The billboard of the 8th Greater Bay Area Chief Economists Forum 2026 in Shenzhen on July 24
Themed on "Open Asia-Pacific, Shared Prosperity—APEC 'China Year' and the New Mission of the Greater Bay Area," the 8th Greater Bay Area Chief Economists Forum 2026 kicked off in Shenzhen on July 24.
As the 33rd APEC Economic Leaders' Meeting is set to be held in Shenzhen this November, the forum brought together top experts and scholars from home and abroad to explore ways to advance economic integration and institutional openness of the Asia-Pacific region.
Jointly organized by the School of Management and Economics of the Chinese University of Hong Kong, Shenzhen (CUHK-Shenzhen), its affiliated Shenzhen Finance Institute and Shenzhen Institute of Data Economy, as well as the CUHK Business School, the forum highlighted five core areas: Asia-Pacific trade and economic development, digital technology, green energy, regional markets and development practices in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).
Andrew Sheng delivers a keynote speech by video link to the forum in Shenzhen on July 24, 2026.
In a keynote speech titled "Reshaping Global Value Chains: A New World Order," Andrew Sheng, a member of the International Advisory Council of the National Administration of Financial Regulation and a former board member of Khazanah Nasional Berhad, Malaysia's sovereign wealth fund outlined four trends driving the emergence of a new multi-polar world order: shifts in energy and power paradigms, trade fragmentation, geopolitical finance and AI disruption.
Sheng analyzed the characteristics of the three major economic systems of China, the United States and Europe and warned of the risks of debt crises and asset bubbles. He called on all countries to strengthen their resilience and develop a framework for cooperation to address systemic changes.
Wang Chunxin delivers a keynote speech at the forum in Shenzhen on July 24, 2026.
Wang Chunxin, deputy head of the Chief Executive's Policy Unit of the HKSAR Government, described the GBA as China's most internationalized city cluster and outlined four missions for it in helping build the Asia-Pacific community.
The four missions are to pioneer reform and opening-up; become a hub for technological innovation in the Asia-Pacific; deepen regional connectivity and build bridges for cooperation; and leverage the Hong Kong SAR's unique strengths to support China's overall development.
China's trade volume with other APEC economies totaled $3.7 trillion last year. China was also the largest trading partner of 13 APEC economies. "At this stage, the most important way to promote greater openness is to establish the Free Trade Area of the Asia-Pacific (FTAAP)," he highlighted.
The Asia-Pacific region accounts for nearly half of global trade. Establishing a FTAAP covering 40 percent of the world's population and 60 percent of global GDP is key to resolving regional financial and trade issues, as Wang noted.
He then added that the region should benchmark against high-standard international trade rules, such as those set out in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Digital Economy Partnership Agreement, which have extended beyond cross-border tariffs to encompass domestic fair competition policy systems.
Li Qile (L2) speaks during a panel discussion in Shenzhen on July 24, 2026.
At a panel discussion on market opportunities among APEC economies, Li Qile, general manager of HSBC China's GBA, analyzed the GBA's strategic opportunities in the region.
According to Li, the GBA is highly resilient, dynamic and innovative. Shenzhen's strength as an innovation hub complements Hong Kong's role as a financial center and its mature services sector, facilitating the overseas expansion of advantageous industries.
Given the proximity of Shenzhen and Hong Kong, enterprises in the GBA can base their headquarters or R&D centers in Shenzhen while utilizing Hong Kong as a settlement center, a platform for industrial coordination and a financing channel for IPOs and bond issuances, forming effective synergies.
"They can better address international compliance issues, such as rules governing cross-border data and finance, and align more effectively with international standards," he added.
According to Li, Chinese companies' global expansion has evolved through three phases: early exports and overseas sales; overseas factory construction, mergers and acquisitions; and the global deployment of technologies, R&D capabilities and talent.
Li said the Regional Comprehensive Economic Partnership, which aligns with APEC's goals, can help link markets across ASEAN, Northeast Asia, North America, South America and Oceania, and bridge gaps in regional connectivity.
Reporter | Zhang Ruijun
Photos | Zhang Ruijun
