The success of Beijing’s ambitious Greater Bay Area (GBA) development initiative depends on Hong Kong being able to fulfil its designated role. Doubts have been raised as a result of the crisis created by three months of anti-government unrest. The city’s business environment and overseas image have been eroded and there are fears that if the violence continues, its advantages will be irrevocably damaged. Stability is essential to ensure integration and cooperation with the area’s 10 other cities so the plan can reach its potential.

Secretary for Constitutional and Mainland Affairs Patrick Nip Tak-kuen, in his keynote address at the South China Morning Post’s latest China Conference, laid out Hong Kong’s strengths and how they dovetail with the plans outlined in February. They are the result of history and the “one country, two systems” model under which the city is governed. Among them are being an international financial, transport and trade centre and aviation hub, location for global offshore yuan business, and expertise in asset and risk management, and legal and dispute resolution services. Coupled with the rule of law, an independent judiciary and open access to information, Hong Kong is distinct from other cities.

That edge has to be retained so that Hong Kong can contribute fruitfully to the GBA and share the benefits. As Nip pointed out, through the city leveraging its strengths, it can help bring in foreign investment and know-how to the region and work with mainland enterprises to develop markets and explore opportunities overseas. The benefits are manyfold: just as for the people of Shenzhen, Guangzhou, Macau and the other cities, through embracing the initiative, Hongkongers will have opportunities.

Shenzhen, the GBA’s hi-tech hub, foreshadowed that this week with a US$21 million fund to attract talent from Hong Kong and Macau to its Qianhai special economic zone through rent and transport subsidies and support of innovation projects. There are concerns that Hong Kong’s northern neighbour, recently given special status by Beijing to trial reforms, could become a fierce competitor. But the GBA’s success lies in cooperation and that can be readily achieved through improving understanding and taking advantage of the differences. The cities have, variously, one country, two systems and three currencies and separate customs territories.

The region is already an enormous market with huge potential, having 71 million people and an annual gross domestic product of US$1.6 trillion. Beijing wants it to become a financial and technological behemoth to rival Silicon Valley by 2035. Innovation is the key and Hong Kong people, with innovative and creative minds, have to set aside their differences and seize the opportunities.