Hong Kong is one of the world's most open economies and the vitality of its institutions also serves as an important reference for the Chinese mainland in the process of its socio-economic transformation. The rise of the Pearl River Delta (PRD) is without doubt the result of the reform and opening-up policy of the Mainland and the continual shift of Hong Kong's capital, industry and entrepreneurship to the region.

In turn, the PRD has not only provided room for the upgrading of Hong Kong's domestic industry but has also given play to the PRD's advantages by offering cheap land and labour.........