“Many of my Hong Kong friends expressed their hope to start a business here (in Shenzhen), and there is no doubt that the development of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) can benefit all of us.” Dr. David T. Hon, the founder of the Dahon Group, the world's largest manufacturer of folding bicycles with a majority world market share, shared his take on the GBA development.
(Poster: Mia)
Born in Hong Kong, Dr. Hon moved to the US with his family at a very early age. He founded the Dahon Group in the US and set up offices in Hong Kong and Shenzhen, as Dahon Group now owns assembly factories in the Chinese mainland and Macao SAR.
This week China released plans for the Guangdong-Macao in-depth cooperation zone in Hengqin and the Shenzhen-Hong Kong Modern Service Industry Cooperation Zone in Qianhai. Dr. Hon indicates that his company will take the opportunity and be more involved in this area.
GDToday: Since Dahon Group has set up offices in the GBA, what benefits has your company gained?
Dr. Hon: The construction of the GBA is a good practice, and now Guangdong has a bright economic development prospect, with specific experience and talent in manufacture and sales.
Take Dahon Group as an example. We have an R&D center in Shenzhen, a warehouse in Huizhou, and OEM factories in Dongguan. Products in Huizhou are generally exported through the Shenzhen port. In addition, the Hong Kong office is mainly responsible for the production bases in Europe and the Taiwan region.
More specifically, the GBA offers us opportunities to hire overseas talent. A preferential policy on IIT has taken effect. That is, overseas high-end talent and critically lacking talent who work within the GBA mainland cities shall be given financial subsidies if their IIT paid exceeds the tax amount computed at 15% of their taxable income. Thanks to the policy, now we have three senior foreign directors.
（Photo provided to GD Today）
GDToday: According to the plan, the Qianhai Cooperation Zone will focus more on the modern service industry and optimize the business environment. What kind of opportunities do you think will bring to the Dahon Group?
Dr. Hon: China wants to create the "Manhattan of the Pearl River Delta," and the construction of the GBA is a good practice.
Shenzhen is a special economic zone and owns Shenzhen Stock Exchange. Many high-quality and promising enterprises have their headquarters here. We hope to continue to give full play to the advantages.
As a tech company, the Dahon Group has owned lots of patents. Every year we license more than ten patents to domestic and overseas companies. These years, China has paid more attention to intellectual property (IP) protection, especially in Shenzhen, where our R&D center is located. Thanks to these policies, we have benefited a lot. I’m sure that relevant laws and regulations on IP protection will be better implemented and improved.
Author: Holly
Editor: Wing, Nan, Jerry
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