Hong Kong is ready to discuss land, tax incentives and financial support for businesses setting up in the Northern Metropolis, the finance chief has told a trade seminar in Beijing, stressing a “flexible and innovative” approach will be taken with developing the megaproject.

Financial Secretary Paul Chan Mo-po on Thursday also met Xia Baolong, Beijing’s point man on Hong Kong affairs, who underscored the central government’s support for the city’s efforts to bolster its competitiveness through its first local five-year plan.

Delivering the keynote address at the Hong Kong Trade Development Council seminar, Chan stressed the Northern Metropolis’s position as a cooperation platform in the Greater Bay Area, noting the cross-border innovation and technology (I&T) cooperation zone in Hetao would promote the flow of personnel, resources, capital and data across the border with mainland China.

“We welcome mainland and overseas enterprises to actively participate in the Northern Metropolis, bringing cutting-edge technologies and talent, as well as upstream and downstream industry chains,” he said.

“With Hong Kong’s strengths, we can explore international markets and support Hong Kong’s development as an international I&T hub.

“The administration is ready to offer its preferential policy packages, while we will adopt a flexible and innovative cooperation model. We can talk about land, tax incentives, financial support and co-investment.”