國務院昨日公布全國部分地區要素市場化配置綜合改革試點實施方案，粵港澳大灣區內地九市是十大試點之一。今次試點不僅涉及土地、勞動力、資本等傳統要素，亦支持試點地區探索數據、算力、空域等新型要素配置方式和價值實現路徑。其中，灣區方案提及發展多層次資本市場、打造粵港澳大灣區債券平台、開展海陸空全空間無人機體系建設等任務。香港各界要緊緊把握內地新一輪改革的機遇，發揮好自身優勢，在加快與大灣區融合發展的進程中，為本港經濟高質量發展注入新動能。
在內地改革開放中，廣東一直是領頭羊，扮演着試驗田的角色。大灣區內地九市納入要素市場化配置綜合改革試點，再次體現了中央對廣東及大灣區的重視。作為大灣區城市之一的香港，不能置身事外。根據粵港澳大灣區九市要素市場化配置綜合改革試點實施方案，圍繞促進技術要素成果轉化、提高土地配置效率、引導人力資源暢通流動、加快培育數據要素市場、增強資本要素配置能力、加強資源環境制度建設、全面提高要素協同配置效率等七個方面展開，這些改革內容與香港息息相關，香港正好發揮所長。
大灣區內地九市中，廣州、深圳、佛山、東莞原本就是製造業和創新重鎮，推動土地、資本、數據、技術要素的市場化改革，使其向新質新域生產力方面傾斜，有力推動資本高效流動與整合。對香港而言，這是與大灣區內地城市深度融合發展的契機，雙方合作的門檻更低，機會面更廣。香港的法律、會計、諮詢等專業人才大有用武之地，進一步鞏固香港國際金融和專業服務中心的地位。
新一輪改革推動完善科技成果產權制度，促進數據要素流通和共享機制，有效促進新質生產力培育和發展。香港的科研優勢和國際化經驗，成熟的產權制度，可結合大灣區內地九市的產業配套和市場需求，形成優勢互補，香港創科發展也因此獲得新動力。
灣區方案特別提到，發展多層次資本市場，支持深圳證券交易所繼續完善上市制度，打造粵港澳大灣區債券平台，建立連接技術市場和資本市場的全國綜合服務平台。香港作為國際金融中心，資本市場成熟，近年也有不少內地債券在香港發行，香港在這方面的豐富經驗，可在灣區內地九市的資本市場改革中發揮獨特的作用。
灣區方案強調，強化新業態新領域和服務業要素保障，聚焦深海、航空、人工智能等新業態、新領域，推動生產要素創新性配置。香港正在全力發展創新科技，河套深港創新園更是香港與深圳合作的重點項目，灣區的要素市場化改革，既為香港創科產業帶來發展機遇，也可為香港提供借鑒。
值得一提的是，試點改革方案為大灣區部署了開展海陸空空間無人機體系建設等任務，在確保安全的情況下，探索空域、頻率等方面新型要素配置方式，形成發展新動能。深圳在內地低空經濟發展方面早着先鞭，有很強的實力，有關安排體現了國家所需和地方所長的結合。深圳在無人機產業體系建設方面的探索創新，對同樣在大力推動低空經濟的香港來說，別具意義。
香港一直是內地改革開放的見證者、參與者與受惠者。內地新一輪改革，將為香港帶來巨大發展機遇和紅利，並將加快香港進一步融入大灣區的步伐。特區政府需要高度重視今次改革，加強與灣區內地城市的機制對接、規則銜接，社會各界也要提升對大灣區融合發展的認識，在以香港所長、貢獻國家所需中，實現香港的高質量發展。
《大公報》 2025年9月12日
Seize the Opportunity of Reform and Promote Cross-boundary Integrated Development
The State Council yesterday announced an Implementation Plan for Comprehensive Reform of Market-based Allocation designates the nine mainland cities of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) as one of the ten pilot regions. Unlike previous initiatives, this round of pilot reform not only covers traditional factors of production such as land, labor, and capital, but also encourages pilot regions to explore new modes of allocation and value realization for emerging elements like data, computational power, and airspace. Notably, the GBA plan outlines key tasks including the development of a multi-tiered capital market, the creation of a Guangdong-Hong Kong-Macao GBA bond platform, and the construction of an integrated air, land, and sea unmanned systems network. Against this backdrop, it is imperative for all sectors in Hong Kong to seize the new opportunities afforded by this fresh wave of mainland reform, make full use of their unique strengths, and actively foster greater integration with th e GBA. By doing so, Hong Kong can inject fresh momentum into the city's pursuit of high-quality economic development.
Guangdong has always been a pioneer and a testing ground in China's reform and opening-up process. The inclusion of the nine mainland cities of the GBA in the comprehensive pilot project for market-oriented allocation of factors once again highlights the central government's strong emphasis on Guangdong and the GBA. As one of the GBA cities, Hong Kong cannot stand aloof.
According to the implementation plan for the pilot comprehensive reform of market-based factor allocation in the nine GBA mainland cities, efforts will be structured around seven key areas: promoting the commercialization of technological achievements, improving the efficiency of land allocation, facilitating the smooth flow of human resources, accelerating the cultivation of a data factors market, enhancing the capacity for capital allocation, strengthening the development of resource and environmental systems, and comprehensively improving the coordinated allocation of production factors. All these reform areas are closely linked to Hong Kong, providing an opportunity for the city to give full play to its strengths.
Among the nine mainland cities in the GBA, Guangzhou, Shenzhen, Foshan, and Dongguan have long been strongholds of manufacturing and innovation. The push for market-oriented reform of land, capital, data, and technological factors - directing them towards new forms and fields of productivity - will effectively drive the efficient flow and integration of capital. For Hong Kong, this presents a valuable opportunity for deep integration and development with the GBA mainland cities, lowering the barriers to collaboration and broadening the scope of possibilities. Hong Kong's professionals in law, accounting, and consulting have much to contribute, further strengthening Hong Kong's status as an international financial and professional services centre.
The new round of reforms will promote the improvement of the intellectual property system for technological achievements, facilitate the circulation and sharing of data factors, and effectively foster the cultivation and development of new forms of productivity. Hong Kong's research and development advantages, international experience, and mature intellectual property system can be integrated with the industrial support and market demands of the nine mainland cities in the GBA, creating complementary advantages. This will, in turn, provide new momentum for Hong Kong's innovation and technology development.
The GBA plan specifically mentions the development of a multi-level capital market, supporting the Shenzhen Stock Exchange in continuing to improve its listing system, building the Guangdong-Hong Kong-Macao GBA bond platform, and establishing a national comprehensive service platform connecting the technology market and the capital market. As an international financial center, Hong Kong has a mature capital market, and in recent years, several mainland bonds have been issued in Hong Kong. Hong Kong's rich experience in this area can play a unique role in the capital market reforms in the nine mainland cities of the GBA.
The GBA plan focuses on strengthening the protection of resources for new industries and the service sector, including areas like deep-sea, aviation, and artificial intelligence, while encouraging innovative use of production factors. Hong Kong is fully committed to developing innovation and technology, with the the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone being a key project of cooperation between Hong Kong and Shenzhen. The market-oriented reform of the factor market in the GBA not only brings development opportunities to Hong Kong's innovation and technology industry but also provides valuable insights for Hong Kong.
It is worth mentioning that the pilot reform plan has outlined tasks for the GBA, including the development of a marine, land, and air unmanned aerial vehicle (UAV) system. Under the premise of ensuring safety, the plan explores new ways of allocating elements such as airspace and frequencies to create new development momentum. Shenzhen has been a pioneer in the development of the low-altitude economy in mainland China and possesses strong capabilities in this area. The arrangement reflects the combination of national needs and local strengths. Shenzhen's exploration and innovation in the construction of the UAV industry system is particularly significant for Hong Kong, which is also vigorously promoting the low-altitude economy.
Hong Kong has always been a witness, participant, and beneficiary of the mainland's reform and opening-up. The new round of reforms on the mainland will bring tremendous development opportunities and benefits to Hong Kong, and will accelerate Hong Kong's further integration into the GBA. The HKSAR government needs to pay close attention to this reform, strengthen its mechanism and regulatory alignment with mainland cities in the Bay Area, and society as a whole should enhance its understanding of the GBA's integrated development. In leveraging Hong Kong's strengths and contributing to the national needs, Hong Kong can achieve high-quality development.
