The Guangdong-Hong Kong-Macao Greater Bay Area is a world-class cluster of nine municipalities in Guangdong Province, together with the Special Administrative Regions of Hong Kong and Macao. Spanning across a land area of 56,100 square kilometres, it has a total population of about 70 million, which is considerably larger than the other Bay Areas in Tokyo (44 million), New York (20 million) and San Francisco (8 million). The region’s GDP is about US$1.5 trillion, roughly the same as the economy of Australia.
A major initiative of China, the Greater Bay Area offers unprecedented opportunities to the global community, particularly to businesses, investors and professionals. The size, economic potential and interconnectivity of the region will create tremendous prospects for a wide range of sectors such as infrastructure, financial services, transport and logistics, tourism, capital markets and technology. With traditional strengths in manufacturing and technology, the region serves as an ideal base for innovation and R&D activities. It is certainly an opportunity not to be missed by businesses seeking penetration into the vast Mainland China market.
The various Greater Bay Area cities will leverage on their complementary strengths and deepen economic and social integration to enhance the global competitiveness of the region as a whole. By 2035, the aim is for the Greater Bay Area to become a robust economy with a sophisticated and prosperous environment which is ideal for living, working and travelling.
Being the most international city in the Greater Bay Area, Hong Kong is the ideal platform for businesses to seize the opportunities in the region. Operating under the principle of “one country, two systems”, Hong Kong enjoys the dual advantages of being part of China, while maintaining its international outlook and roles as a global financial, transportation and trade centre.
With a business-friendly environment, free economic system, and well-developed information technology infrastructure and financial system, as well as a wealth of high-end talents with extensive knowledge on global markets, Hong Kong offers businesses the perfect foundation to succeed in the region.
With the growth of the Greater Bay Area, Hong Kong has significantly strengthened its connectivity to the region through the launch of the high speed rail link and the Hong Kong-Zhuhai-Macao Bridge. The high speed rail link drastically reduces the travelling time from Hong Kong to major cities in Mainland China, while the Hong-Kong-Zhuhai-Macao Bridge, the world’s longest sea-crossing bridge, enables vehicles to travel from Hong Kong to Zhuhai/Macao in 45 minutes.
One of the exciting initiatives of the Greater Bay Area is the Hong Kong-Shenzhen Innovation and Technology Park (the Park) in the Lok Ma Chau Loop to be launched in the mid-2020s. Located in Hong Kong and right on it border with Shenzhen, the Park will allow businesses in Hong Kong to tap into Shenzhen’s booming innovation and startup ecosystem while enjoying the benefits of Hong Kong’s strong legal system and business environment. When completed, it will be the largest technology business park in Hong Kong with a size of 87 hectares.
Invest Hong Kong (InvestHK) assists enterprises from around the world to understand and take advantage of the business opportunities brought along by the development of the Greater Bay Area.
InvestHK is the department of the Hong Kong Special Administrative Region (HKSAR) Government responsible for attracting Foreign Direct Investment, supporting overseas and Mainland businesses to set up and expand in Hong Kong.
InvestHK has an overseas network of staff and representatives based in 30 key business cities worldwide covering its target markets. The Department has industry specialists in a range of priority sectors including: Business & Professional Services, Consumer Products, Creative Industries, Financial Services, Financial Technology, Innovation & Technology, Startups & Entrepreneurs, Tourism & Hospitality, and Transport & Industrial. It also has an Aftercare team to follow up clients’ needs after setting up or business expansion.
All our services are free, confidential and customised to clients’ needs. To learn more about InvestHK and its services, please visit www.investhk.gov.hk