Shenzhen’s gross domestic product last year grew by 7.6 per cent to 2.42 trillion yuan (US$361.24 billion), or HK$2.87 trillion based on the 2018 official exchange rate from Hong Kong’s Census and Statistics Department. Photo: EPA

Hong Kong economy surpassed by neighbour Shenzhen for first time in 2018 as China’s hi-tech hub soars

  • Finance chief Paul Chan Mo-po confirmed during Wednesday’s budget economic growth in Hong Kong rose by just 3 per cent to HK$2.85 trillion last year
  • Shenzhen’s gross domestic product grew by 7.6 per cent to 2.42 trillion yuan or HK$2.87 trillion based on last year’s official exchange rate
Topic |   China economy

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Shenzhen’s gross domestic product last year grew by 7.6 per cent to 2.42 trillion yuan (US$361.24 billion), or HK$2.87 trillion based on the 2018 official exchange rate from Hong Kong’s Census and Statistics Department. Photo: EPA
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Guangzhou, Guangdong’s provincial capital, missed target its growth target of 7 per cent last year. Photo: Bloomberg

China’s Greater Bay Area push could worsen Guangdong inequality and usher in new ageing crisis

  • Massive infrastructure investment in 12 regional cities has yet to boost growth, where per capita GDP is just a third of the average in richer regions
  • The focus on Greater Bay Area development has sparked fears that resources will not be evenly spread through Guangdong
Topic |   Greater Bay Area

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Guangzhou, Guangdong’s provincial capital, missed target its growth target of 7 per cent last year. Photo: Bloomberg
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