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China's Greater Bay Area attracts int'l enterprises, forging new tech hub

China

China

China

China's Greater Bay Area attracts int'l enterprises, forging new tech hub

2026-01-11 17:01 Last Updated At:01-12 23:19

A growing number of international enterprises have launched operations at the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone, positioning it as a global technology hub just one month after its official launch.

The park was set up on December 22, 2025 and established under the vision of "one river, two banks" and "one zone, two parks". It consists of the 87-hectare Hong Kong Park and the 300-hectare Shenzhen Park. The Hetao Hong Kong Park is located in the Northern Metropolis, an area adjacent to the border with south China's tech hub Shenzhen.

Founded in Canada and listed on the Nasdaq Capital Market, Pinnacle Food Group is expanding to Hong Kong, specifically to the Hong Kong Park within the Hetao Cooperation Zone.

Among the 60 enterprises already registered here, the company's Asia-Pacific President Andrew Zhu sees a unique opportunity.

"The country prioritizes biosecurity, food security, and the Healthy China Initiative, with biotechnology being key to these goals. We established our biotech lab in Hong Kong to bridge global cutting-edge resources with national development needs," Zhu said.

With one park in Hong Kong and another in Shenzhen, the Hetao Cooperation Zone serves as a pivotal hub for international sci-tech innovation and a growth engine of the Greater Bay Area.

As Zhu points out, this dual role, connecting globally while serving the nation, is what makes Hong Kong uniquely irreplaceable.

"On one hand, Hong Kong offers a highly international research environment and standards, enabling collaboration in global cutting-edge technologies. On the other hand, its close ties with the Chinese mainland allow for the rapid translation and scaling of research outcomes," Zhu said.

While an innovation hub is fundamentally defined by its laboratories and offices, this park adopts a holistic approach to talent retention by intentionally integrating essential aspects of daily life. To this end, it offers ready-to-move-in residential units tailored for researchers and entrepreneurs. More than mere accommodation, these spaces form a vital public environment equipped with all daily necessities, fostering a genuine community where ideas can develop and flourish in a supportive setting.

"On the basis of 'One Country, Two Systems,' and 'one zone, two parks', Hong Kong and Shenzhen have been striving for trial implementation of cross-boundary policy measures to facilitate the convenient flow of important innovation elements—including personnel, materials, data, and capital—between the two parks," said Sun Dong, Secretary for Innovation, Technology and Industry of Hong Kong Special Administrative Region.

China's Greater Bay Area attracts int'l enterprises, forging new tech hub

China's Greater Bay Area attracts int'l enterprises, forging new tech hub

Chinese automaker SAIC Motor and General Motors (GM) on Wednesday announced a 20-year extension of their joint venture partnership to 2047.

Both sides agreed that the renewal of the partnership is based on the foundation of nearly 30 years of successful collaboration, and both companies have cast a vote of confidence in the long-term value of the Chinese automotive market against the background of profound changes in the global automobile industry.

The shareholders of both companies will further coordinate technology research and development (R&D), supply chain and global market resources, while providing continuous support for intelligent and electric transformation, local innovation, global layout and long-term development of SAIC General Motors Corporation Limited.

The joint venture company will launch at least 30 new energy vehicle models by 2030, accelerating its entry into the ranks of mainstream new energy brands in China.

GM is among a growing number of foreign enterprises reaffirming their confidence in the Chinese market.

Data from the Ministry of Commerce reveals that nearly 4,800 foreign-funded firms increased their investments in China during the first half of 2026, while the number of newly established foreign-invested enterprises climbed 5.3 percent year on year.

China's SAIC Motor signs joint venture renewal agreement with GM

China's SAIC Motor signs joint venture renewal agreement with GM

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