Core Viewpoint - The development of the Northern Metropolis is seen as a key driver for Hong Kong's future growth and a crucial platform for industrial transformation and innovation, with significant strategic implications for long-term sustainable development [1][2][3] Economic Performance - Hong Kong's economy is highly external-oriented, closely tied to the global economic environment, with a real GDP growth of 3.1% year-on-year in the first half of the year, and a slight increase from 3.0% in the first quarter to 3.1% in the second quarter [1] - The unemployment rate remained stable at 3.7% from June to August, with continuous growth in citizens' employment income [1] Government Initiatives - The government aims to explore new economic growth points and optimize the industrial structure to enhance growth momentum and create quality job opportunities [2] - The development of the Northern Metropolis and the establishment of an international innovation and technology city reflect the government's commitment to injecting new momentum into Hong Kong's economy [2] - The Northern Metropolis is positioned to leverage the "14th Five-Year Plan" development strategy, facilitating better integration with national development goals [2] Investment and Industry Development - The Northern Metropolis is expected to play a critical role in advancing higher education, modern logistics, and upgrading existing industries, while also improving living conditions to alleviate congestion in core urban areas [2] - The government is focused on attracting investment and enterprises through a diversified development model, with a new policy package aimed at promoting investment and industrial development across various sectors, including land allocation, pricing, finance, talent, and taxation [3] - A new committee has been established to oversee the development of incentives for attracting industries and investments, with the first meeting held on October 6 to review current strategies [3]

Core Insights - The Hong Kong Chief Executive, John Lee, will attend a Legislative Council meeting to discuss accelerating the development of the Northern Metropolis [1] - The latest issue of the Legislative Council's "Special Bulletin" highlights the Hong Kong-Shenzhen Innovation and Technology Park, which includes areas for health technology, artificial intelligence, and advanced manufacturing [1] - The park is expected to contribute up to HKD 52 billion annually to Hong Kong's economy upon full development [1] Group 1 - The Northern Metropolis Innovation and Technology Belt's strategic layout and development progress are outlined, emphasizing cross-border cooperation advantages [1] - Legislators suggest leveraging cross-border cooperation in areas such as data flow, intellectual property protection, and fintech innovation [1] - Recommendations include developing a "pilot base" in the Hong Kong-Shenzhen Innovation and Technology Park and introducing more incentives to attract international investment [1] Group 2 - To enhance talent training and promote "industry-academia-research" collaboration, legislators propose establishing a research and technology transfer base at the Northern Metropolis University Education City [2] - Encouragement for higher education institutions to collaborate with renowned universities domestically and internationally to create synergistic effects through resource sharing and industry linkage [2]