in China.
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