Guangdong authorities released two documents Friday listing specific measures for the development of the Guangdong-Hong Kong-Macao Greater Bay Area, in a move to further implement the outline development plan for the area the State Council unveiled in February.
The area is expected to be turned into a world-class bay area by 2035, according to the documents.
The two documents also assigned 100 specific tasks to various departments in Guangdong to lay a solid foundation for the area’s development.
Tasks, including the development of the region into an international technology center, construction of a modern infrastructure system, and building an internationally competitive industry system in the region, have also been highlighted in the documents. The Guangzhou-Zhongshan-Zhuhai-Macao high-speed railway is also being planned.
Roles of four major cities —Hong Kong, Macao, Guangzhou, and Shenzhen — as the core engine for regional development should be enhanced, the documents said.
Liang Haiming, dean of the Belt and Road Institute at Hainan University, said that the new plans unveiled by Guangdong will substantially boost the development of the Greater Bay Area and further promote a smoother information and resource exchange channel set to benefit the growth of the three sides.
Industries in Hong Kong, Macao and nine Guangdong cities are highly complementary, and further integration will boost the overall development of the region, Billy Wong, deputy director of the research department at the Hong Kong Trade Development Council (HKTDC), said.
“As an international trading hub, Hong Kong has also been looking into how it could coordinate with cities on the mainland. As the Greater Bay Area aims to become more international, Hong Kong has the experience in services and finance, which could help mainland companies go global,” he said.
Meanwhile, mainland cities like Shenzhen have become major incubators of innovative tech startups, and Hong Kong companies are also eager to benefit from the mainland’s high-tech rise.
Home to 71.16 million people, the Greater Bay Area had a total GDP of US$1.6 trillion in 2018, which was the third-highest after the Tokyo bay area and New York metropolitan area, according to data published by HKTDC.
“The development plan also gives young people from Hong Kong and Macao more opportunities to find jobs, as well as to serve and devote themselves to the construction of their country,” Liang said.
The Greater Bay Area encompasses Hong Kong, Macao, Guangzhou, Shenzhen, Zhuhai, Dongguan, Huizhou, Zhongshan, Foshan, Zhaoqing and Jiangmen.