The latest industrial upgrading in Foshan and Huizhou shows how the Greater Bay Area initiative is helping each of the 11 GBA cities to focus on and develop their particular strengths. 

At a Chamber seminar on 22 July, Cynthia Lam, Director, China Tax and Business Advisory at PwC China, introduced the latest developments in Foshan and Huizhou. Roger Yeung, Vice President of Sales, BIEL Crystal Manufactory; Benny Wong, Chairman and Executive Director, Nameson Holdings; and Victor Lam, General Manager, Forward Winsome Industries, joined the panel discussion to share their insights on the business opportunities as well as their experiences operating in the GBA.

The speakers said that upgrading businesses to adapt to market changes was essential to success. They also advised members to consider the needs, land supply, transportation and preferential policies of each city when deciding where to expand into the GBA.

David Chung, Undersecretary for Innovation and Technology, updated members about the progress of the Hong Kong-Shenzhen Innovation and Technology Park in the Loop at the GBA Working Group Meeting on 16 July. The election of GBA Working Group leadership also took place at the meeting. Petrina Tam was elected group convenor, taking over from PC Yu, who retired from the convenor after serving the group for three years.

Development of the Greater Bay Area’s western cities has a heavy emphasis on technology-intensive manufacturing, and their combined industrial value-added currently accounts for one-third of that of the entire GBA.

At a Chamber webinar on 22 June, Catherine Tsang, Partner, China Tax and Business Advisory Services, PwC China, introduced the latest trends in the western GBA. William Ling, Senior Vice President, Goldpac Group; Ivan Wong, Executive Director, Kum Shing Holdings; and Milford Choi, VP-Business Development Hongrita Plastics; also joined the panel to share their insights on the business opportunities as well as the local policies to support investment in each of the cities.

The Greater Bay Area initiative is driving new property developments across the region and creating opportunities for Hong Kong investors interested in the GBA's growing real estate sector.

At a webinar on 17 May, Fay Wu, Head of Research, China at JLL, gave an overview of the property market trends in the GBA. She explained that a coherent and hierarchical growth pattern had emerged with Shenzhen as the primary node, and Guangzhou and Hong Kong as important growth engines. The transportation network within the region also led to collaboration and innovation.

Dr Dennis Tang, Registered Foreign Lawyer (China) at ONC Lawyers, discussed the issues to be considered when purchasing property in the region. He recommended members to buy properties from reputable developers, to focus on the property itself and conduct a thorough due diligence check before entering into any agreements.