Greater Bay Area, which is home to four top 10 richest people in China, will have a new cross-border trading scheme for investment products, a core project by Beijing to promote capital flows and investment among the 11 cities in the plan.

Hong Kong can connect the Greater Bay Area with the rest of the world, much like San Francisco’s role in the San Francisco/Silicon Valley Bay Area.

Desay SV Automotive, a Huizhou-based electronics components maker, is developing new technologies that could help Chinese electric vehicle makers put passengers into driverless cars.

The "Greater Bay Area" refers to the Chinese government's scheme to link the cities of Hong Kong, Macau, Guangzhou, Shenzhen, Zhuhai, Foshan, Zhongshan, Dongguan, Huizhou, Jiangmen and Zhaoqing into an integrated economic and business hub.

The cluster of 11 cities, with a combined population of 72 million residents and an economy estimated at US$1.65 trillion – equivalent to the world’s 11th-largest economy behind Canada and ahead of Russia, if it were a stand-alone entity – provides a potential market 10 times the size of Hong Kong.

Competition is becoming fierce as Hong Kong property giants join their mainland Chinese rivals in bidding for projects that can profit from their transport links within the future economic hub.

The Hong Kong family behind Nameson Holdings, which among other businesses also makes jumpers for Uniqlo, Tommy Hilfiger and others, is a big fan of Huizhou, and believes it will benefit from the Greater Bay Area plan.

Huizhou, which is included in Beijing’s Greater Bay Area development zone, was its most resilient office market over the first half of this year, according to property services firm Savills.

The GBA, a cluster of 11 cities in southern China including Hong Kong and Macau, is estimated to have a combined economic output of US$1.5 trillion, which would make it the world’s 13th-largest economy after South Korea if it were a stand-alone entity. Total population in the area is projected to grow to 100 million by 2035, from the current 70 million.

Huizhou, in southern Guangdong province, saw its home prices soar by 6.7 per after it emerged from coronavirus lockdown, but it is still far more affordable than nearby Shenzhen where new restrictions have made buying harder.

Huizhou, whose coastline in China’s southern Guangdong province is reachable in 90 minutes from Kowloon, is being pitched as an option for elderly citizens seeking escape from Hong Kong’s hardships.

China National Machinery Industry Corporation (Sinomach), the country’s largest industrial machinery company, has signed a framework agreement with the Huizhou municipal government to build a “world-class” industrial estate for modern equipment manufacturing.

President Xi Jinping promised unprecedented spending on ‘new infrastructure’, including 5G networks, in response to the economic impact of the coronavirus.

The new route focuses on serving tourists, but also facilitates trade between Greater Bay Area and cities in northern China, Russia and Mongolia, say experts.

In a boost for the Greater Bay Area city of Huizhou, two companies plan to invest 5 billion yuan (US$714 million) to set up 5G and R&D facilities.

Huizhou, one of the less developed cities in China’s scheme to create an economic hub, aims to embrace new industries like car making and clean energy.

Greater clarity on oversight and movement of capital is urgently needed or the scheme could flounder like the Hong Kong-China Mutual Recognition of Funds launched in 2015.

China is making an effort to leverage cross-border e-commerce to help foreign trade recover amid the Covid-19 pandemic.

Zhuhai tops the list of Greater Bay Area cities on the mainland with price gains of 1.8 per cent since February, closely followed by Dongguan at 1.7 per cent.

A convenient stop on Hong Kong’s Express Rail Link, Huizhou has a mix of urban areas, culture and scenery, with ancient pagodas and pavilions. Its top tourist attraction is the West Lake, which is perfect for lakeside wanders.