Lee to facilitate 'comprehensive' plan for Bay Area emergencies

Chief Executive John Lee Ka-chiu has pledged to help facilitate a "comprehensive, pragmatic and systematic" contingency plan for the Greater Bay Area to respond to emergencies like super typhoon Saola.

Speaking at a forum yesterday, Lee said that because of communication and readiness among GBA cities, Saola failed to cause very serious damage as it swept across the Guangdong coastline and drew the highest hurricane signal No 10 for Hong Kong.

A more comprehensive, pragmatic and systematic response mechanism will be established under the plan to enhance the GBA's joint ability to handle emergency situations, Lee said.

Referring to an announcement made by Beijing last week on 30 measures in three aspects in respect to the Hong Kong-Shenzhen Innovation and Technology Park in the Lok Ma Chau Loop, Lee said the latest plan unveiled by the central government bodes well for the loop's development and enhances cooperation in innovation and technology.

Lee said Hong Kong will leverage on the advantages of one country, two systems as it works closely with Shenzhen to facilitate the development of a tech and innovation center and a hub for global talent in the GBA.

Last week, Shenzhen issued off-shore RMB-settled local government bonds in Hong Kong for the third consecutive year, with social responsibility-linked bills being issued for the first time.

Lee believes the bond issues will help the city develop into an international hub for sustainable financing and allow it to act as a financial bridge between foreign investors and the GBA and the country.

Lee concluded his speech with an anniversary wish for Sing Tao and said he hopes the organization will keep bringing to the world good stories about Hong Kong and the mainland.

Meanwhile, Secretary for Financial Services and the Treasury Christopher Hui Ching-yu said Hong Kong needs to keep improving the advantages in its system, international standing and individual talent as he replied to question on what the city may do to maintain its lead.

Hong Kong Monetary Authority executive director Kenneth Hui Wai-chi said the HKMA has been holding discussion with Chinese authorities to facilitate Hongkongers buying property in the mainland and other cross-border payment issues that could be generate opportunities for local financial institutions.

themis.qi@singtaonewscorp.com