Since the reopening of the borders last year, policies in place have enabled progress in transport, border clearance as well as exchanges of people, think tank expert says.
Capital has been flowing into the bay area, but questions linger about its appeal to investors.
In the third of a four-part series on the Greater Bay Area’s fifth anniversary, we look at how Hong Kong has become the de facto wealth management hub for the wealthy. Enhancements to cross-border payments and investments will only add to the city’s lustre.
Some experts have warned that Hong Kong could lose out in the battle for business as Shenzhen and Guangzhou airports eye aggressive expansion.
Leung says the draft legislation for Article 23 comparable with countries such as Singapore, which recently acted against a Hong Kong-born citizen under a law to counter foreign interference.
After five years, China’s efforts to integrate its populous south under its Greater Bay Area blueprint appear to have borne fruit, with transport between regions already taking less time – and future construction aims to make those trips even faster and easier.
Hong Kong Financial Secretary Paul Chan says stronger links between city’s financial sector and rest of Greater Bay Area being forged.
Qianhai’s tax incentives are among measures that have attracted major Hong Kong banks to invest in grade-A office buildings, and to develop a wide range of banking, securities and insurance businesses in the area.
