With ambitious plans in mind and unlimited opportunities in sight, you can now look to HSBC’s latest digital offerings, including Account Connect, Payment Connect, Service Connect and Credit Connect*, to unlock potential for renewed growth.
About the Greater Bay Area
The Guangdong-Hong Kong-Macao Bay Area (‘Greater Bay Area’ or GBA) is an initiative that will form a new chapter in South China’s history. The Greater Bay Area aims to bring together two Special Administrative Regions: Hong Kong and Macao with nine cities in Guangdong: Guangzhou, Shenzhen, Zhuhai, Foshan, Zhongshan, Dongguan, Huizhou, Jiangmen and Zhaoqing and combine the strengths of each city to build itself into a world-class city cluster that is positioned as an international technology and innovation hub with global influence, a pivot for the Belt and Road Initiative, a demonstration zone of deepened cooperation between Mainland China and the two Special Administrative Regions and a robust community for living, working and travelling. The GBA is set to become a major powerhouse that leverages each city’s strengths in a synergistic manner to drive trade and economic growth.
Key statistics
86.7m
Population
55,913km²
Land area
RMB12,633.5bn
GDP
RMB16,546.5bn
Total value pf merchandise trade
*Source: https://www.dsec.gov.mo/BayArea/en-US/ (data as of 2021）
The Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area (‘Outline Development Plan’) promulgated in 2019 set out the basic principles, strategic positioning, development goals and space planning of the region in order to fully leverage the combined strengths of Guangdong, Hong Kong and Macao, deepen cooperation between Mainland China and the two Special Administrative Regions, and further enhance the GBA’s role as a spearhead of China’s economic development and opening-up.
Financial Services
• Leverage the strengths of Guangzhou, Shenzhen, Hong Kong and Macao to build the GBA into an international financial hub.
• Develop green finance and pilot FinTech
• Promote cross-border trading of financial products in the GBA at a measured pace, and diversify investment product categories and investment channels
Commerce & Trade
• Promote investment facilitation, trade liberalization and easier flow of people and goods
• Jointly participate in the Belt and Road Initiative
• Accelerate the development and construction of key platforms such as Shenzhen Qianhai, Guangzhou Nansha and Zhuhai Hengqin to form a Guangdong-Hong Kong-Macao cooperation and development platform
• Accelerate infrastructural connection and build a modern network of integrated logistics and transportation
Technology & Innovation
• Establish a ‘Guangzhou-Shenzhen-Hong Kong-Macao technology and innovation corridor
• Promote advanced manufacturing and accelerate the development of hi-tech, innovation and R&D facilities
• Strengthen access to capital markets for technology companies
• Foster cross-boundary collaborations and the flow of talent and resources
• Establish an intellectual property exchange platform
Infrastructure & Manufacturing
• Establish next-generation information infrastructure and develop an energy security system
• Strengthen the GBA’s water infrastructure and flood management system
• Accelerate the development of advanced manufacturing and modern service industries, and promote smart manufacturing
• Develop digital economy and sharing economy, and promote inter-regional cooperation in digital and creative industries
Green Energy
• Strengthen regional cooperation in environmental protection across the GBA
• Develop innovative models for green and low-carbon development. Widely adopt experience from the pilot program of Carbon Generalized System of Preferences. Drive research and application of carbon label mutual recognition in the GBA
• Promote green technology and green manufacturing. Accelerate the creation of green industry system Establish demonstration zones for green development
• Develop the ocean economy
Health & Tourism
• Build a culturally appealing GBA by improving its system of public culture services and system of cultural and creative industries
• Create a tourist-friendly GBA, diversify tourism offerings, explore new travel routes in the area and develop its cruise market
• Provide quality healthcare service and brand the area as “Healthy GBA”
Stronger as one
The GBA cities have individually achieved rapid growth throughout the last 40 years of China’s reform and opening up. Through regional integration and coordination of the GBA, its four major cities will become core engines for regional growth. Together with seven key node cities in the region, they will jointly contribute to rapid growth of the entire GBA.
HONG KONG
- A major international financial center in the GBA
- A global offshore RMB hub and an international center for asset and risk management
- An international legal and dispute resolution service provider in the Asia-Pacific region
MACAU
- One of the lowest tax rates in the GBA with zero FX control and status as a free port and separate customs territory
- A well-renowned tourism and leisure destination
- A commerce and trade cooperation service platform between China and Portuguese-speaking countries
SHENZHEN
- A national innovation and economic core city
- A capital of innovation and creativity with global influence
- A key R&D and manufacturing center in South China
- Endeavor to become a demonstration zone showcasing socialism with Chinese characteristics
GUANGZHOU
- A national core city and an integrated gateway city
- A national commerce and industry hub
- A major transportation hub in the GBA
- A technological, educational and cultural center
Dongguan - An internationally renowned manufacturing base for multinationals
Zhongshan - A key city along China’s coastal economic belt and a major hub for R&D commercialization
Foshan- A key part of the Pearl River-West River economic belt and an important manufacturing center for Guangdong and China in general
Jiangmen - West hub of the GBA with a focus on developing five major emerging sectors, i.e. advanced equipment manufacturing and next generation IT, new energy vehicles, spare parts, health and new materials
Zhuhai - The only mainland Chinese city with road connections with both Hong Kong and Macao. A major tourism hub with a well-established industrial base
Zhaoqing - A popular tourist destination and a hub linking the GBA with China’s southwestern region
Huizhou- Green city and the east hub of the GBA with an array of well-developed industries including petrochemicals, electronic information and clean energy
