On February 18, the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) marks five years since the publication of its Outline Development Plan. This milestone celebrates the transformation of the GBA from a visionary concept in 2019 to a thriving integrated economic zone.
Over the past five years, China's remarkable development has been driven by strategic government policies that have spurred rapid urbanization. To manage this growth, China shifted focus from expanding individual cities to creating massive city clusters that enhance economic and political integration. Among these, the GBA stands out as a world-class business and innovation hub.
The GBA leverages the strengths of nine cities and two special administrative regions in south China, including Hong Kong and Macao. This integration has strengthened the region's status as a global financial center, attracting international businesses, significant investments, and highly skilled professionals.
With a history of foreign capital inflow and a dynamic industrial ecosystem, the GBA offers a favorable environment for investment, featuring a robust consumer base and advanced manufacturing capabilities. These factors have elevated the GBA's international competitiveness, placing it alongside leading city clusters like San Francisco, Tokyo, and New York.
The collaboration between Hong Kong's financial expertise and Guangdong Province's manufacturing prowess has been key to the GBA's success. As a result, the region has become a magnet for global businesses and investors, solidifying its position as a pivotal player in the world economy.
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Five years on, China's vision of the Greater Bay Area is materializing
cgtn.com
