The Greater Bay Area refers to the initiative proposed by the central government to combine Hong Kong, Macau and nine cities in the Guangdong province to form a world-class integrated economic, business and technological hub.
China’s government is looking towards Hong Kong to lead this initiative due to its prime location, serving as a financial centre, and remaining closely linked to Southeast Asia. Hong Kong also boasts lower tax rate, intellectual property protection and has the highest contributing GDPs in the Greater Bay Area. Furthermore, the Greater Bay Area has the 3rd largest total GDP in the world, USD1.51 trillion in total, which is just slightly lower than the USD1.66 trillion of the New York metropolitan area of US and USD1.78 trillion of the Tokyo Bay Area in Japan.
The Greater Bay Area initiative is a great, ambitious plan that brings great opportunities for development of the country and the region. Tsangs Group is a big supporter in the vision of the Greater Bay Area. Tsangs Group shall invest a lot of financial and human resources in the next 5-10 years in the geographical area in sectors including real estate, finance and technologies.