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.