KPMG Insights: Greater Bay Area Update

By 2022, the framework for an international first-class Greater Bay Area (GBA) and world-class city cluster should be essentially formed, leading to a more interconnected Pearl River Delta region, as highlighted in last night’s announcement by China’s central government authorities.  
 

The Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area (the “Plan”) also emphasizes the importance of building on the four core cities of Hong Kong, Macao, Guangzhou and Shenzhen as core engines for regional development, continuing to leverage their comparative advantages.
 

KPMG’s view is that the GBA’s size, pace of economic growth and enhanced connectivity presents significant opportunities for businesses across different sectors, including infrastructure and real estate, financial services, insurance, capital markets, technology, industrial markets, education and healthcare.
 

This update contains an overview of policy developments outlined in the Plan that will facilitate the movement of goods, capital, talents and information across the GBA.
 

Click here to download the full PDF version.