Jonathan Choi:
Deepen all-round and in-depth cooperation in the Greater Bay Area

Jonathan Choi, the Chamber’s Chairman, pointed out that a range of innovative policies and cooperation mechanisms have been implemented since the release of the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area five years ago. These initiatives have spurred growth in the region and offered new, unprecedented opportunities for Hong Kong’s business community. The Third Plenary Session of the CPC Central Committee stated the need to deepen cooperation in the Greater Bay Area. Additionally, the latest Policy Address put forward several policies aimed at fostering regional integrated development. Together with the newly signed Agreement Concerning Amendment to the CEPA Agreement on Trade in Services, they will bring broader development space for Hong Kong. The research provides a systematic analysis of the overall planning and future development of the Greater Bay Area, which would help foster all-round and in-depth cooperation in the region and unlock further developmental prospects. I believe that the research report can serve as a practical guide for Hong Kong companies seeking to initiate or deepen their operations in the region.

Tse Yung-hoi:
Grasp the opportunity to help Hong Kong companies enter the Greater Bay Area

Tse Yung-hoi, the Chamber’s Vice-Chairman and Consultant to the Guangdong-Hong Kong-Macao Greater Bay Area Committee, said that the research report is directed towards two main objectives: Firstly, to review the strategic positioning and developmental framework of the Greater Bay Area, assess the execution of its plan, and recommend policies for capitalizing on opportunities in the region while enhancing collaboration with Mainland cities. Secondly, to provide strategic recommendations for Hong Kong companies entering the Greater Bay Area market. These include offering operational and actionable recommendations through case studies, interviews, and focus group discussions, aimed at helping Hong Kong companies penetrate the Greater Bay Area market, establish a favorable business climate, optimize tax strategies, fortify talent strategies, deepen industry synergy, and escalate innovation.

Fang Zhou:
Macro strategies for driving Greater Bay Area’s future development

Fang Zhou, Research Director of the One Country, Two Systems Research Institute, said that Hong Kong’s strategy to capitalize on the future development opportunities in the Greater Bay Area primarily hinges on three basic strategic elements: Firstly, it aligns with the long-term developmental needs of Hong Kong’s economy and society. Secondly, it facilitates integration with the national development strategy. Thirdly, it aims to further promote breakthroughs and innovations within the Guangdong-Hong Kong cooperation framework, fostering regional collaborative growth. He put forward six policy recommendations to effectively harness and leverage the Greater Bay Area’s development resources. These include coordinating strategically with the Northern Metropolis, enabling new industrialization, developing in-depth cooperation zones in the Golden Inner Bay, establishing a joint investment and management model between the HKSAR Government’s investment company and its Mainland counterparts, creating the “CEPA special zone” for advanced manufacturing, and developing high-end tourism and leisure projects.

Maggie Lee:
Multi-dimensional recommendations for corporate development

Maggie Lee, KPMG China’s Deputy Head of Greater Bay Area Strategy and Development Office, identified several challenges faced by companies in the Greater Bay Area, including capital, talents, taxation, fiscal subsidies, industry synergy, and market expansion. She recommended formulating coping strategies across eight areas. These include building an internationalized business environment, optimizing tax strategies, strengthening talent strategies, implementing targeted fiscal subsidies, facilitating cross-border capital flow, broadening international market reach, deepening industry synergy in the Greater Bay Area, and smoothening cross-border data flow channels. (31/10)