Opening up new opportunities across the region
The Guangdong-Hong Kong-Macao Bay Area (The Greater Bay Area)
At a glance
Combined GDP in 2017
Expected GDP by 2030
Guangdong-Hong Kong-Macao Bay Area (The Greater Bay Area) is an initiative that will form an exciting new chapter in South China’s history. The Greater Bay Area aims to bring together the two Special Administrative Regions of Hong Kong and Macao with nine cities in Guangdong: Guangzhou, Shenzhen, Zhuhai, Foshan, Zhongshan, Dongguan, Huizhou, Jiangmen and Zhaoqing. Together, they will form a world-class city cluster that will play a leading role in global innovation, finance and trade.
By combining the strengths of each city to facilitate trade and growth, the Greater Bay Area has the potential to be an economic powerhouse that will be comparable or even surpass leading bay areas across the globe, such as the Greater Tokyo Bay, San Francisco Bay Area, and New York Metropolitan Area.
The cities in the Greater Bay Area have achieved rapid growth throughout the last 40 years of China’s economic reforms and opening up, developing specialities and unique advantages. Under this initiative, each city can focus on leveraging these skills to boost their own economy as well as the wider economic growth of the region. Therefore, a key objective of the Greater Bay Area is to improve cooperation in order to become a major economic powerhouse with diverse elements.
Banking and Financial Services
- Hong Kong is a prominent international financial centre with world-class financial and legal system, and extensive experience in banking and financial services.
- Shenzhen is a major technology manufacturing and innovation hub, home to several largest tech giants in China.
- Dongguan is a major manufacturing hub that acts as a base for many of the world’s leading multinational businesses.
- Foshan has the largest number of townships among Guangdong’s prefecture level cities, and has developed specialities in goods such as electronics and furniture.
- Zhaoqing is a cultural centre, is steadily growing its manufacturing sector, with rich primary resources including rare metals and herbal medicines.
- Zhongshan is a city at the heart of the home appliance industry chain which also excels in manufacturing denim wear.
- Guangzhou is one of China’s most important trading centres, with an expansive transportation network that includes a busy port, railway, and airport.
Tourism and Leisure
- Macao is a renowned tourism and leisure hub, with a flourishing entertainment industry.
- Zhuhai is a major tourism hub with a beautiful natural environment that is renowned for its high standard of liveability. The city also has a strong industrial base.
- Jiangmen is establishing itself as a logistics hub with several notable pillar industries, including motorcycles, metal production and paper making.
- Huizhou is one of China’s top green cities. It is also specialised in petrochemicals and electronic information, as well as clean energy.
HSBC recognises the vast potential of the Greater Bay Area. With a significant presence across the Greater Bay Area cities, we are well positioned to help you seize the business opportunities available within the region.