2025年，香港"兴"动能勃发，"兴"气象愈发明显，由治及兴迈出新步伐。 新华社香港12月30日电 题：明珠更是璀璨时 ——2025 年香港由治及兴迈出新步伐 苏万明、张雅诗、谢妞 12月22日，阳光和煦，河套深港科技创新合作区迎来里程碑时刻——香港园区正式开园。这里将成为香港创科发展的桥头堡和试验田，更将成 为粤港澳大湾区乃至全球创新示范地。 2025年的香港亮点纷呈，分外抢眼：首次公开招股集资额全球第一、继续获评全球最自由经济体、金融中心再登全球三甲、本地生产总值同比 连升11季…… 来源：新华社 这是5月12日拍摄的香港城市风光。新华社记者 陈铎 摄 10月5日，游客在香港尖沙咀星光大道游览。新华社记者 陈铎 摄 动能勃发气象万千 27岁的英国青年梅赫·塔赫尔在英国出生长大，曾在温哥华和墨尔本学习生活。2024年底，他选择来香港从事癌症治疗研究，目前在岭南大学 担任资深研究工程师。 "香港学术环境和城市的开放性，以及科研资助和商业化机制多元活跃，让我感受到了整体的吸引力。"他说。 2025年，香港经济表现持续向好：本地生产总值已连续11个季度录得按年增长。其中，第三季度增幅更是扩大至3.8%，成为超过一 ...

Core Viewpoint - The groundbreaking ceremony for the Yuen Long South residential project, a collaboration between China Resources Land and New World Development, marks a significant step in the development of the Northern Metropolis in Hong Kong [1][4]. Group 1: Project Development - The Yuen Long South residential project is located in the "high-end professional services and logistics hub" area of the Northern Metropolis plan, adjacent to a well-developed central area, indicating substantial development potential [3]. - The total floor area of the project is approximately 720,000 square feet, with phased development planned. The first plot has completed land premium procedures, allowing for nearly 280,000 square feet of buildable area, expected to be sold in the fiscal year 2027, providing around 700 residential units [3]. - The two plots combined will offer approximately 1,800 residential units to meet market demand for quality housing [3]. Group 2: Strategic Collaboration - Since 2022, China Resources Land has actively researched participation in the Northern Metropolis construction, organizing the "Runxin Construction·Building the Future" youth professional design competition to gather innovative ideas for the Northern Metropolis planning [3]. - In December 2023, a cooperation agreement was signed with New World Development to jointly develop the Yuen Long South project, demonstrating a commitment to collaborative efforts in the region [3]. - Future initiatives include hosting the "Spring Bamboo Lecture" in June 2024 to deepen research on industrial development in the Northern Metropolis and signing a general letter of intent for corporate participation in November 2024 [3].

Core Insights - Hong Kong is shifting its focus from security to economic development, with a goal to enhance its international financial center status and stimulate economic growth [6][7][8] - The economy is heavily reliant on trade and financial services, each contributing around 20% to GDP, but these sectors alone may not suffice for future growth [8][9][11] - The need for technological innovation is emphasized as a new opportunity for Hong Kong, which has historically lagged in this area compared to other regions [13][17][18] Economic Performance - Hong Kong's economic growth rate is projected to decline from 3.2% in 2023 to 2.5% in 2024, with forecasts for 2025 ranging between 2% and 3% [7][8] - The city has lost its position as the world's largest container port, now ranking 11th, while neighboring ports like Shenzhen and Guangzhou have surpassed it [11][12] Technological Innovation - Hong Kong's R&D investment is low, at only 1.11% of GDP in 2023, compared to 2.2% in the EU and 3.59% in the US [18] - The lack of a robust mechanism for technology transfer and commercialization has hindered the growth of the tech sector [14][18] Infrastructure Development - The "Northern Metropolis" project aims to develop a new urban area that will focus on innovation and technology, with significant investment planned [21][22] - The government plans to issue bonds worth 150 billion to 195 billion HKD annually over the next five years to fund this initiative [22] Regional Integration - The "粤车南下" policy facilitates greater connectivity between Guangdong and Hong Kong, indicating a trend towards deeper integration with mainland China [24] - The collaboration between Hong Kong and Shenzhen is evolving from a one-way technology transfer to a more integrated partnership, leveraging each region's strengths [29][31]

Core Viewpoint - The Hong Kong government's approach to developing the Northern Metropolis aligns closely with mainland practices and offers mutual learning opportunities [1] Group 1: Insights from the Visit - The delegation led by the Financial Secretary of Hong Kong, Paul Chan, visited key development areas in Beijing and Hebei, focusing on the development experiences of major new districts [1] - The visit highlighted three key insights for Hong Kong: 1. The strong planning vision and execution capabilities demonstrated by the Beijing sub-center and Hebei Xiong'an New Area [1] 2. The experience in area development, industrial layout, and investment attraction from these regions serves as important references for Hong Kong [1] 3. The approach to building more community-oriented environments [1]

Core Points - The Hong Kong Railway Company (MTR) launched the Northern Link project, which is a significant transportation backbone for the Northern Metropolis [2] - The main line will connect the East Rail Line and the Tuen Ma Line, while the branch line will directly link to the Shenzhen Huanggang Port, establishing a third direct railway connection between Hong Kong and the mainland [2] - The project aims to enhance accessibility in the Northern Metropolis and strengthen cross-border connections with the mainland [3] Summary by Sections - **Project Overview** - The Northern Link is the largest railway project currently being promoted by MTR [2] - The project includes a main line and a branch line, with the main line serving as a public transport backbone for new development areas in the Northern Metropolis [2] - **Government and Company Statements** - The Secretary for Transport and Logistics of the Hong Kong SAR Government emphasized the project's role as a vital transport artery for regional development [2] - MTR's Chairman highlighted the importance of the Northern Link in enhancing accessibility and deepening cross-border ties with the mainland [3] - **Construction and Timeline** - MTR aims to complete the main line and branch line by 2034 [3] - The construction of the East Rail Line's Kwu Tung Station is progressing well, with structural completion expected in November 2023 and operations targeted for 2027 [3]

Investment Rating - The report maintains a "Positive" investment rating for the industry [9]. Core Insights - The Hong Kong government's recent policy report emphasizes the development of the Northern Metropolis, which is strategically significant due to its proximity to Shenzhen and potential to create numerous jobs and enhance productivity [2][6]. - The establishment of the Northern Metropolis Development Committee and its sub-groups aims to clarify the organizational structure for the area's development [10]. - The report highlights the introduction of social capital in the development process, utilizing mechanisms such as 1.5-level development and BOT (Build-Operate-Transfer) models to enhance project execution [10]. - Infrastructure projects in the Northern Metropolis are progressing rapidly, with significant transportation developments planned to support the area's growth [10]. - China State Construction International is expected to benefit significantly from the Northern Metropolis projects, with a projected market share increase in Hong Kong's infrastructure sector [10]. - The company maintains a double-digit profit guidance for 2025, with a projected dividend yield of approximately 6.6% based on a 33% payout ratio [10].

Core Viewpoint - The Hong Kong government is accelerating the development of the Northern Metropolis, which is seen as a strategic area for economic growth and innovation, with the establishment of the "Northern Metropolis Development Committee" to streamline processes and attract investment [1][2]. Group 1: Government Initiatives - The Hong Kong government has announced the formation of the "Northern Metropolis Development Committee" to expedite the development of the Northern Metropolis, which is expected to occupy one-third of Hong Kong's area and future population [1]. - The government aims to simplify administrative processes and introduce fast-track approval systems to encourage investment and development in the Northern Metropolis [2]. - The Northern Metropolis is positioned as a key driver for Hong Kong's future development, particularly in the context of collaboration with the Greater Bay Area [1][2]. Group 2: Economic and Development Potential - The Northern Metropolis is anticipated to create numerous job opportunities and enhance productivity, serving as a vital economic engine for Hong Kong [1][2]. - The area is expected to integrate various industries and foster innovation, with a focus on technology and research collaboration between universities and enterprises [3]. - The development of the Northern Metropolis is seen as a significant step towards transforming Hong Kong's traditional development model and addressing current challenges [2][4]. Group 3: Stakeholder Perspectives - Experts emphasize the importance of the Northern Metropolis as a strategic interface for Hong Kong's integration into national development, highlighting the need for collaborative efforts across various sectors [2][4]. - The establishment of specialized working groups under the Northern Metropolis Development Committee aims to enhance operational efficiency and focus on specific areas such as financing and higher education [2]. - Stakeholders from the real estate sector express optimism about the government's initiatives to lower construction costs and encourage market participation in the Northern Metropolis development [3].

Group 1: Economic Development Strategies - The Chief Executive of Hong Kong, John Lee, emphasized the government's strategies for developing the Northern Metropolis and industrial innovation in the 2025 Policy Address [1][2] - The Northern Metropolis is identified as a new engine for Hong Kong's economic development, with significant potential and a focus on expediting the introduction of industries and major projects [2][3] - The government plans to establish a Northern Metropolis Development Committee to streamline administrative processes and create a dedicated legal framework for its development [2][3] Group 2: Integration with National Development - The Policy Address outlines how Hong Kong can better integrate into the national development framework, enhancing its role as a platform for international cooperation and trade [3][4] - The focus will shift from merely attracting investments to actively seeking opportunities in emerging markets, reflecting changes in global trade dynamics [2][3] Group 3: Social Welfare and Living Standards - Improving the quality of life for citizens is a primary goal, with initiatives aimed at better housing, increased income for workers, and enhanced care for the elderly [3][4] - The report highlights the importance of economic growth as a foundation for improving living standards, which in turn stimulates market vitality and economic development [3][4] - Specific measures include increasing public housing supply, enhancing transportation systems, and reforming healthcare to ensure sustainability and accessibility [4]

Core Viewpoint - The Hong Kong government is accelerating the development of the Northern Metropolis, establishing a dedicated committee to streamline administrative processes and enhance resource allocation for this strategic area [1][3]. Group 1: Development Plans - The Northern Metropolis will be led by a committee chaired by the Chief Executive, with three working groups focusing on development models, university city planning, and comprehensive management of planning and execution [1]. - The Northern Metropolis encompasses approximately one-third of Hong Kong's total area, including developed towns and new development zones [1]. Group 2: Economic Potential - The Northern Metropolis is identified as a strategic development area with significant economic value and potential, aiming to enhance Hong Kong's integration with the Greater Bay Area [3][5]. - The area is expected to accommodate around 250,000 residents, representing one-third of Hong Kong's total population by the end of 2024, based on current population estimates [5]. Group 3: Innovation and Collaboration - The "Shenzhen-Hong Kong-Guangzhou" innovation cluster has ranked first globally, indicating a synergistic development model that enhances collaboration between these cities [4]. - The Northern Metropolis is positioned to improve technological and industrial connections with Shenzhen and Guangzhou, fostering closer geographical and industrial ties [3].

Core Points - The Hong Kong government is accelerating the development of the Northern Metropolis, which is expected to enhance cooperation between Hong Kong and Shenzhen, as well as contribute to the Greater Bay Area construction [1][5] - The Northern Metropolis will cover approximately 300 square kilometers and is projected to accommodate 2.5 million people, creating 500,000 new jobs [1][2] Group 1: Development Initiatives - A "Northern Metropolis Development Committee" will be established, chaired by the Chief Executive, to streamline administrative measures and expedite development [2][3] - The government plans to implement a fast-track approval system and adopt advanced construction methods to reduce costs and shorten project timelines [2][3] - The government will introduce flexible land allocation policies to encourage enterprise participation in the Northern Metropolis development [2][3] Group 2: Infrastructure and Connectivity - The government aims to enhance transportation infrastructure, including cross-border rail projects to improve connectivity between Hong Kong and Shenzhen [4] - The Northern Metropolis will significantly boost the confidence of industries to establish operations in the area due to improved infrastructure [4][5] Group 3: Technological Development - The government will accelerate the development of the Lok Ma Chau Loop Hong Kong-Shenzhen Innovation and Technology Park, with the first three buildings already completed [3] - The New Tin Technology City development plan will be announced within the year, focusing on top-level design and industry positioning [3]