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Guangdong-HK-Macao Bay Area to be the engine in PPRD cooperation

2016-August-26       Source: Newsgd.com

Guangdong-HK-Macao Bay Area was one of the hot topics in the 11th Pan-Pearl River Delta (PPRD) Cooperation & Development Forum and Economic & Trade Fair which held in Guangzhou on August 25.

Guangdong-HK-Macao Bay Area was one of the hot topics in the 11th Pan-Pearl River Delta (PPRD) Cooperation & Development Forum and Economic & Trade Fair which held in Guangzhou on August 25.

Six distinguished guests shared their opinion to the construction of Guangdong-HK-Macao Bay Area in a sub-forum held yesterday (August 25) afternoon.

Six distinguished guests shared their opinion to the construction of Guangdong-HK-Macao Bay Area in a sub-forum held on yesterday afternoon.

Six distinguished guests shared their opinion to the construction of Guangdong-HK-Macao Bay Area in a sub-forum held on yesterday afternoon.[Photo/Southcn.com]

On March 15, 2016, the State Council of China released a guideline on promoting cooperation within the Pan-Pearl River Delta (PPRD) region, eyeing to build the region as a pioneer in reform and opening-up, an important engine for economic development.

Moreover, the guideline also clearly put forward that building a bay area among Guangdong, Hong Kong and Macao.

Guangdong-Hong Kong-Macao Bay Area will be the engine for PPRD’s economy

At present, bay area such as New York Bay Area, Tokyo Bay Area and San Francisco Bay Area, their GDP occupy a large share of their national overall economy.

Wei Jianguo, Executive Deputy Director of Executive Board of the Council of CCIEE (China Center for International Economic Exchange) indicated that bay area economy is the engine for economic growth, as 60% economy gather at estuary globally, while 70% industrial capital and population gather in coastal zone.

In Wei’s opinion, Guangdong-Hong Kong-Shenzhen Bay Area has a typical bay area economy with unique advantage.

“It is the best time to promote bay area economy,” Wei Jianguo said, “Guangdong-Hong Kong-Macao Bay Area covers 65,000 square kilometers, where is the engine for Chinese economic growth and the strongest area for innovation and comprehensive strength.”

According to Chen Yao, Director of Division of regional economics of Institute of Industrial Economics of CASS, bay area economy is a kind of regional economy, which different from inland economy. Generally speaking, bay area economy could be concluded as: large scale of industrial concentration, high production, high correlation and more opening-up.

“the bay area is also a new development mode for regional cooperative development and integrative development under two-system,” Chen said, “Guangdong-Hong Kong-Macao Bay Area have radiation ability which could eliminate the situation of imbalanced development in PPRD.”

Guangdong-Hong Kong-Macao Bay Area will be international operation center

Zheng Detao, Dean of Institute of Guangdong Hong Kong and Macao Development Studies of Sun Yat-Sen University pointed out that Guangdong and Hong Kong have highly developed export-oriented economy: 70% foreign investment come from Hong Kong, while 50% investment in foreign countries via Hong Kong.

“Guangdong-Hong Kong-Macao Bay Area could be built as an important international operation center for ‘One Belt and Road’ initiative.” Zheng said, “the bay area should have mechanism innovation, especially deepen the cooperation of trade liberalization under CEPA.”

As two important parts for the bay area, Ling Ka Kan, Director of HK Planning Department and Jackson Chang, President of Macao Trade and Investment Promotion Institute also delivered speeches for the construction of Guangdong-Hong Kong-Macao Bay Area.

Ling Ka Kan put forward that Hong Kong can be a platform for importing and exporting talents and enterprises, which can promote sustainable development in the bay area.

Jackson Chang indicated that Macao is building "three centers" between China and Portuguese-speaking countries, which includes commercial service center for China and Portugal SMEs, food distribution center for Portuguese-speaking countries and convention center for economic and trade cooperation between China and Portugal.

Furthermore, Macao is planing to organize enterprises from PPRD to visit Portuguese-speaking countries and countries alongside “One Belt and Road” initiative.

By Steven

Editor: Steven

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