Executive summary
Key words: Integration, infrastructure, hi-tech, green, finance, RMB, wealth, property, consumption, uniqueness, powerhouse
The Guangdong-Hong Kong-Macao Greater Bay Area has is an economic dynamo within China, achieving over RMB14trn (USD 2trn) in GDP - one-ninth of the nationwide total - during 2023. This is impressive as the region comprises less than 1% of the country's landmass. As of 2023, the scale of economy has outsized the Tokyo Bay Area, making it one of the top bay areas in the world.
Propelled by 1. strategic infrastructure development, 2. advancement in high-technology manufacturing, 3. accelerating new energy development, 4. burgeoning trade and financial flows, 5. robust private consumption, and 6. resilient property market, the region has cemented its status as one of the most vigorously expanding economic zones globally. Continuous modernization of transportation linkages, port facilities, aviation infrastructure, and pioneering industries is transforming the Greater Bay Area into a seamlessly integrated commercial hub.
Deepening collaboration and connectivity amongst its constituents is anticipated to attract further foreign and domestic investment as well as talented individuals. Additionally, the region's innovative and diversified production capacity with an emphasis on cutting-edge sectors is positioned to stimulate additional growth. With supportive policies from central government and as a focal point of national development strategies, the Guangdong-Hong Kong-Macao Greater Bay Area is expected to continue leading as a model for regional cooperation and a major engine to sustain China's economic strength.
To read the full report, click here to Download the PDF.