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Alternative Market Briefing

Venture investors eye China's Greater Bay

Thursday, May 30, 2019

Bailey McCann, Opalesque New York:

Could the Greater Bay area around Hong Kong become a new innovation district for China? Professor Graham Leach, Operating Partner at the Hong Kong Emerging Technologies Venture Fund, says it's possible thanks to the completion of the Hong Kong-Zhuhai-Macau Bridge.

"There are 130 million people in the Greater Bay area and billions of dollars moving around in there," Leach said during the Opalesque Hong Kong Roundtable. "The Greater Bay was very difficult to do business in before, without a bridge closing that final gap over the water. Now, things can really move, so the bridge is not only an architectural feat, it has also unleashed a lot of positive impacts and economic momentum."

Leach expects that as the Greater Bay becomes accustomed to new transit options in the area companies will spring up, building on the innovation ecosystem that is already in Hong Kong. The Chinese government is trying to support those efforts as well. In February, China released its plan for the Greater Bay region which points toward more integration of the Hong Kong area with mainland China. The policy outline also included several provisions designed to support technology start-ups and venture capital investment.

On the heels of this new guidance, the Hong Kong Trade Development Council announced that it is working with entrepreneurs to do business and seek funding support within the Hong Kong/Greater bay area. Wing Chu, Business Advisory Man......................

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