Hong Kong has signed two milestone memorandums of understanding with partners in the Greater Bay Area to harmonise standards and commercialise advanced aerial technology as the city accelerates its integration into national development plans.Deputy Financial Secretary Michael Wong Wai-lun said on Thursday the cross-border pacts would combine the production and testing capabilities of the Guangdong-Hong Kong-Macau bay area with Hong Kong’s strengths in research and standards setting.“These agreements will leverage the strength of our [bay area] partners in testing environment and industrial production capability, and Hong Kong’s strengths in standards setting, as well as research and development,” Wong said at the Belt and Road Summit.“They will also facilitate the harmonisation of common standards and promote commercialisation of innovative [low-altitude economy] applications.”The annual summit promotes business among participating nations in the Belt and Road Initiative, Beijing’s project to build a China-centred global trading network.Wong said the government was pressing ahead with a regulatory scheme to test advanced aerial projects.