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Apart from creating a “world class” tech zone, the Tencent chairman believes that it will help maintain prosperity and stability in Hong Kong and Macau

On March 3, Bloomberg reported that Tencent Chairman Ma Huateng has proposed to build a new tech zone in South China, which will be the equivalent of the country’s own version of Bay Area.

Speaking at a press conference two days before the National People’s Congress, Ma said that the porposed tech bay should include Hong Kong and Macau.

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“[China] has the ability to create a world-class tech bay area, and preside over the global tech revolution of the future … It will also help the long-term stability and prosperity of Hong Kong and Macau,” he stated.

In China, as a response to the government’s call for innovation, there are currently 120 tech zones across the country.

Tencent itself is headquartered in Shenzhen, Guandong, while it rival Alibaba is headquartered in Hangzhou, Zhejiang.

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