February 18 marks the fifth anniversary of the unveiling of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) Development Plan. Over the past five years, cities in the Greater Bay Area have seen significant advancements in transportation, customs efficiency, and trade, solidifying the region as a powerhouse of China's modernization.
The GBA is one of the most economically open and vibrant areas in China. Guangdong, as China's leading economic province, consistently accounts for about 20 percent of the country's total imports and exports. Hong Kong, recognized as a global financial, shipping, and trade nexus, ranks among the most competitive cities internationally. Meanwhile, Macao's status as a free port, with its low-tax regime and extensive trade network, places it among the world's most open economies, as per the WTO.
In 2023, trade of the nine mainland cities in the GBA reached an impressive 7.95 trillion yuan ($1.12 trillion), marking a 0.4 percent increase and accounting for 19 percent of the total value of imports and exports in the country.
During the Spring Festival holiday, the Hong Kong-Zhuhai-Macao Bridge, a strategic infrastructure project within the GBA, saw records broken in daily passenger flows. The Zhuhai port of the bridge saw over 144,000 inbound and outbound passenger trips on a single day, a new high since its opening. This bridge, the world's longest bridge-and-tunnel sea crossing, has brought tremendous economic opportunities and benefits to the region.
Innovation is at the heart of the Greater Bay Area's success. The region excels in global patent rankings, leading in tech sectors like electronics, software, and pharmaceuticals. As a pivotal innovation hub, the GBA continues to drive advancements in evolving global industries.
At the 2023 Global Investment Promotion Conference in Guangzhou, 859 projects secured 2.24 trillion yuan in investments. Combined with 2022's 2.5 trillion yuan, the area has attracted nearly 5 trillion yuan through these two events alone, showcasing the GBA's magnetic appeal to investors worldwide.
As the Greater Bay Area celebrates this milestone, it stands as a testament to China's ongoing journey towards modernization and economic excellence.
NewspaperAmigo – Your Global News Buddy 
February 18 marks the fifth anniversary of the unveiling of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) Development Plan. Over the past five years, cities in the Greater Bay Area have seen significant advancements in transportation, customs efficiency, and trade, solidifying the region as a powerhouse of China's modernization.
The GBA is one of the most economically open and vibrant areas in China. Guangdong, as China's leading economic province, consistently accounts for about 20 percent of the country's total imports and exports. Hong Kong, recognized as a global financial, shipping, and trade nexus, ranks among the most competitive cities internationally. Meanwhile, Macao's status as a free port, with its low-tax regime and extensive trade network, places it among the world's most open economies, as per the WTO.
In 2023, trade of the nine mainland cities in the GBA reached an impressive 7.95 trillion yuan ($1.12 trillion), marking a 0.4 percent increase and accounting for 19 percent of the total value of imports and exports in the country.
During the Spring Festival holiday, the Hong Kong-Zhuhai-Macao Bridge, a strategic infrastructure project within the GBA, saw records broken in daily passenger flows. The Zhuhai port of the bridge saw over 144,000 inbound and outbound passenger trips on a single day, a new high since its opening. This bridge, the world's longest bridge-and-tunnel sea crossing, has brought tremendous economic opportunities and benefits to the region.
Innovation is at the heart of the Greater Bay Area's success. The region excels in global patent rankings, leading in tech sectors like electronics, software, and pharmaceuticals. As a pivotal innovation hub, the GBA continues to drive advancements in evolving global industries.
At the 2023 Global Investment Promotion Conference in Guangzhou, 859 projects secured 2.24 trillion yuan in investments. Combined with 2022's 2.5 trillion yuan, the area has attracted nearly 5 trillion yuan through these two events alone, showcasing the GBA's magnetic appeal to investors worldwide.
As the Greater Bay Area celebrates this milestone, it stands as a testament to China's ongoing journey towards modernization and economic excellence.
