THE GBA: TIME TO PUT PLANS INTO ACTION Rather than halting progress, the pandemic has helped to fast-track China’s economic development with the Guangdong - Hong Kong - Macao Greater Bay Area (GBA) expected to further its role as the important driver and Hong Kong the super-connector, linking the region’s cities to world markets - by Daniel Chan Opportunities like the GBA come around once in a generation. Even against the backdrop of the pandemic, the region has shown its potential for gggg
prosperity and as a driver for global growth. For multinational businesses that have been eyeing the emerging opportunities, it is no longer a question of ‘if’ to develop the GBA operations, but rather ‘how’ to take their plans forward.
From promise to reality Market confidence in the GBA has always been encouraging. In a survey 1 that we conducted with KPMG and the Hong Kong General Chamber of Commerce, of the 700 business executives interviewed across mainland China, Hong Kong and Macau, over 80% of them expected the GBA to grow faster than the rest of China. Over half of the respondents also planned to expand their own businesses across the GBA cities by 2022. The pandemic has not dampened this outlook. China has already regained its pre-pandemic activity, showing encouraging growth momentum while leading the recovery for Asia 2. We are also seeing greater focus on the ‘dual circulation’ economic model which will provide opportunities for foreign companies in China to broaden their business operations. As these trends continue, the GBA has a vital role acting as the bridge to overseas markets offering great growth potential for businesses and entrepreneurs from around the world. Britain in Hong Kong
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