Hong Kong officials hosted a delegation of nearly 70 participants [1] from Southeast Asia to promote the Northern Metropolis as a regional business hub.
The initiative seeks to position Hong Kong as a primary bridge for ASEAN firms to access markets within the Greater Bay Area. By attracting investment into logistics and high-value-goods clusters, the government aims to diversify the economy and strengthen ties with Southeast Asian business leaders.
The government-led tour took place on March 27, 2024 [3]. The delegation included diplomats, chamber representatives, and business leaders who visited the development area in the New Territories. Chief Executive Lawrence Wong said, "Hainan and Hong Kong offer new ways for Singapore to connect with China" [3].
To attract international firms, the government is offering a suite of incentives. Finance Chief Paul Chan said, "We are ready to discuss land, tax incentives and financial support for businesses setting up in the Northern Metropolis" [1]. These measures target the low-altitude economy and smart-green growth sectors to ensure the project remains competitive.
Regional cooperation is a central pillar of the strategy. A Guangdong Provincial Spokesperson said, "Guangdong will actively align with Hong Kong's strategy for the Northern Metropolis megaproject" [3]. This alignment is reflected in regional planning documents, with the term "Guangdong-Hong Kong-Macau Greater Bay Area" appearing 57 times [2] in Guangdong’s 15th Five-Year Plan.
The Northern Metropolis is designed to function as a logistics hub that integrates Hong Kong more deeply with the mainland. By offering flexibility in land use and financial backing, officials hope to secure long-term commitments from ASEAN-based companies looking for a strategic foothold in China.
“"We are ready to discuss land, tax incentives and financial support for businesses setting up in the Northern Metropolis."”
The promotion of the Northern Metropolis signals Hong Kong's strategic shift toward deeper integration with the Greater Bay Area while simultaneously attempting to maintain its status as an international hub. By specifically targeting ASEAN nations with financial incentives, Hong Kong is attempting to hedge its economic dependencies and leverage its unique position as a gateway to mainland China for Southeast Asian capital.
