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.

Marcos Chan, Head of Research at  CBRE for Hong Kong, Southern China and Taiwan, gave an overview of the development of the Greater Bay Area and the emerging opportunities for commercial real estate investors, at a roundtable on 21 September. Chan highlighted the free trade zones -- including Nansha, Qianhai and Hengqin -- which he said would be the major suppliers of space for development. The demand for commercial property in Shenzhen’s Qianhai, for example, is ample and there are more than 160,000 registered companies clustered in the area, he told members at the event.

PC Yu, Chairman of the Chamber’s China Committee, led a 34-member delegation to Zhaoqing and the Zengcheng Qiaomengyuan Overseas Chinese Entrepreneurs Industrial Zone in Guangzhou - both located within the Greater Bay Area - on 24-25 May. Delegates had the opportunity to exchange views during meetings with local leaders and officials on the latest development and cooperation between Hong Kong and Guangdong. The delegation also visited Zhaoqing New District, Chengfu Rehabilitation Project, Seven Star Crags scenic area and the Zhaoqing Hi-tech Development Industrial Zone.
 

Home to more than 10,000 high-tech firms, Shenzhen today is truly a “city of innovation.” It is a key base for advanced R&D and manufacturing in the Mainland, and is particularly known for its world-class technologies in drones, DNA sequencing, monitors and 4G technology. Companies that have set up headquarters or R&D facilities in the city include many well-established high-tech enterprises, and the number of start-ups choosing Shenzhen as their base has also risen in recent years. Chamber Chairman Stephen Ng and China Committee Chairman PC Yu led a 40-member delegation to visit Shenzhen on 25 April to learn more about the latest developments, as well as the positioning of the city in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).