Greater Bay Area

Greater prosperity in the Guangdong-Hong Kong-Macau Greater Bay Area would require greater synergising and complementarity between the core leading cities of Hong Kong, Shenzhen and Guangzhou. But this is easier said than done, especially for Hong Kong. EAI senior research fellow Yu Hong explains.

Shenzhen’s Qianhai is a relatively new business district that the Chinese government wants to develop. However, there has been comparatively little pull so far, given that general facilities are lacking and the supportive policies for foreign companies are no different from those in other areas in Shenzhen. However, some business people Zaobao talked to are upbeat about its future.

The Greater Bay Area remains China’s manufacturing vanguard with great potential, despite the hard knocks weathered by the tech and fintech firms in the area. Be that as it may, greater centralised technological leadership is a double-edged sword, say Hong Kong analysts Naubahar Sharif and Wendy Weng.

As the 25th anniversary of Hong Kong’s handover draws near, Hong Konger Thomas Chan reflects on the changes that have taken place over the last few years and the real and pressing issue of residents, especially the young, drifting away. Most are seeking better prospects abroad in a wry turn of events from a time when the city was viewed as the land of opportunity. Now, amid dreary skies and Telegram alerts announcing yet another citizen-police chase, the city stands forlorn as it watches its people leave.

The Hengqin Plan and Qianhai Plan released by the Chinese central government aim to deepen economic cooperation and promote cross-border integration within the Guangdong-Hong Kong-Macau Greater Bay Area (GBA). The Plans will involve greater integration of Hong Kong and Macau with the mainland. While Macau has always embraced this trajectory and the Hengqin Plan could bring greater dynamism to the SAR, Hong Kong’s fears of “mainlandisation” and the territorial instincts of mainland cities may present some obstacles to the Qianhai Plan. EAI academic Yu Hong tells us more.

Over the past two years, the nine cities (Dongguan, Foshan, Guangzhou, Huizhou, Jiangmen, Shenzhen, Zhaoqing, Zhongshan and Zhuhai) and two special administrative regions (Hong Kong and Macau) of the Greater Bay Area (GBA) have ramped up efforts and combined resources to build a credible GBA Chinese film industry. The authorities aim to leverage the experience and expertise of the Hong Kong film and television industry in its heyday in creating a new paradigm for future Chinese movies. Indeed, many Hong Kong directors such as Tsui Hark have joined the ranks of those who are making this a reality. Zaobao journalist Zeng Shi notes that the GBA has policy support and capital, but can this nascent film industry make good productions and develop a strong identity of its own?

Zaobao correspondent Yu Zeyuan notes the growing gap between northern and southern China in terms of economic and population growth, as businesses and people become more concentrated in the south. How will the central government tackle this imbalance?

While the Yangtze River Delta region comprising Shanghai and parts of Jiangsu, Zhejiang and Anhui has been seeing strong economic development, it could be more productive. Provinces with their own targets to meet have few incentives for regional integration, leaving the region as a whole less competitive. How can policies or market mechanisms be implemented to encourage more collaboration between local governments?

While the UK imports a high volume of goods from China, it exports many sought-after services in areas including finance, law and accounting. Its latest niche is its expansion into education, targeting the Guangdong-Hong Kong-Macau Greater Bay Area.