China holds off on Greater Bay Area master plan as trade turmoil clouds outlook
The blueprint was expected to be released early this year but has been delayed possibly until July or August, a Guangdong government adviser says
The release of a long-awaited blueprint for a massive economic integration plan in southern China is on hold amid “external uncertainties”, according to an economist advising the authorities.
Details of the proposed “Greater Bay Area”, a master plan to integrate Hong Kong, Macau and nine cities in southern Guangdong province, were expected to be released early this year.
But the release had not been confirmed and might be delayed until July or August, with Beijing reluctant to unveil a big economic initiative as trade turmoil with Washington added to the uncertainties, said the economist, who advises the Guangdong government on the plan.
“All eyes are on the US-China trade war so June is not a good time for Beijing to release the plan,” he said, adding that if it were rushed out it might not have the desired impact.
The Greater Bay Area plan reflects China’s ambition to turn southern China into a science and technology hub to rival the San Francisco Bay Area in the United States and Tokyo Bay in Japan. Its goal is to move China up the global supply chain and support its “Made in China 2025” plan, a target of repeated White House criticism.