To seek economic links with the outside world
As a costal area of China, opening-up is crucial for the GBA. And, as the GBA is a part of the world economy, it should compete with other countries rather than provinces or regions of China, said Professor Zheng.
This shows the importance of "external circulation", which relates to China's economic links with the outside world, a component of the country's new development paradigm "dual circulation". Professor Zheng suggested to further "go global" and "bring in" to find more opportunities, then promote the openness of China. The signing of RCEP agreement with ASEAN countries is also a practice of "external circulation" for China.
As for the GBA, it can serve as a center to connect Hainan FTZ and Fujian-Taiwan Cross Strait Economic Zone, presenting a huge market in South China, then access to global markets for a larger circulation to the world. The common market should develop comparative advantages, reduce repetitive production of low value-added products between regions, and avoid vicious competition.
International campuses in Shenzhen. (Photo provided to GDToday)
Talent is also another important factor for the development of the GBA, and local governments should think about how to attract and retain those personnel. In Professor Zheng's opinion, the number of international schools is one key criteria for a world-class bay area, the GBA should build more international schools especially for education from kindergarten to high school. It will solve the worries of children's education for high-end talent settling here.
For Chinese Version please click here: 著名学者郑永年：大湾区推动内部规则统一比任何时候都要迫切
Schedule planner: Tang Lina
Planners: He Jingwen, Men Lili, Zhang Ying
Reporters: Li Miaojuan, Zhan Haishan
English version: Will
English editors: Nan, Jerry