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Greater Bay Areai

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.

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As the initiative marks its fifth anniversary, its steady achievement underlines the importance of more high-level planning between Hong Kong and the other 10 cities to further drive development.

  • Scores of elderly Hongkongers were seen lining up to grab the ‘Octopus – China T-Union Card’ on its launch day
  • Gary Ng, senior economist at Natixis Corporate and Investment Bank, says popularity of new card may stimulate more cross-border spending

Smart technology such as autonomous parking systems and the wide availability of superfast battery charging infrastructure will drive a boom in EV sales over the next five years, according to two of the segment’s leading manufacturers.

Nansha, a district in China’s southern provincial capital of Guangzhou, has been christened as a test bed for the ‘low-altitude economy’, an emerging industry covering unmanned vehicles, particularly drones.

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City’s finance chief and California’s secretary for environmental protection Yana Garcia call for political differences to be put aside at a University of Hong Kong forum.

Hong Kong can bring its technological edge to the table and help launch more Chinese-made EVs to the rest of the world, says Hong Kong’s first academician of the Chinese Academy of Engineering.

Ping An, China’s largest insurer by market capitalisation, is exploring ways to further expand operations in Hong Kong and the Greater Bay Area, its newly appointed co-CEO said.

UK insurer Prudential reported a strong set of results for 2023 driven by higher sales to mainland Chinese visitors as they returned to Hong Kong for better life policies and investment returns.

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A product which allows residents of mainland China to make deposits in Hong Kong has underwhelmed as a route for investment, leaving potential users wishing for more expansive options.

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Hong Kong will play a key role in Janus Henderson’s Asia expansion plan because the city is a portal to China, while the new investment-migration scheme will create demand for investment products, CEO Ali Dibadj says.

Chan says new or expanded firms, together with 30 companies that made similar moves last year, will invest more than HK$40 billion in the city and create 13,000 jobs.

Fosun Pharma will team up with Shenzhen’s government to raise a 5-billion yuan (US$700 million) healthcare fund to invest in start-ups and innovations in cellular biology, genetics and other fields related to biomedicine.

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Just over a quarter of companies in Hong Kong expect to add staff this year, while some 16 per cent expect to cut headcount, KPMG survey shows. Many candidates are eyeing the Greater Bay Area as an alternative.

Transport and logistics secretary Lam Sai-hung says car park, with 1,000 spaces and plans for 6,000, will attract people from nearby cities to city and airport

The government’s recent adjustments are ‘steps in the right direction’, but further relaxations are needed to revitalise the industry, according to the Asian Securities & Financial Markets Association.

Citigroup will use Hong Kong as a hub to expand its wealth management business in the Greater Bay Area and Asia, which is set to become the fastest-growing region globally, according to global wealth head Andy Sieg.

PolyU chief says 2.5 million population of Northern Metropolis will need a hospital, highlights university’s strengths in healthcare and artificial intelligence.

The city has pulled all stops in its budget with the aim of retaining its status as an international asset and wealth-management centre in the face of intensified competition from Singapore and geopolitical tensions between the US and China.