Hong Kong's past success and future also lies in our city's uniqueness and strengths, many of which are guaranteed under the Basic Law.
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Hong Kong is well-positioned to play a key role and progress has been made since the approval of the GBA Outline Development Plan in February 2019. With a total population of 72 million and a combined GDP of around US$1.7 trillion, the GBA will bring abundant development opportunities to different sectors of the community. Take a look on what the industry leaders have to tell. Find out how Hong Kong, the world's 2nd largest centre for biotech funding, and Shenzhen, the tech capital of Mainland China, are helping the GBA morph into the "Silicon Valley" in Asia.
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Hong Kong and Shenzhen, two of the largest cities in the GBA, are pooling their strengths to transform the GBA into a global innovation and technology hub.
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Bloomberg explores how the city's deep roots in international shipping, logistics and a game-changing airport development project is set to help unleash the full potential of the GBA, a region that will potentially become the world's 11th-largest economy with a GDP forecast to reach US$4.6 trillion by 2030. Building on its storied history and success as a global trading port over the past 175 years, Hong Kong is set to take global trade to the next level. This reflects the increase in capacity and efficiency of import and export of goods to other regions by land, air and sea. According to the World Trade Organization’s World Trade Statistical Review 2020, Hong Kong’s global ranking of merchandise trading increased from number 12 in 2009 to number 8 in 2019. Over the past decade, Hong Kong has strengthened its position as a major international trading hub. That storied legacy forms the foundation of the city’s robust trading and logistics industry, which represents one of the key pillars of Hong Kong’s economy. Hong Kong’s status as a prominent mercantile centre can be traced back to the mid-19th century. Source: Securities and Futures CommissionĪ New Dawn for Global Trade via Hong Kong The SFC will continue to work with the HKMA and other relevant authorities to prepare for an early launch. The MoU would lay a solid foundation for the launch of the Scheme, which would deepen financial integration of the GBA. It complements existing regulatory cooperation among the relevant authorities. The MoU aims to provide a framework for exchange of supervisory information and enforcement cooperation as well as a liaison mechanism for investor protection issues among the regulatory authorities in the three jurisdictions. The Securities and Futures Commission (SFC) announced on 5 February 2021 that it has entered into a Memorandum of Understanding (MoU) on the Cross-boundary Wealth Management Connect Pilot Scheme in Guangdong-Hong Kong-Macao Greater Bay Area (the Scheme) with the People’s Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, the State Administration of Foreign Exchange, the Hong Kong Monetary Authority (HKMA) and the Monetary Authority of Macao. To better understand the GBA, https:/ here is a detailed look at the comparative strengths of the cities that make up the region, business owners who are already feeling the benefits of operating within the GBA, and the potential for growth in the region over the next decade. As a well established international hub for business, finance, and aviation, Hong Kong has a pivotal role to play in realizing this vision.
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With policy support from the Central Government, the vision for the GBA is to create a powerful engine for nationwide growth by harnessing the collective force of 11 key cities - nine in Guangdong Province plus the Special Administrative Regions of Hong Kong and Macao.
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Now, a new region is rapidly emerging in southern China: the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). Hong Kong - A Gateway to the Thriving Greater Bay Areaīay Areas around the world have a proven reputation for powering economic growth far beyond their geographical boundaries, with San Francisco, New York, Tokyo, and Sydney being just a few examples.