It is also a significant move because, besides Guangdong startups, it also opens the region to international high-tech companies, bringing in new dynamic to the technology development of the Greater Bay Area, he said.
It is estimated that it will generate 10,000 jobs, much-needed affordable housing, .2 million annually in county tax revenue and attract thousands of domestic and international visitors, the developers said.
It is also conducive to sticking to a people-centered development philosophy, protecting people's rights and interests according to the law, promoting the country's human rights cause and advancing the modernization of the country's governance system and capacity, he added.
It predicted China's grow at 6.6 percent this year and 6.4 percent for the next year, both 0.1 percentage point higher than its October forecasts.
It is telling that the city's needy children should be denied an equal chance at online learning at times of compulsory school closure when Hong Kong's latest official child poverty rate stands at 16.8 percent. As per the figure released in December 2019, 170,000 Hong Kong residents aged below 18 are living in poverty.
It is expected that the beef processing zone, co-developed by a meat company in Shanghai and the government of Ruili, will have the capacity to slaughter and process 500,000 cattle annually.
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It is also worth noting that the elderly population will remain at over 2.5 million for at least 30 years, it said, adding that in 2069, the number of elderly persons is projected to reach 2.58 million.
It is working with a number of leading companies including Alibaba, Nvidia and Huawei in terms of research and development.
It means a turning point has come and a rising trend is expected to return in the fourth quarter, Yan Yuejin, research director at E-house China R&D Institute, said.
It pledges to bring in international mechanisms related to technology research and participate in formulating international rules of new technologies. For instance, it allows firms in the zone to adhere to Hong Kong and Macao auditing standards.