Economic Development

The development potential of the Greater Bay Area is huge. Information about the nine cities in Guangdong Province is gradually circulating in Hong Kong, and many success stories are attracting citizens to travel north. More and more young people from Hong Kong are interested in finding jobs in the Greater Bay Area. Mainland employers are undoubtedly hungry for talent. However, the job market has always been fiercely competitive, with both mainland graduates and international talents from around the world. It is not easy for Hong Kong youth to stand out, and people are concerned about whether they can seize development opportunities and build personal careers.

The epidemic situation in Hong Kong has been recurring, and small, medium and micro enterprises have the most difficult time operating. On the contrary, the situation in the mainland is relatively stable, and foreign capital and large Hong Kong companies have not slowed down their entry into the Greater Bay Area, causing the market center of gravity to shift further north. Hong Kong's small and medium-sized enterprises are flexible and changeable, and many are still trying to transform and innovate in the face of adversity. However, not all small and medium-sized enterprises are able to explore and expand the Greater Bay Area market and find business opportunities. How can the government provide targeted support to help them get out of trouble?

RCEP will come into effect on the first day of 2022, and Hong Kong is seeking to join. In response to the wave of regional liberalization, the Institute of Emerging Markets at HKUST examines the relationship between Hong Kong and Southeast Asia from the perspective of the Greater Bay Area (Note). The following shares their main views, hoping to shed some light on how Hong Kong can leverage its own advantages and bring closer cooperation with partners in the Greater Bay Area and Southeast Asia to achieve win-win outcomes for all parties.

The epidemic has not disappeared, the customs clearance date has not yet been determined, and the anti-amendment chaos has endangered political stability, making rumors of foreign investment withdrawals increasingly rampant. This year's Census and Statistics Department's survey on foreign-funded companies in Hong Kong was released. Although the number hit a new high, the increase mainly came from mainland companies. Companies in the United States, Japan and South Korea all fell, while European companies remained flat. No wonder some people doubt whether Hong Kong's business advantages are enough to attract international investors?

Sino-US relations are not broken through fighting. Biden's China policy is not as tough as Trump's, but he is more active in wooing allies to counter China. The previous export blockade on dual-use technology remains in effect, and US sensitive technology companies will also be subject to scrutiny if they want to operate in China. The Guangdong-Hong Kong-Macao Greater Bay Area is the locomotive of China's technological innovation and has suffered greatly. However, the San Francisco Bay Area, which also focuses on high-tech fields, has also been implicated, and numerous foreign investment plans have been stalled. The Guangdong-Hong Kong-Macao Greater Bay Area is a platform for opening up to the outside world, and foreign investment participation is particularly important. As the official strategic space becomes increasingly narrow, how do the American business community and the public view the development of the Greater Bay Area?