The Greater Bay Area (GBA) continues to grow strongly, reinforcing its status as a global innovation hub. Fuelled by technological advancements, finance and cross-border integration policies, its economy expanded by 5.1% year-on-year in 2024, according to a recent report by Savills.
The GBA has gained from increased investments in infrastructure, such as the Shenzhen-Zhongshan Bridge and the expansion of digital economy initiatives, strengthening its position as a crucial driver of China’s economic modernization.
Under the “One Country, Two Systems” framework, Hong Kong, as an international connector, can actively facilitate the Greater Bay Area’s integration into the global economy. The region also presents Hong Kong businesses with tremendous opportunities, particularly within the services sector.
However, while the economic potential is vast, achieving success necessitates leveraging Hong Kong’s international business practices and navigating the Mainland’s regulatory environment. To that end, the Chamber has regularly organized GBA business expansion tours to connect Hong Kong companies with opportunities in all key cities of this dynamic region.
Later this month, a delegation of executives from Hong Kong’s professional services industry will travel to Dongguan to explore developments in the city’s high-tech sectors and foster partnerships between enterprises from the two economies.
Similar to neighbouring GBA cities that are developing strategic industries like AI and the low-altitude economy, Dongguan is leveraging technological innovation as its main driving force, along with information technology, high-end equipment manufacturing and new materials.
I am pleased to share that our recent trips have achieved remarkable reach. Members have gained invaluable firsthand insights across the GBA – from Foshan’s pioneering energy technologies to Shenzhen’s thriving pharmaceutical, healthcare and financial services sectors, as well as Zhongshan and Jiangmen’s robust industrial ecosystems.
These business missions represent our systematic efforts to unlock the GBA’s full potential by establishing direct channels for collaboration. This includes meetings and exchanges with business leaders, government officials and local enterprises, helping companies benefit from understanding local policies, incentives and regulatory compliance.
Significantly, they have revealed how Hong Kong’s professional services, financial expertise and international networks can complement the GBA’s manufacturing strength and innovation capacity to create win-win scenarios.
By committing to regional collaboration, Hong Kong businesses can contribute to and benefit from the GBA’s development, driving its growth as one of the world’s most innovative bay economies.
Patrick Yeung
ceo@chamber.org.hk