Investing in China's Greater Bay Area - Preview

C hina B riefing · Issue 194 · February 2021 2 Introduction Reference China Briefing and related titles are produced by Asia Briefing Ltd., a wholly owned subsidiary of Dezan Shira Group. Content is provided by Dezan Shira & Associates. No liability may be accepted for any of the contents of this publication. Readers are strongly advised to seek professional advice when actively looking to implement suggestions made within this publication. For queries regarding the content of this magazine, please contact: editor@asiabriefing.com All materials and contents © 2021 Asia Briefing Ltd. Asia Briefing Ltd. Unit 507, 5/F, Chinachem Golden Plaza, 77 Mody Road, Tsim Sha Tsui East Kowloon, Hong Kong. www.asiabriefing.com www.dezshira.com www.aseanbriefing.com www.india-briefing.com www.vietnam-briefing.com www.silkroadbriefing.com www.china-briefing.com Credits Publisher / Asia Briefing Media Ltd. Editor / Melissa Cyrill Contributors / Dorcas Wong, Guilherme Campos, Qian Zhou, and Zoey Zhang Designers / Aparajita Zadoo, Ha Ngoc Anh Thu www.russia-briefing.com The Greater Bay Area (GBA) initiative is an ambitious plan to integrate and transform nine mainland cities in the Pearl River Delta and two special administrative regions – Hong Kong and Macao – into an international bay area that will rival other such world-class city clusters like the New York, San Francisco, and Tokyo bay areas. Since the formulation of the GBA Initiative in 2017, business communities have placed high expectation on the coordinated development among GBA cities, as the removal of barriers that limit the movement of trade, capital, information, and people—coupled with targeted government policies—will allow various industries to flourish. Although specific details of the implementation of the GBA Initiative have not fully been established, the past two years have witnessed many significant policy developments. For example, on the financial services front, Hong Kong is working closely with mainland authorities to successfully implement a number of facilitation measures set out in the GBA Outline Development Plan, including remote onboarding for mainland bank account opening, promoting the usage of Hong Kong digital wallets in the GBA, as well as the successful launch of the Wealth Management Connect. In this issue of China Briefing magazine, we demonstrate the opportunities in the Greater Bay Area from multiple perspectives. We begin by presenting an overview of the GBA, and illustrate the role played by its major cities. Then, we summarize the major incentives offered in the region, before exploring the improving connectivity in the financial sector. Finally, we analyze Hong Kong’s role as a global financial hub, which will be further strengthened under the Greater Bay Area Outline. We hope this magazine helps your business build up a clearer understanding of this dynamic region and better prepare for the potential growth opportunities brought by regional integration and cooperation. If you and your company want to learn more about investment opportunities in the Greater Bay Area, please get in contact with Dezan Shira & Associates. For more information, please email us a t china@dezshira.com . With kind regards, Alberto Vettoretti ALBERTO VETTORETTI Partner Dezan Shira & Associates