Revamping Hong Kong’s Headquarters Economy Strategy - Shanghai: “local integration” of key industry chains

With the localization rate of parts and components exceeding 95%, the Gigafactory has given an impetus to the upgrading and transformation of supply-chain partners, generating a large number of high-income and high-tech jobs while speeding up technology transfer and innovation. [...] At the end of 2020, the Singaporean government announced the launch of the Research, Innovation, and Enterprise Plan 2025 for the following five years. [...] Leveraging the advantages of Hong Kong’s financial services sector to provide targeted and diverse financing options and fiscal subsidies: The authorities should make differentiated adjustments in accordance with the urgent needs of different industries and their positions on the value chains to maximize policy outcomes and cut corporate production costs. [...] Building the Northern Metropolis to strengthen the foundation of Hong Kong’s high-end manufacturing industry: In terms of infrastructure, aligning with the high- end manufacturing industry in the Greater Bay Area (GBA) cities and optimizing the industry park in the northern part – including transportation networks and digital infrastructures – will serve to attract companies on the upstream and do. [...] Hong Kong, on its side of the bargain, can leverage its advantages in talent, capital, and systems to lure Mainland and overseas multinational companies to set up their headquarters here, thus diversifying R&D and manufacturing functions and strengthening the agglomeration of industries in Hong Kong and other GBA cities.