GBA Reports

Foshan Finds a Central Role

From world-class sports to high-tech ceramics, this GBA city shows how it is advancing in the manufacturing and leisure sectors

Bridging the Gap to the GBA

Members travel via new bridge to Zhuhai to see city’s industrial development

GBA Survey Reveals Confidence

Chamber’s Working Group finds optimism about business opportunities in Greater Bay Area

Surveys

Greater Bay Area Survey - 2018

The Greater Bay Area’s (GBA) economy will grow faster than the rest of China over the next three years, and boost corporate expansion plans, according to the majority of business executives in a joint survey by KPMG, HSBC and the Hong Kong General Chamber of Commerce. The survey, titled Navigating the Greater Bay Area – Second annual survey on key drivers for success, was conducted in June and July 2018 and received responses from 714 business executives in Mainland China, Hong Kong and Macau.

The respondents highlighted a number of benefits of the GBA; 68% indicated the area’s potential for allowing access to more business opportunities, while 53% flagged options for greater synergy achieved by pooling resources.

While the GBA is expected to create business opportunities across all sectors, the survey respondents identified technology and innovation (53%), trade and logistics (45%) and financial services (44%) as the three key sectors to benefit the most.

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Greater Bay Area Survey - 2017

A survey on key drivers for success

Businesses overwhelmingly support China’s Greater Bay Area initiative, according to a YouGov survey commissioned jointly by KPMG and the Hong Kong General Chamber of Commerce. The two-month survey was conducted in June and July 2017 and received responses from 614 business executives in Hong Kong (410), Guangzhou (91), Shenzhen (82) and other GBA cities (31).

Of the total respondents, close to 65 percent were at a senior management level, while around 35 percent were middle management or below. The companies they represent were from a wide range of industries, including manufacturing (157), distribution (143), e-commerce (73), retail (70), logistics (58), and others. The idea of Hong Kong, Macau and Guangdong working together to create GBA resonated with the survey respondents with 80 percent indicating their support for integrated development across the region.

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Past Events

Opportunities Ahead - Transplanting HK's Success into the Greater Bay Area

At a roundtable on 18 March, Tommy Yuen, Director (Constitutional and Mainland Affairs), Special Duties, HKSAR Government, briefed members on the key messages of the Outline Development Plan for the Greater Bay Area, and the direction of related work for the Government. Catherine Tsang, Partner at PwC China's Tax and Business Advisory Division, also shared her views on the latest GBA developments and how Hong Kong implants its successful experience to promote the development of the region.

The Greater Bay Area Development Blueprint and Prospect

The Central Government released its Development Plan for the Greater Bay Area on 18 February, which contains specific guidance on the role of Hong Kong. At a Chamber luncheon on 26 February, Dr Tse Kwok Leung, Head of Policy and Economic Research at Bank of China (Hong Kong), introduced members to the key points of the Plan. Also at the event, Daniel Leung, Chief FinTech Officer at Forms Syntron Information (HK), shared from his own experience how Hong Kong-based technology companies can grow by taking advantage of the opportunities in Shenzhen and the wider region.

Delegation to Foshan

Members took advantage of the faster travelling time to the Greater Bay Area provided by the new High Speed Rail link on a Chamber visit to Foshan on 17-18 January. Petrina Tam, Chairman of the China Committee, and Eric Fok, Chairman of the Young Executives Club, led the joint delegation where they met with local leaders and officials to learn about the latest developments in the city and the growing cooperation between Hong Kong and Foshan. The delegates also visited a number of companies, business zones and facilities, including the newly opened GBA International Sports and Cultural Centre, the Foshan High-Tech Industrial Development Zone and Lingnan Tiandi, an old town regeneration project.

The Next Opportunity in the Greater Bay Area

Sam Farrands, Head of Projects at King & Wood Mallesons, shared his insights into the business, economic and social opportunities opening up as a result of the Greater Bay Area (GBA) at a roundtable luncheon on 4 October. With a population of about 68 million, the GBA is set to become one of the top metropolitan areas in the world, rivalling the economic performance of the Tokyo, San Francisco and New York bay areas. Farrands explained that the huge improvement in transport links also means that, within a few years, people will be able to easily travel across the region for leisure and cultural events. This will present opportunities in the development of social infrastructure, particularly in the areas of sports stadiums, museums, event management and other lifestyle facilities and services. Farrands also discussed some of the challenges, such as the different legal, tax and currency systems in Hong Kong, Macao and the Mainland -- which may risk impeding the GBA’s development.



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