Greater Bay Area

Empowering Development and Sharing Opportunities - Looking at the Vitality of the Guangdong Hong Kong Macao Greater Bay Area from the Development Business Conference

2025-09-16   

The 3rd Guangdong Hong Kong Macao Greater Bay Area Development Business Conference, with the theme of "Empowering the Greater Bay Area and Jointly Expanding New Opportunities", opened in Guangzhou on the 15th. This is the first time that the conference has been held in mainland China, and the scale of participation is the largest in history. More than 1200 government agencies and business representatives from 30 countries and regions attended, fully releasing the signal of full vitality and broad development prospects in the Greater Bay Area. During the 2-day conference, guests focused on topics such as international supply chain collaborative innovation, global trade risk response, cross-border financial cooperation, and promotion of commercial and legal cooperation for exchange and discussion, and participated in activities such as inspection and docking. Since the release of the Outline Development Plan for the Guangdong Hong Kong Macao Greater Bay Area six years ago, the economic strength and regional competitiveness of the Greater Bay Area have significantly increased. By 2024, the total economic output of the Greater Bay Area will exceed 2 trillion US dollars, creating 1/9 of the country's total economic output with 0.6% of its land area and 6% of its population. Zhu Wei, Deputy Director of the Development and Reform Commission of Guangdong Province and Executive Deputy Director of the Greater Bay Area Office of Guangdong Province, introduced that the innovation level of the Greater Bay Area continues to improve, the industrial system is increasingly sound, and the business environment is continuously optimized. Next, we will accelerate the construction of a "resilient bay area", continuously optimize the business environment that is similar to Hong Kong and Macao, and integrate with the international community, and focus on creating a free, open, and inclusive innovation ecology; Actively collaborate with Hong Kong and Macao to build a "going global" service network for enterprises, and deeply participate in global industrial division of labor and cooperation. In recent years, the global trade and supply chain landscape has been restructured, with many mainland enterprises deploying cross-border supply chains and exploring emerging markets. Chen Baili, Deputy Secretary for Commerce and Economic Development of the Hong Kong Special Administrative Region Government, believes that this trend can become a new growth point. The Hong Kong Special Administrative Region Government continues to encourage mainland entrepreneurs to actively consider setting up regional headquarters for managing international business in Hong Kong, as well as regional headquarters with different functions, fully utilizing Hong Kong's advantages to enter the international market, and strengthening cooperation with Hong Kong enterprises to play a synergistic role. Xie Yongqiang, Chairman of the Administrative Management Committee of the Macao Special Administrative Region Investment Promotion Agency, said that the current global industrial and supply chains are undergoing profound adjustments. Building a resilient, safe, and sustainable international supply chain system is not only a challenge, but also a strategic opportunity for the Greater Bay Area to achieve high-quality development. In the future, we will strengthen investment promotion, build Sino Portuguese platforms, and promote the development of the exhibition industry, continuously expand the international "circle of friends", help enhance the technological innovation path of enterprises in the Greater Bay Area, and strengthen the resilience of the supply chain. At the meeting, the Guangdong Hong Kong Macao Greater Bay Area Exhibition Industry Alliance was established and released the "Guangdong Hong Kong Macao Greater Bay Area Supply Chain Promotion Report" and the "China (Guangdong) Pilot Free Trade Zone Temporary Arbitration Guidelines". Deepening the integration of industry and commerce and deepening economic and trade cooperation among Guangdong, Hong Kong, and Macao in multiple fields, and moving towards a "world-class Greater Bay Area and the best developed bay area", the construction of the Greater Bay Area has entered a new stage of deepening. Cai Guanshen, President of the Hong Kong Chinese General Chamber of Commerce and Chairman of the Guangdong Hong Kong Macao Greater Bay Area Entrepreneurs Alliance, believes that Hong Kong and the Greater Bay Area business community can further strengthen cooperation in emerging technology fields such as quantum computing, biotechnology, and artificial intelligence, and jointly attract innovative resources from home and abroad. Zheng Yongnian, Dean of the School of Public Policy at The Chinese University of Hong Kong (Shenzhen), said that the Greater Bay Area has strong basic scientific research and strong ability to transform applied technology. Guangzhou, Shenzhen, and Dongguan have strong supply and industrial chains, and the Hong Kong International Financial Center can also provide financial services for the manufacturing industry in the Greater Bay Area. If these resources are integrated, the Greater Bay Area will lead the development of China's modern industrial system and the construction of a unified market in the Greater Bay Area. In the view of Liu Jun, President of Industrial and Commercial Bank of China, the Greater Bay Area has abundant innovation opportunities and imaginative space in the financial application of artificial intelligence and big data, as well as in the ecological evolution from financial technology to decentralized finance. As a Bay Area urban cluster with the characteristics of "one country, two systems, three currencies, and three tariff zones", there is an inherent demand for cross-border financial scenarios. The mutual recognition and interoperability paradigm of finance in the Bay Area will serve as an anchor for the development of broader global financial businesses. Xie Yongqiang suggested leveraging the advantages of the linkage between Macau and Hengqin to promote industrial cooperation between the Greater Bay Area and Portuguese speaking countries in areas such as green environmental protection, cross-border e-commerce, and modern finance, so as to accurately connect the international supply chain of the Greater Bay Area with different Portuguese speaking countries. In the future, it is expected that global capital will converge on the stability, flexibility, and resilience of the Greater Bay Area. Fan Nuoya, Senior Vice President of the US China Business Council, used these three words to define the competitiveness and attractiveness of the Greater Bay Area. He said that American companies are still committed to exploring the Chinese market, and the Greater Bay Area highlights China's position as a global manufacturing and innovation hub. Its complete business ecosystem serves as both a testing ground and a training ground, helping companies validate new ideas, optimize business models, and achieve large-scale expansion from China to the global market. In the view of Jiang Yida, Chairman of Swire China, the future competition in the global Gulf region will not only be a competition of traditional economic indicators, but also a comprehensive competition of comprehensive strength and future potential. As an important engine for national development, the competitiveness of the Greater Bay Area is not only reflected in the total economic output, but also in the improvement of enterprise products and service quality, the improvement of residents' living standards, high-quality sustainable development, and the construction of talent training system. "Yu Xueli, Senior Vice President of Visa and President of Greater China, said that the pace of Chinese enterprises" going global "has accelerated, cross-border business travel continues to heat up, and the Greater Bay Area is an important concentration of global air cargo. The company actively promotes the digitization of supply chain financing, and through its global network and digital payment technology, looks forward to achieving win-win cooperation. Victor Queiroz, Chief Representative of the Brazilian Export Investment Promotion Agency for the Asia Pacific Region, believes that the Greater Bay Area is an important gateway for China's opening up and innovation, highlighting the synergies of the global supply chain. The team has set up a Greater Bay Area office in Nanshan, Shenzhen this year and is promoting new routes with China. Brazil is willing to work with the Greater Bay Area to jointly build a more stable, open, and sustainable international supply chain through the two-way interaction of products and services, industries and technology

Edit:He Chuanning Responsible editor:Su Suiyue

Source:Xinhua

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