YOUR CHAMBER: FOREWORD
Foreword by Tommy Yuen, Commissioner for the Development of the GBA Development of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) is a key national development strategy of China in its pursuit of further reform and opening up in the new era. With a total population of over 72 million, a combined GDP of US$1.7 trillion and a rapidly expanding middle-class, the GBA is already a huge market with enormous opportunities.
new development strategy of ‘dual circulation’, we can focus on the business opportunities in the mainland market and take the GBA development as an entry point to proactively become a ‘participant’ in domestic circulation and a ‘facilitator’ in international circulation. Playing the dual role well will bring continuous impetus to Hong Kong’s economy.
On 11 March 2021, the National People’s Congress approved the “Outline of the 14th Five-Year Plan for National Economic and Social Development of the People’s Republic of China and the LongRange Objectives Through the Year 2035”, which is the blueprint and action agenda for the social and economic development of our country in the next five years. In this blueprint, Hong Kong’s competitive strengths as international financial, transportation and trade centres as well as a centre for international legal and dispute resolution services in the AsiaPacific region have continued to be recognised for advancement, while new impetus has been awarded to ‘four emerging sectors’, namely, an international innovation and technology hub, an international aviation hub, an ‘East meets West’ centre for international cultural exchange, and an intellectual property trading hub. Hong Kong businesses and people are set to benefit from unlimited development opportunities in each of these areas.
Looking ahead, the Hong Kong Special Administrative Region (SAR) Government will continue to pursue policy innovation and breakthroughs in taking forward GBA development through working closely with central government ministries, the Guangdong Provincial Government, the Macao SAR Government, as well as municipal governments of the nine Mainland cities of the GBA. We will also maintain close liaison with local stakeholders (including chambers of commerce) and, through strategic publicity and promotional efforts, enhance the awareness of various sectors of society on GBA development, and encourage them to actively participate in and make the best use of the huge opportunities involved.
With the support of the 14th Five-Year Plan, Hong Kong will actively participate in high-quality GBA development while maintaining our uniqueness under ‘One Country, Two Systems’. Under our country’s
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I wish the British Chamber of Commerce every success in hosting the Greater Bay Area Summit 2021, and all the participants a fruitful experience that will open up new opportunities for them in the GBA.
Tommy Yuen Commissioner for the Development of the GBA Hong Kong Special Administrative Region
