Page 80 - 2019 White Paper on the Business Environment in China
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9 White Paper on the Business Environment in China
1.4 Guangdong-Hong Kong-Macao
Greater Bay Area (GBA)
Note: Unless otherwise mentioned, the data are provided by Wind. Wind’s database is sourced from China’s
statistical offices or state agencies, such as the National Bureau of Statistics.
* Contributed by EY
Forthcoming Breakthrough for the GBA Seven Directions to Become a World Leader
Central Government Support for an By 2030, the region is expected to be a world leader
Ambitious Goal in advanced manufacturing, innovation, logistics,
trade and finance. Specifically, the GBA development
Anticipating Further Details on the GBA Development plan will likely focus on seven directions:
The details of the GBA will likely be released in - Connect and integrate the infrastructure
the coming months. With breakthroughs to developments in the region to reduce the travel time
remodel the region as a hub for both financial services within the region and strengthen the advantage of
and technology, we believe the plan will reflect the the region as a logistic center of the world.
Central Government’s ambition to turn the GBA into
a rival to the New York Metropolitan Area and San - Integrate the markets within the area to
Francisco Bay Area in the United States and Greater facilitate cross-border investments, job creation,
Tokyo Area in Japan, all of which are world-leading bay and talent migration between the Mainland, Hong
areas with economic and technology significance. Kong and Macao.
The concept of the GBA dates back to 2011 with a - Maximize the synergy within the region
study The Action Plan for the Bay Area of the Pearl River through their relative advantages in different
Estuary that was jointly prepared by the Governments modern industries.
of Hong Kong, Macao, and the Governments in the Pearl
River Delta, according to the State Council. The idea of a - Create a global hub in technology and
city cluster in Southern China was then expanded when innovation through promoting the adaptation and
the 13th Five-Year Plan (2016-2020) was endorsed in efficiency of research and development (R&D).
March 2016.
- Build a favorable environment not only for living
Under the witness of President Xi Jinping, the in but also for tourism, international-standard education,
preparation culminated in the signing of a framework entrepreneurship, and the attraction of talent.
agreement at the 20th anniversary ceremony of the
return of Hong Kong to China, in July 2017. Titled the - Establish a hub for international cooperation,
Framework Agreement on Deepening Guangdong-Hong especially through the deepening of connections
Kong-Macao Cooperation in the Development of the with the countries along the BRI.
Greater Bay Area, the document was jointly signed by
He Lifeng, the Head of the National Development and - Facilitate the success of inter-city collaborative
Reform Commission (NDRC); Ma Xingrui, the Governor platforms such as Qianhai in Shenzhen, Nansha in
of Guangdong; Carrie Lam Cheng Yuet-ngor, the Chief Guangzhou, and Hengqin in Zhuhai.
Executive of Hong Kong; and Fernando Chui Sai-on, the
Chief Executive of Macao. It shows that the GBA initiative,
and its goal of building a world leading megacity is a
policy initiative of top national priority.
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1.4 Guangdong-Hong Kong-Macao
Greater Bay Area (GBA)
Note: Unless otherwise mentioned, the data are provided by Wind. Wind’s database is sourced from China’s
statistical offices or state agencies, such as the National Bureau of Statistics.
* Contributed by EY
Forthcoming Breakthrough for the GBA Seven Directions to Become a World Leader
Central Government Support for an By 2030, the region is expected to be a world leader
Ambitious Goal in advanced manufacturing, innovation, logistics,
trade and finance. Specifically, the GBA development
Anticipating Further Details on the GBA Development plan will likely focus on seven directions:
The details of the GBA will likely be released in - Connect and integrate the infrastructure
the coming months. With breakthroughs to developments in the region to reduce the travel time
remodel the region as a hub for both financial services within the region and strengthen the advantage of
and technology, we believe the plan will reflect the the region as a logistic center of the world.
Central Government’s ambition to turn the GBA into
a rival to the New York Metropolitan Area and San - Integrate the markets within the area to
Francisco Bay Area in the United States and Greater facilitate cross-border investments, job creation,
Tokyo Area in Japan, all of which are world-leading bay and talent migration between the Mainland, Hong
areas with economic and technology significance. Kong and Macao.
The concept of the GBA dates back to 2011 with a - Maximize the synergy within the region
study The Action Plan for the Bay Area of the Pearl River through their relative advantages in different
Estuary that was jointly prepared by the Governments modern industries.
of Hong Kong, Macao, and the Governments in the Pearl
River Delta, according to the State Council. The idea of a - Create a global hub in technology and
city cluster in Southern China was then expanded when innovation through promoting the adaptation and
the 13th Five-Year Plan (2016-2020) was endorsed in efficiency of research and development (R&D).
March 2016.
- Build a favorable environment not only for living
Under the witness of President Xi Jinping, the in but also for tourism, international-standard education,
preparation culminated in the signing of a framework entrepreneurship, and the attraction of talent.
agreement at the 20th anniversary ceremony of the
return of Hong Kong to China, in July 2017. Titled the - Establish a hub for international cooperation,
Framework Agreement on Deepening Guangdong-Hong especially through the deepening of connections
Kong-Macao Cooperation in the Development of the with the countries along the BRI.
Greater Bay Area, the document was jointly signed by
He Lifeng, the Head of the National Development and - Facilitate the success of inter-city collaborative
Reform Commission (NDRC); Ma Xingrui, the Governor platforms such as Qianhai in Shenzhen, Nansha in
of Guangdong; Carrie Lam Cheng Yuet-ngor, the Chief Guangzhou, and Hengqin in Zhuhai.
Executive of Hong Kong; and Fernando Chui Sai-on, the
Chief Executive of Macao. It shows that the GBA initiative,
and its goal of building a world leading megacity is a
policy initiative of top national priority.
80
