The Guangdong-Hong Kong-Macao Greater Bay Area (GBA) has achieved a remarkable economic milestone in 2023, with a total output exceeding 14 trillion yuan (approximately $1.97 trillion). This impressive figure accounts for one-ninth of China's national economy, despite the GBA occupying less than 0.6 percent of the country's territorial area.
Zhu Wei, executive deputy director of the GBA office in Guangdong, highlighted the region's significant growth over the past five years. \"In 2018, the GBA's total economic output was 10.8 trillion yuan. We have seen an increase of 3.2 trillion yuan, underscoring our robust economic development,\" Zhu stated.
The Greater Bay Area has not only expanded its economic footprint but also enhanced its scientific and technological innovation capabilities. With over 75,000 national-level high-tech firms, including industry giants like Huawei Technologies, Tencent Holdings, and BYD Auto, the GBA is a powerhouse of innovation and entrepreneurship.
Infrastructure development has been a key driver of the GBA's success. The airport cluster within the region boasts an annual passenger throughput capacity of over 280 million people, while the ports can handle more than 85 million standard containers each year. These advancements have created a more facilitating business environment, attracting both local and international investors.
As the GBA continues to evolve, its improved transportation networks, enhanced business platforms, and commitment to technological advancement position it as a leading economic zone, not just within China but on the global stage.
Reference(s):
2023: Greater Bay Area posts nearly $2 trillion in economic output
cgtn.com
