https://www.scmp.com/rss/513654/feed 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. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Geoffrey Chan,Brad Kininmonth Geoffrey Chan,Brad Kininmonth For cities around the world, hosting the Summer Olympic and Paralympic Games is often seen as both a prestigious honour and a daunting economic burden. The need to construct sports complexes, modernise transport networks and expand accommodation capacity can saddle hosts with debt and infrastructure that often falls into disuse post-Games. But what if the host has the DNA for hosting a successful Olympics and can surmount this financial strain? What comes to mind is the Greater Bay Area – a... https://www.scmp.com/opinion/hong-kong-opinion/article/3324566/why-greater-bay-area-should-host-2036-olympics?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3324566/why-greater-bay-area-should-host-2036-olympics?utm_source=rss_feed Wed, 10 Sep 2025 01:30:08 +0000 Ken Chu Ken Chu With China’s 15th National Games set for November, Hong Kong’s preparations are well under way. From Kai Tak Sports Park cutting its teeth on international events to the mobilisation of 15,000 local volunteers with training and test events, the city’s preparations signal that the Games are more than a sporting event. It is a platform for rethinking how Hong Kong engages with its Greater Bay Area neighbours, the city’s youth and the nation as a whole. This year marks the first time that Hong... https://www.scmp.com/opinion/hong-kong-opinion/article/3313213/hong-kongs-co-hosting-national-games-about-much-more-sport?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3313213/hong-kongs-co-hosting-national-games-about-much-more-sport?utm_source=rss_feed Sun, 08 Jun 2025 01:30:09 +0000 SCMP Editorial SCMP Editorial China’s drive for innovation is going full steam ahead. After Qianhai and Hengqin, Nansha has been named as the third innovation hub in the Greater Bay Area development zone. Hong Kong will play a central role as the trio of tech and finance hubs are expected to form closer ties with the only city in China that is not subject to capital controls. A slew of new measures has been announced to develop Nansha into a pilot zone for high finance and fintech. Along with Qianhai and Hengqin, the plan is... https://www.scmp.com/opinion/comment/article/3311635/nansha-gives-greater-bay-area-tech-innovation-boost?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3311635/nansha-gives-greater-bay-area-tech-innovation-boost?utm_source=rss_feed Fri, 23 May 2025 23:24:26 +0000 Vivian Au Vivian Au The escalating US-China trade tensions have prompted more European business chambers to seek collaboration opportunities in Qianhai, a special economic zone in Shenzhen near Hong Kong, according to a mainland-based incubator. Tech firms in Qianhai and Nansha, a district in southern Guangzhou, also said on Wednesday that Hong Kong now played a more crucial role than ever to provide financing support and assist them in exporting products overseas. During a press trip to the Greater Bay Area cities... https://www.scmp.com/news/hong-kong/politics/article/3307654/hong-kong-play-key-role-european-business-collaboration-amid-trade-war?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3307654/hong-kong-play-key-role-european-business-collaboration-amid-trade-war?utm_source=rss_feed Wed, 23 Apr 2025 14:38:53 +0000 China’s annual legislature and top advisory body sessions wrapped up this week after laying out a clear path for the year ahead, despite tensions stemming from the rivalry with the United States. The top leaders and policymakers set a growth target of around 5 per cent. To achieve this, they sent a strong signal that technology must be leveraged for healthier growth. There also were pledges for a more proactive fiscal policy and support for the private sector. In each of these objectives, Hong... https://www.scmp.com/opinion/comment/article/3302139/opportunities-knock-hong-kong-role-national-development?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3302139/opportunities-knock-hong-kong-role-national-development?utm_source=rss_feed Thu, 13 Mar 2025 00:15:08 +0000 Enoch Yiu Enoch Yiu Beijing will allow Hong Kong and Macau-domiciled banks to launch a range of services on the mainland including credit cards next month, the latest in a series of steps to integrate the financial sectors of China and its two special administrative regions. The National Financial Regulatory Administration (NFRA), an agency under the State Council that oversees the financial sector, said on Thursday that it would lift restrictions that currently prohibit Hong Kong and Macau banks from offering any... https://www.scmp.com/business/banking-finance/article/3299493/beijing-allows-hong-kong-banks-issue-credit-cards-mainland-march-1?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3299493/beijing-allows-hong-kong-banks-issue-credit-cards-mainland-march-1?utm_source=rss_feed Thu, 20 Feb 2025 13:06:35 +0000 Peggy Sito Peggy Sito In the second part of our series on Macau’s integrated resort operators, Peggy Sito looks at how Wynn Macau is adopting the playbook of its Las Vegas parent to capture the hearts and wallets of visitors, as it diversifies its earnings beyond the gambling tables. Click here for the first part. Last autumn, Lamborghini’s US$4 million Veneno Roadster was displayed in the lobbies of Wynn Macau’s flagship hotels, attracting large crowds of racing fans, automobile enthusiasts and tourists from... https://www.scmp.com/business/article/3295196/wynn-looks-vegas-remodel-macaus-us28-billion-casino-hub-14-economy?utm_source=rss_feed https://www.scmp.com/business/article/3295196/wynn-looks-vegas-remodel-macaus-us28-billion-casino-hub-14-economy?utm_source=rss_feed Sat, 18 Jan 2025 02:00:12 +0000 Sammy Heung Sammy Heung A 67-year-old man with chronic bronchitis has become the first patient to be transferred directly from Shenzhen in mainland China to Hong Kong by ambulance under a new pilot scheme to foster deeper collaboration in the Greater Bay Area. The Hospital Authority said on Friday the transfer went smoothly and that the patient, who holds a Hong Kong identity card, was currently receiving treatment at Tuen Mun Hospital. Dr Michael Wong Lap-gate, the authority’s director of quality and safety, said the... https://www.scmp.com/news/hong-kong/health-environment/article/3294281/hong-kong-admits-first-patient-cross-border-ambulance-pilot-scheme?utm_source=rss_feed https://www.scmp.com/news/hong-kong/health-environment/article/3294281/hong-kong-admits-first-patient-cross-border-ambulance-pilot-scheme?utm_source=rss_feed Fri, 10 Jan 2025 10:14:53 +0000 China’s first lady has urged Macau students to develop a strong understanding of local and national history as well as to serve the country, during a visit to mark the city’s 25th anniversary of its return to Chinese administration. Peng Liyuan, wife of Chinese President Xi Jinping, paid a visit to the Macau Museum on Thursday, her second day in the city for the celebrations and the inauguration of the new administration. She spent around 45 minutes inside the museum near Macau’s famed Ruins of... https://www.scmp.com/news/article/3291606/chinas-first-lady-calls-macau-students-embrace-heritage-serve-community-and-nation?utm_source=rss_feed https://www.scmp.com/news/article/3291606/chinas-first-lady-calls-macau-students-embrace-heritage-serve-community-and-nation?utm_source=rss_feed Thu, 19 Dec 2024 13:14:34 +0000 China is about to open the latest addition to a growing network of mega transport links in Southern China’s Greater Bay Area. The Huangmaohai Cross-sea Passage – a 31km (19-mile) crossing that connects the city of Zhuhai in the Pearl River Delta to cities west of Huangmao River – is scheduled to go into operation at 3pm on Wednesday, according to state broadcaster CCTV. The link – which crosses both land and water, consists of two cable-stayed bridges, two tunnels and four interchange... https://www.scmp.com/news/china/politics/article/3290129/chinas-huangmaohai-mega-link-about-boost-greater-bay-area-powerhouse?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3290129/chinas-huangmaohai-mega-link-about-boost-greater-bay-area-powerhouse?utm_source=rss_feed Tue, 10 Dec 2024 07:10:45 +0000 Hong Kong’s justice minister has pledged to match the city’s lawyers with their mainland Chinese counterparts and companies, as a record number of foreign legal professionals joined a delegation visiting neighbouring Guangdong province. Secretary for Justice Paul Lam Ting-kwok said on Friday that his department would continue to improve regulations and foster legal talent to provide services on the mainland to encourage more use of Hong Kong law in the Greater Bay Area. “I think the main role of... https://www.scmp.com/news/hong-kong/law-and-crime/article/3289781/matchmaker-role-justice-chief-between-hong-kong-lawyers-mainland-peers?utm_source=rss_feed https://www.scmp.com/news/hong-kong/law-and-crime/article/3289781/matchmaker-role-justice-chief-between-hong-kong-lawyers-mainland-peers?utm_source=rss_feed Fri, 06 Dec 2024 15:18:40 +0000 Lo Hoi-ying Lo Hoi-ying Hong Kong’s No 2 official has clarified that business leaders taking part in a fact-finding trip are not obliged to commit to investing in the Northern Metropolis, although he noted the response gathered for “zoned” projects has been positive. Chief Secretary Eric Chan Kwok-ki said on Wednesday that the trip had met its goal of helping the private sector better understand the zoned development model, as he concluded a three-day exchange to Guangdong province. “Our trip is purely an introduction... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3288401/hong-kongs-no-2-official-says-citys-tycoons-not-obliged-invest-northern-metropolis?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3288401/hong-kongs-no-2-official-says-citys-tycoons-not-obliged-invest-northern-metropolis?utm_source=rss_feed Wed, 27 Nov 2024 12:34:43 +0000 Lo Hoi-ying Lo Hoi-ying Hong Kong and Guangdong province businesses have signed economic and trade deals worth more than 100 billion yuan (US$13.8 billion) at a meeting promoting cooperation between the two places. Chief Executive John Lee Ka-chiu said on Monday the meeting in Guangzhou had brought together government and business representatives to jointly take action to promote high-quality development in the Greater Bay Area. “At the exchange meeting, we witnessed enterprises from Guangdong and Hong Kong signing as... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3288087/hong-kong-guangdong-firms-sign-trade-deals-worth-100-billion-yuan?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3288087/hong-kong-guangdong-firms-sign-trade-deals-worth-100-billion-yuan?utm_source=rss_feed Mon, 25 Nov 2024 12:29:38 +0000 Haining Gao Haining Gao / https://www.scmp.com/plus/article/3284730/chinas-greater-bay-area?utm_source=rss_feed https://www.scmp.com/plus/article/3284730/chinas-greater-bay-area?utm_source=rss_feed Fri, 01 Nov 2024 04:44:36 +0000 Macau has a new leader, former top judge Sam Hou-fai. Winning 394 of 400 votes in the Election Committee in an uncontested vote for chief executive was only the beginning of a five-year journey taking Macau into a new chapter. Diversifying its casino-led economy remains an urgent priority. Now it is framed by an important role in China’s national modernisation. President Xi Jinping is expected to visit Macau in December for Sam’s swearing-in ceremony, marking the 25th anniversary of Macau’s... https://www.scmp.com/opinion/article/3282352/daunting-tasks-ahead-new-macau-chief-development-push?utm_source=rss_feed https://www.scmp.com/opinion/article/3282352/daunting-tasks-ahead-new-macau-chief-development-push?utm_source=rss_feed Mon, 14 Oct 2024 22:30:07 +0000 Kahon Chan Kahon Chan Former top judge Sam Hou-fai won an uncontested election to emerge as Macau’s new leader on Sunday as Beijing lauded him for being a unifier and reformer, making him an ideal chief executive for the city’s next stage of development. The chief executive-elect received 394 votes from the 400-strong Election Committee in an hour-long poll. With four blank ballots cast and two absentees, Sam won the backing of 98.5 per cent of eligible voters. In comparison, his predecessor Ho Iat-seng secured 392... https://www.scmp.com/news/hong-kong/politics/article/3282151/voting-starts-macau-leadership-election-ex-judge-sam-hou-fai-runs-uncontested?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3282151/voting-starts-macau-leadership-election-ex-judge-sam-hou-fai-runs-uncontested?utm_source=rss_feed Sun, 13 Oct 2024 01:58:25 +0000 Kahon Chan Kahon Chan Macau’s only chief executive candidate was a little-known figure in the gaming hub before announcing his bid for the job in August, with his past public remarks limited to speeches at the start of each legal year as the city’s top judge. If elected, Sam Hou-fai, the former president of Macau’s Court of Final Appeal, will be the first chief executive to speak Portuguese, one of the city’s official languages, and the first to be born in mainland China – a connection shared by many local... https://www.scmp.com/news/hong-kong/politics/article/3282109/sam-hou-fai-man-macaus-top-job-pundits-weigh-ex-judges-strengths-weaknesses?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3282109/sam-hou-fai-man-macaus-top-job-pundits-weigh-ex-judges-strengths-weaknesses?utm_source=rss_feed Sat, 12 Oct 2024 12:00:09 +0000 Ng Kang-chung,Willa Wu Ng Kang-chung,Willa Wu China’s National Day “golden week”, which began on October 1, is usually a major travel and shopping period, but there was hardly any buzz in the historic heart of Macau last Wednesday afternoon. On Rua da Felicidade, a picturesque street close to bustling Avenida de Almeida Ribeiro, jade shop owner Yan Kin-kok prepared for an afternoon nap. He had no customers since opening at 11am. A government plan to diversify the local economy by turning the street into a pedestrian zone had not resulted in... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3281920/macau-top-job-hopeful-sam-hou-fai-betting-against-house-taking-aim-casinos?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3281920/macau-top-job-hopeful-sam-hou-fai-betting-against-house-taking-aim-casinos?utm_source=rss_feed Fri, 11 Oct 2024 00:30:10 +0000 Macau’s sole chief executive candidate has pledged to encourage casino operators to run more residency shows to boost tourism amid reports that British pop icon Adele turned down an invitation to perform in the city. Residency shows refer to an entertainment act at a fixed venue, such as casino resorts, that runs for an extended period. Sam Hou-fai, the former president of Macau’s Court of Final Appeal, also told a town hall meeting on Saturday that the gaming hub had to work on its shortcomings... https://www.scmp.com/news/hong-kong/politics/article/3281226/macaus-top-job-candidate-eyes-more-residency-shows-casinos-boost-tourism-city?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3281226/macaus-top-job-candidate-eyes-more-residency-shows-casinos-boost-tourism-city?utm_source=rss_feed Sat, 05 Oct 2024 13:11:11 +0000 Macau’s sole chief executive candidate has pledged to regulate the gaming sector and ensure orderly developments through “strict enforcement” of the law while supporting the growth of other industries and attracting more visitors from outside mainland China. Revealing his policy outline on Saturday, Sam Hou-fai, the former head of the city’s Court of Final Appeal, also suggested using the casino hub to promote exports of home appliances and other products manufactured in the Greater Bay Area to... https://www.scmp.com/news/hong-kong/politics/article/3280344/macau-top-job-candidate-vows-regulate-gaming-diversify-economy-policy-outline?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3280344/macau-top-job-candidate-vows-regulate-gaming-diversify-economy-policy-outline?utm_source=rss_feed Sat, 28 Sep 2024 05:56:41 +0000 Ng Kang-chung Ng Kang-chung Hong Kong, Macau and mainland China’s Guangdong province have struck a deal on cybersecurity aimed at enhancing cooperation in technological exchange, information sharing and emergency response measures in the Greater Bay Area. A lawmaker and a veteran IT professional welcomed the signing of the agreement, saying cross-border information sharing played a crucial role in addressing cyberattacks amid a fractured geopolitical landscape. Representatives from the governments of the three places... https://www.scmp.com/news/hong-kong/society/article/3277681/hong-kong-macau-and-guangdong-sign-cybersecurity-deal-boost-greater-bay-area-ties?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3277681/hong-kong-macau-and-guangdong-sign-cybersecurity-deal-boost-greater-bay-area-ties?utm_source=rss_feed Sun, 08 Sep 2024 12:08:15 +0000 Kahon Chan,Natalie Wong Kahon Chan,Natalie Wong Beijing has affirmed Hong Kong’s “irreplaceable” role in furthering the country’s reforms and opening up as the nation strives to become a modern socialist state, urging the city to contribute by refining its strengths and bolstering its international connectivity. Commerce minister Wang Wentao on Monday also pledged measures to elevate Hong Kong’s status as a global financial hub amid fierce regional competition as he briefed hundreds of officials, lawmakers and business leaders for 2½ hours on... https://www.scmp.com/news/hong-kong/politics/article/3275914/hong-kong-must-integrate-spirit-chinas-third-plenum-everyday-affairs-john-lee?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3275914/hong-kong-must-integrate-spirit-chinas-third-plenum-everyday-affairs-john-lee?utm_source=rss_feed Mon, 26 Aug 2024 07:01:28 +0000 Kahon Chan,Willa Wu Kahon Chan,Willa Wu A mainland Chinese-born justice widely expected to be the only candidate in Macau’s coming chief executive election might become the city’s first leader without a business background and his lack of a strong social network and governing experience could hamper his ability to lead, observers say. Sam Hou-fai, president of Macau’s Court of Final Appeal, said on Thursday he was considering running in the election in October after incumbent leader Ho Iat-seng announced he would not seek a second... https://www.scmp.com/news/hong-kong/politics/article/3275549/can-judge-lead-macau-sam-hou-fais-lack-track-record-fuels-doubts?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3275549/can-judge-lead-macau-sam-hou-fais-lack-track-record-fuels-doubts?utm_source=rss_feed Fri, 23 Aug 2024 01:00:11 +0000 Macau’s chief justice has said he is considering running for the city’s top job in October, a day after incumbent Chief Executive Ho Iat-seng announced he would not seek a second term due to health concerns. Sam Hou-fai, president of Macau’s Court of Final Appeal, said on Thursday he was considering throwing his hat into the ring. “The position of chief executive is a noble one, dedicated to serving both the Macau Special Administrative Region and its residents. I always hold a strong desire to... https://www.scmp.com/news/hong-kong/politics/article/3275497/macaus-chief-justice-may-run-citys-top-job-after-incumbent-bows-out?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3275497/macaus-chief-justice-may-run-citys-top-job-after-incumbent-bows-out?utm_source=rss_feed Thu, 22 Aug 2024 09:54:35 +0000 Natalie Wong Natalie Wong Lu Xinning, a deputy director of Beijing’s liaison office in Hong Kong, has been appointed as a member of the Chinese Communist Party Standing Committee of Guangxi, an autonomous region in southwest mainland China. Mainland media reported on Monday that Beijing had appointed Lu to the position. The Post learned that Lu had left Hong Kong for the new role. Lu, 57, served as the liaison office’s second of six deputy directors. She joined the office in May 2019, shortly before the outbreak of... https://www.scmp.com/news/hong-kong/politics/article/3275052/lu-xinning-beijings-top-office-hong-kong-affairs-gets-role-guangxi?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3275052/lu-xinning-beijings-top-office-hong-kong-affairs-gets-role-guangxi?utm_source=rss_feed Mon, 19 Aug 2024 10:14:21 +0000 Mark Gong Mark Gong Demand for new homes in the Greater Bay Area rebounded last month after Beijing’s historic measures to rescue the property sector took effect. However, a meaningful recovery in prices will take time amid economic headwinds, property consultancy Cushman & Wakefield said on Tuesday. Total transactions for new houses in the bay area numbered 28,584 in June, nearly 20 per cent more than in May, driven by a boost in demand that followed an unprecedented package of government easing measures. The... https://www.scmp.com/business/china-business/article/3271592/greater-bay-area-home-sales-surged-june-after-property-market-rescue-package?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3271592/greater-bay-area-home-sales-surged-june-after-property-market-rescue-package?utm_source=rss_feed Tue, 23 Jul 2024 23:00:14 +0000 Cheryl Arcibal Cheryl Arcibal UK-based Hanover has picked Hong Kong to set up its Asia-Pacific headquarters, as the passenger information systems provider plans to use the city to market its LED products in the region. Hanover is one of 19 UK-based companies that have either set up shop or expanded their operations in the city in the first half, according to InvestHK, which is responsible for attracting foreign direct investment (FDI). Overall, 322 firms established their business or boosted their presence in the city in the... https://www.scmp.com/business/article/3271169/led-display-maker-hanover-among-19-uk-firms-set-hong-kong-first-half-investhk?utm_source=rss_feed https://www.scmp.com/business/article/3271169/led-display-maker-hanover-among-19-uk-firms-set-hong-kong-first-half-investhk?utm_source=rss_feed Fri, 19 Jul 2024 11:32:18 +0000 After seven years of construction, a massive connector spanning the Pearl River Delta – known as the Shenzhen-Zhongshan link – the newest component of a sprawling infrastructure plan for the Greater Bay Area, is due to open at the end of June, with hopes that it will stimulate closer economic integration in the mega city cluster. The 24km (15 mile) cross-sea span, which will connect the city of Zhongshan with the tech hub of Shenzhen across the Pearl River estuary, comprises two bridges, two... https://www.scmp.com/news/china/politics/article/3267100/chinas-new-shenzhen-zhongshan-mega-link-carries-high-hopes-greater-bay-area-economy?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3267100/chinas-new-shenzhen-zhongshan-mega-link-carries-high-hopes-greater-bay-area-economy?utm_source=rss_feed Wed, 19 Jun 2024 01:00:15 +0000 Hong Kong and the rest of the Greater Bay Area should step up emergency response capabilities to tackle the challenges of extreme weather, the city’s No 2 official has said, as ministers signed a cooperation agreement. Chief Secretary Eric Chan Kwok-ki said on Friday the deal would pave the way for a cross-border response mechanism among the 11 bay area cities which would allow authorities to deploy personnel in emergencies. “The Greater Bay Area is a typical climate-vulnerable region that is... https://www.scmp.com/news/hong-kong/politics/article/3266699/hong-kong-official-urges-better-greater-bay-area-emergency-response-measures?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3266699/hong-kong-official-urges-better-greater-bay-area-emergency-response-measures?utm_source=rss_feed Fri, 14 Jun 2024 13:38:34 +0000 A master plan to better link an affluent and innovative city cluster in China’s Yangtze River Delta (YRD) is in the making, as Beijing is pinning high hopes on coastal economic powerhouse cities to stabilise and shore up economic growth amid headwinds at home and abroad. The newly proposed blueprint, outlining what has been dubbed a Greater Shanghai Metropolitan Area, brings together representatives from Shanghai and 13 cities in the nearby provinces of Zhejiang, Jiangsu and Anhui to expedite... https://www.scmp.com/economy/china-economy/article/3265820/can-rich-china-regions-embrace-greater-shanghai-metropolitan-area-or-it-bridge-too-far?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3265820/can-rich-china-regions-embrace-greater-shanghai-metropolitan-area-or-it-bridge-too-far?utm_source=rss_feed Mon, 10 Jun 2024 02:00:16 +0000 Hong Kong’s finance chief has called for more “open interactions and collaborative innovation” between the bay areas of China and the United States, pointing to interest from local and American companies in exploring each other’s markets for potential clients. Summing up his four-day trip to the US, Financial Secretary Paul Chan Mo-po on Sunday also said “pragmatic topics” were a good starting point for cooperation, referring to memorandums signed with partners in areas such as carbon markets... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3265064/hong-kongs-paul-chan-calls-more-open-interactions-and-tech-collaboration-between-chinese-us-bay?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3265064/hong-kongs-paul-chan-calls-more-open-interactions-and-tech-collaboration-between-chinese-us-bay?utm_source=rss_feed Sun, 02 Jun 2024 06:58:42 +0000 The US and China must lead the way to tackle the climate crisis despite an increasingly competitive relationship, the Chinese ambassador has said, as both countries agreed to a list of commitments at the provincial and local levels during talks in California. Xie Feng, China’s envoy to Washington, made his remarks in a video speech as a slew of agreements were announced on Wednesday at the China-US High-Level Event on Subnational Climate Action in Berkeley. The event was another follow up to... https://www.scmp.com/news/hong-kong/politics/article/3264707/us-and-china-must-take-lead-climate-fight-despite-their-competitive-relationship-top-beijing-envoy?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3264707/us-and-china-must-take-lead-climate-fight-despite-their-competitive-relationship-top-beijing-envoy?utm_source=rss_feed Thu, 30 May 2024 08:18:20 +0000 Hong Kong’s finance chief will visit the US next Monday as part of the first-ever joint delegation with Macau and Guangdong officials to promote business opportunities in the Greater Bay Area. Financial Secretary Paul Chan Mo-po was already on his way to Paris on Wednesday as part of the delegation’s charm offensive in Europe, while the US leg of the tour next week was expected to span four days and include stops in San Francisco and Berkeley in California, the Hong Kong government said. The... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3263682/hong-kong-finance-chief-paul-chan-visit-us-promote-city-and-chinas-greater-bay-area-business-leaders?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3263682/hong-kong-finance-chief-paul-chan-visit-us-promote-city-and-chinas-greater-bay-area-business-leaders?utm_source=rss_feed Wed, 22 May 2024 11:59:55 +0000 Hong Kong and Shenzhen have begun to test cross-border information verification between the two cities, as they take early steps in enabling the exchange of business data across the Greater Bay Area (GBA), starting with the financial industry. The first phase of the pilot trial will focus on the cross-border verification of credit reports by credit reference agencies and commercial banks, according to a statement published on Monday by WeBank, the Shenzhen-based virtual lender providing the... https://www.scmp.com/tech/article/3261620/greater-bay-area-hong-kong-shenzhen-begin-cross-border-credit-checks-pilot-trial-data-transfer?utm_source=rss_feed https://www.scmp.com/tech/article/3261620/greater-bay-area-hong-kong-shenzhen-begin-cross-border-credit-checks-pilot-trial-data-transfer?utm_source=rss_feed Mon, 06 May 2024 13:00:16 +0000 https://www.scmp.com/news/hong-kong/series/3252445/greater-bay-area-5?utm_source=rss_feed https://www.scmp.com/news/hong-kong/series/3252445/greater-bay-area-5?utm_source=rss_feed Mon, 19 Feb 2024 09:14:38 +0000 Hong Kong and other cities in the Greater Bay Area are forging increasingly stronger links among their financial sectors and the southern network should strive to become a beacon for talent to better seize development opportunities, city ministers and Guangdong provincial officials have said. The officials were exploring ways to fine-tune Beijing’s plan to create a cross-border economic powerhouse by linking 11 cities and more than 86 million people on the fifth anniversary of the blueprint on... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3252338/hong-kong-and-other-greater-bay-area-cities-pledge-even-more-cooperation-beijings-cross-border?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3252338/hong-kong-and-other-greater-bay-area-cities-pledge-even-more-cooperation-beijings-cross-border?utm_source=rss_feed Sun, 18 Feb 2024 10:05:08 +0000 Property markets in China’s Greater Bay Area will see an uptick in 2024, as businesses and communities find synergies within the 11-city economic powerhouse which has a GDP of US$2 trillion and a population of 86 million, experts say. While new home sales performance have remained steady for nine mainland cities across the bay area during the past two years, prices dropped marginally as the region, whose GDP exceeds South Korea’s, felt the aftershocks of the Covid-19 pandemic. But these trends... https://www.scmp.com/business/china-business/article/3252196/greater-bay-area-property-market-see-brighter-days-ahead-synergies-build-11-city-bloc?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3252196/greater-bay-area-property-market-see-brighter-days-ahead-synergies-build-11-city-bloc?utm_source=rss_feed Sun, 18 Feb 2024 03:30:14 +0000 An innovation hub that straddles Hong Kong’s border with Shenzhen should be run according to rules adopted in the financial hub, an adviser to Chinese policymakers has said, arguing that only “radical reforms” at the Lok Ma Chau Loop can serve the country’s development needs in face of the West’s economic sanctions. Zheng Yongnian, a professor at the Chinese University of Hong Kong’s Shenzhen campus and board director of the Guangzhou Institute of the Greater Bay Area, made the call on Friday at... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3249965/apply-hong-kong-rules-shenzhen-side-shared-innovation-hub-adviser-chinese-policymakers-says?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3249965/apply-hong-kong-rules-shenzhen-side-shared-innovation-hub-adviser-chinese-policymakers-says?utm_source=rss_feed Fri, 26 Jan 2024 12:52:40 +0000 Hong Kong and Dongguan leaders on Thursday pledged closer links on technology and innovation development as they eye greater collaboration to capitalise on the relative strengths of the two cities in the Greater Bay Area. Hong Kong Chief Executive John Lee Ka-chiu, in his first 2024 appearance outside Hong Kong, called for technology and innovation collaboration between the two cities in a bid to boost high-quality development in the bay area. “Among the cities in the Greater Bay Area which have... https://www.scmp.com/business/china-business/article/3247297/john-lee-calls-hong-kong-and-dongguan-cooperation-innovation-citing-close-ties-between-greater-bay?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3247297/john-lee-calls-hong-kong-and-dongguan-cooperation-innovation-citing-close-ties-between-greater-bay?utm_source=rss_feed Thu, 04 Jan 2024 12:30:18 +0000 Beijing has drawn up a blueprint designed to foster a world-leading business environment in its Greater Bay Area of Guangdong, Hong Kong and Macau. The release of the three-year action plan by the National Development and Reform Commission, the country’s top economic planner, comes as the world’s second-largest economy is grappling with a dip in foreign investment as the economy slows and external de-risking efforts. In the plan, the commission pledged to further ease restrictions for investors... https://www.scmp.com/economy/china-economy/article/3246282/china-unveils-plan-boost-business-environment-greater-bay-area?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3246282/china-unveils-plan-boost-business-environment-greater-bay-area?utm_source=rss_feed Tue, 26 Dec 2023 08:58:16 +0000 Hong Kong’s leader completed a duty visit to Beijing on Wednesday pledging to foster cooperation with mainland Chinese neighbours through the Northern Metropolis mega project and to consolidate the city’s role as a hub for international finance, technology and culture. On the fourth and final day of his annual duty visit, Chief Executive John Lee Ka-chiu visited the country’s top economic planning body after earlier briefing state leaders on Hong Kong’s development. During a closed-door meeting... https://www.scmp.com/news/hong-kong/politics/article/3245789/hong-kong-leader-john-lee-ends-beijing-duty-visit-pledging-boost-greater-bay-area-cooperation?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3245789/hong-kong-leader-john-lee-ends-beijing-duty-visit-pledging-boost-greater-bay-area-cooperation?utm_source=rss_feed Wed, 20 Dec 2023 13:48:43 +0000 Hong Kong’s bridging role in the Greater Bay Area economic powerhouse is pivotal to its integration with the mainland and its future as an international finance hub. It depends on the free flow of information – fundamental to Hong Kong’s own success – and data security. That means overcoming information barriers that could inhibit the GBA’s development. It is good news therefore that Hong Kong and mainland China will launch a pilot scheme this month to enable easier cross-border data transfers... https://www.scmp.com/comment/opinion/article/3245388/deal-data-transfer-boosts-hong-kongs-role-greater-bay-area?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3245388/deal-data-transfer-boosts-hong-kongs-role-greater-bay-area?utm_source=rss_feed Sun, 17 Dec 2023 22:30:16 +0000 China is converging its manufacturing, trade and technology strengths in the Greater Bay Area development zone to spearhead digitalisation, aiming to break through technology curbs from the United States and prioritise growing the digital economy. In a three-year action plan unveiled on Tuesday, China’s southern province of Guangdong pledged to build a so-called Digital Bay Area to provide cross-boundary data services, that would include the special administrative regions of Hong Kong and... https://www.scmp.com/economy/china-economy/article/3242471/chinas-digitalisation-push-seeks-digital-energy-spark-vital-tech-economic-growth-greater-bay-area?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3242471/chinas-digitalisation-push-seeks-digital-energy-spark-vital-tech-economic-growth-greater-bay-area?utm_source=rss_feed Wed, 22 Nov 2023 11:00:15 +0000 Lars Hamer Lars Hamer Hong Kong should strengthen economic and trade ties with Thailand, as well as maintain its close relationship with the nation, city leader John Lee Ka-chiu said during a meeting with the country’s prime minister on Monday. “Hong Kong can serve as an important hub connecting mainland China with other economies and make contributions to promoting regional economic development to achieve mutual benefits,” Lee said in the meeting with Prime Minister Srettha Thavisin. The chief executive, who... https://www.scmp.com/news/hong-kong/politics/article/3237243/thai-prime-minister-hong-kong-meet-business-leaders-officials-bid-promote-country-and-encourage?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3237243/thai-prime-minister-hong-kong-meet-business-leaders-officials-bid-promote-country-and-encourage?utm_source=rss_feed Mon, 09 Oct 2023 00:31:48 +0000 The Hong Kong Science Park opened a new branch in the Futian district of southern Shenzhen on Thursday, marking the latest effort by the neighbouring cities to work together on building a global tech hub. The Shenzhen park, covering 31,000 square meters, currently has 16 companies on board and is aiming at attracting over 150 tech firms to set up their offices, according to the Hong Kong Science Park. “With the new branch, we hope to bring our experience and practices in funding services,... https://www.scmp.com/tech/policy/article/3233755/hong-kong-science-park-opens-branch-shenzhen-neighbouring-cities-move-forward-collaboration-tech-hub?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3233755/hong-kong-science-park-opens-branch-shenzhen-neighbouring-cities-move-forward-collaboration-tech-hub?utm_source=rss_feed Thu, 07 Sep 2023 12:00:13 +0000 China’s Greater Bay Area development zone is of growing interest to Saudi Arabian investors who are looking to tap into the southern economic and business hub that they believe will be “the future of Asia”, according to the consul general of Saudi Arabia in Guangzhou. The geographical location of the Greater Bay Area and its economic contributions to China, coupled with Beijing’s goal of turning it into “the world’s technology centre”, make the region a go-to destination for foreign investors,... https://www.scmp.com/economy/china-economy/article/3228081/chinas-greater-bay-area-future-asia-top-saudi-diplomat-says-investors-can-bet-it?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3228081/chinas-greater-bay-area-future-asia-top-saudi-diplomat-says-investors-can-bet-it?utm_source=rss_feed Tue, 18 Jul 2023 08:00:21 +0000 Infrastructure mega-projects are controversial. They consume nail-bitingly large amounts of taxpayer money, invariably bump into unforeseen technical problems and often inflict environmental harm. They are always completed late and over the budget. And there are always groups who don’t share the project’s vision and will work to block its progress. Such groups, often self-interested, make it difficult for political decision-makers to gauge the largest community interest and weigh the costs and... https://www.scmp.com/comment/opinion/article/3215573/hong-kong-budget-red-regina-ip-not-wrong-question-costly-lantau-tomorrow-vision?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3215573/hong-kong-budget-red-regina-ip-not-wrong-question-costly-lantau-tomorrow-vision?utm_source=rss_feed Mon, 03 Apr 2023 00:15:19 +0000 Hong Kong has historically been a key cornerstone to China’s reform and opening up. As the city turns a new page, for it to serve its residents and the rest of the country at the same time, it must remain the most international, open and pluralistic city on Chinese soil. Indeed, our distinctive mixture of substantial economic freedoms, robust common-law jurisdiction and cosmopolitan ethos has seen this city go from strength to strength. Yet the world we live in today is experiencing an... https://www.scmp.com/comment/opinion/article/3213491/itself-and-china-hong-kongs-only-recipe-success-be-truly-international-city?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3213491/itself-and-china-hong-kongs-only-recipe-success-be-truly-international-city?utm_source=rss_feed Fri, 17 Mar 2023 22:30:09 +0000 Four major Hong Kong insurers including the local units of Ping An Insurance (Group) and China Taiping Insurance plan to introduce a new “one-stop” motor insurance policy covering the city and Greater Bay Area as they expect cross-border traffic to surge under a forthcoming travel scheme. Zurich Insurance and Asia Insurance are also preparing to introduce tailor-made policies for the “quota-free scheme” for motorists travelling to southern Guangdong province via the Hong Kong-Zhuhai-Macau... https://www.scmp.com/business/china-business/article/3211800/driving-greater-bay-area-ping-taiping-poised-offer-one-policy-motor-insurance-coverage-hong-kong?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3211800/driving-greater-bay-area-ping-taiping-poised-offer-one-policy-motor-insurance-coverage-hong-kong?utm_source=rss_feed Tue, 28 Feb 2023 06:02:23 +0000 Hong Kong will constantly benchmark itself against London and New York in its aim to remain as a top international financial centre with Western countries having a substantial stake in it, the city’s financial chief has said. Speaking at a South China Morning Post conference on Monday, Financial Secretary Paul Chan Mo-po also further explained the new capital immigration scheme he introduced in his budget last week, saying it was aimed at enticing some of the world’s wealthiest 5 per cent to... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3211680/revitalised-hong-kong-investor-immigration-scheme-unlike-singapore-policy-aims-entice-worlds?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3211680/revitalised-hong-kong-investor-immigration-scheme-unlike-singapore-policy-aims-entice-worlds?utm_source=rss_feed Mon, 27 Feb 2023 08:41:13 +0000