Greater Bay Area Focus
- Market Focus
- Hong Kong Focus
Why Greater Bay Area?
The Wealthiest Urban Clusters of China
The Greater Bay Area consists of the two Special Administrative Regions of Hong Kong and Macao, and the nine municipalities of Guangzhou, Shenzhen, Zhuhai, Foshan, Huizhou, Dongguan, Zhongshan, Jiangmen, and Zhaoqing in Guangdong Province.
The Greater Bay Area (GBA) – a region in Southern China that comprises two Special Administrative Regions and nine municipalities in Guangdong Province covering a total area of 56,000 km2 with approx. 70 million population and an aggregate GDP of US$1.5 trillion at the end of 2017 – is an initiative that has great significance in China’s development blueprint.
The GBA blueprint was revealed in February 2019 and details the concepts of how to transform the eleven cities into a global economic powerhouse. The blueprint touches upon encouraging governments in Hong Kong, Macao, and Guangdong to strengthen communication and cooperation with each other, and promoting the idea of cross-border collaboration. Hong Kong, Macao, Shenzhen and Guangzhou would be the key cities and core engines in GBA to lead regional development and reform as well as the driving forces for innovation.
The development of the Greater Bay Area is accorded the status of key strategic planning in the country's development blueprint, having great significance in the country's implementation of innovation-driven development and commitment to reform and opening-up.
Average GDP per capita more than double the China average
12% of China's GDP
2.6 times as big as New York Metropolitan Area
12th largest economic entity in the world
9 times as many people as in San Francisco Bay Area
Consumers spending almost 30% of their income on daily expenses
The consumer market expected to double by 2025
GBA Cities
Area: 1,110 Km2
Population: 7.47 million
GDP: US $346.59 bn
Per-capita GDP: US $46,325
Area: 33 Km2
Population: 0.68 million
GDP: US $24.33 bn
Per-capita GDP: US $35,714
Area: 1,997 Km2
Population: 17.56 million
GDP: US $401.17 bn
Per-capita GDP: US $22,846
Area: 7,434 Km2
Population: 18.68 million
GDP: US $362.73 bn
Per-capita GDP: US $19,422
Area: 1,736 Km2
Population: 2.44 million
GDP: US $50.48 bn
Per-capita GDP: US $20,693
Area: 1,784 Km2
Population: 4.42 million
GDP: US $45.69 bn
Per-capita GDP: US $10,342
Area: 2,460 Km2
Population: 10.47 million
GDP: US $139.91 bn
Per-capita GDP: US $13,367
Area: 3,798 Km2
Population: 9.50 million
GDP: US $156.82 bn
Per-capita GDP: US $16,509
Area: 14,891 Km2
Population: 4.11 million
GDP: US $33.51 bn
Per-capita GDP: US $8,147
Area: 11,347 Km2
Population: 6.04 million
GDP: US $61.21 bn
Per-capita GDP: US $10,129
Area: 9,507 Km2
Population: 4.80 million
GDP: US $46.41 bn
Per-capita GDP: US $9,672
Source: Census and Statistics Department of Hong Kong, Statistics and Census Service of Macao, the statistics bureaux of the relevant PRD cities, HKTDC
CW's Greater Bay Area Focus
For the past years, CW Group has been cultivating good relationship with government entities in Hong Kong, Shenzhen, Guangzhou and Zhuhai as well as collaborating with foreign chambers and working closely with our strategic partners in the GBA. We have developed a strong GBA presence with our headquarter in Hong Kong and our China offices strategically located in Shenzhen and Guangzhou.
As your trusted advisor, CW can assist your enterprise or business to set foot in the GBA via Hong Kong as a gateway to the Chinese market and conversely help Chinese companies in the GBA to go global with our extensive Mainland and International network.
With the ever-changing and complicated regulatory environment in China, our strategic partnership with Z&T Law Firm in Guangzhou provides legal consultancy services such as IP consultation, drafting business contracts, labor relations management and more. All in all, CW brings a one-stop solution to our clients and foreign enterprises planning to capture the tremendous opportunities introduced by the GBA Initiative.
Our China Consultancy Team (CCT), a team of multinational, multilingual and experienced professionals with accounting advisory and consulting capability, offers practical insights to help our clients make better judgement with their investment and expansion plan.
Insight
Update Articles & News
CW Promoting HK 2022-23 Budget in the Spanish and Portuguese-Speaking countries
On 25 March 2022, CW held a live streaming session highlighting the Hong Kong 2022-23 Budget for Latin American companies. Our colleagues Delilah Li (Senior Manager, Greater China), Victor Herrera (Latam Focus), and Kemelly Vera (Brazil Focus) hosted the live session. Below are the key takeaways from the Hong Kong 2022-23 Budget highlighted in our […]
Hong Kong Budget for Fiscal Year 2022-23 During a Critical Time
On 23 February 2022, Hong Kong’s Financial Secretary, the Hon Paul MP Chan, delivered the 2022-23 Budget Speech. Mr. Chan expects Hong Kong to have a surplus of HK$18.9 billion for 2021-2022 and a deficit of HK$56.3 billion for 2022-23, but the fiscal reserves will gradually rebound to over HK$1 trillion from 2023-24 to 2026-27. […]
