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Build Multi-pronged Cooperation Platforms for Integrated Development of Guangdong-Hong Kong-Macao Greater Bay Area (No.193, 2020)
2020-09-18
By Liu Yunzhong, Research Team on “The Promotion of Integrated Regional Development: Focuses, Difficulties and Strategies”, Department of Development Strategy and Regional Economy, DRC
Research Report, No.193, 2020 (Total 5937) 2020-7-27
Abstract: The major issue relating to the development of Guangdong-Hong Kong-Macao Greater Bay Area (GBA) is the stark institutional difference within the area: there are three customs zones, three currencies and three law systems within GBA as defined by the “one country, two systems” policy. Besides, GBA has Hong Kong, Macao, Guangzhou, Shenzhen and some other cities with important position in the world plus a complicated spatial flow structure. The number of floating population on working days between Hong Kong and city clusters in Yangtze River Delta is far larger than that between Hong Kong and city clusters in Pearl River Delta. To design integrated development of GBA, the government needs to take both regional economy and global economy into account. On the regional economics side, it is necessary to narrow the regional development difference while bringing the advantages of different regions into full play to shape a new type of merged culture. On the global economics side, breakthroughs need to be made in the coordination of policies and systems for currencies, trade, judicature and administration. Therefore, multi-pronged and multi-functional platforms for cooperation with a wide coverage need to be established in different cities in a bid to promote GBA’s integrated development.
Keywords: Guangdong-Hong Kong-Macao Greater Bay Area, cooperation platform, integration
