HONG KONG CONNECT

February 2019

Promulgation of the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area

The Central Government promulgated the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area (Outline Development Plan) on 18 February 2019, which sets out the directions guiding the development of the Guangdong-Hong Kong-Macao Greater Bay Area - a key development strategy in the country's reform and opening up in the new era. The Greater Bay Area comprises nine cities in the Guangdong Province and two Special Administration Regions (SARs) of Hong Kong and Macao. The Outline Development Plan clearly provides that the objectives of the development of the Greater Bay Area are to promote co-ordinated economic development in the Greater Bay Area, leverage the complementary advantages of the three places, and develop an international first-class bay area for living, working and travelling.

	According to the Outline Development Plan, Hong Kong, Macao, Guangzhou and Shenzhen are identified as core cities, as well as core engines for driving regional development. The four cities will leverage their comparative advantages and strengthen the radiating effect in leading the development of nearby regions.

	The Outline Development Plan supports Hong Kong in consolidating and enhancing Hong Kong's status as international financial, transportation and trade centres as well as an international aviation hub, strengthening Hong Kong's status as a global offshore Renminbi business hub and its role as an international asset management centre and a risk management centre, promoting the development of high-end and high value-added financial, commercial and trading, logistics and professional services, making great efforts to develop the innovation and technology industries, nurturing emerging industries, and establishing Hong Kong as the centre for international legal and dispute resolution services in the Asia-Pacific region. These areas of work are all conducive to developing Hong Kong into an international metropolis with enhanced competitiveness.

	The development of the Greater Bay Area can help identify new areas of growth for Hong Kong and foster the diversified development of its economy and industries. It will also expand the space for living and development of Hong Kong residents.

Hong Kong SAR Government’s future work focus in taking forward the development of Greater Bay Area

Speaking at a symposium on the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area on 21 February 2019, the Chief Executive of HKSAR, Mrs Carrie Lam, said to develop Hong Kong into an international metropolis with enhanced competitiveness, the HKSAR Government shall follow the guiding directions in the Outline Development Plan, proactively co-operating with relevant central ministries, the People's Government of Guangdong Province and the Macao SAR Government in jointly taking forward work relating to the development of the Greater Bay Area. The Hong Kong SAR Government's future work focuses include:

	Consolidating and enhancing Hong Kong's status as international financial, transportation and trade centres as well as an international aviation hub;

	Developing an international innovation and technology hub;

	Expanding the scope of development for sectors in which Hong Kong's strengths lie;

	Strengthening infrastructural connectivity;

	Fostering youth innovation and entrepreneurship; and

	Fully utilising Hong Kong's international connections and networks to promote the Guangdong-Hong Kong-Macao Greater Bay Area overseas and attract capital and talents to the Greater Bay Area.

Learn more here about the Outline Development Plan, Hong Kong SAR Government’s press release welcoming the Outline Development Plan, the speech of the Chief Executive of HKSAR at the Symposium on the Outline Development Plan and the press release of Hong Kong SAR Government on the Symposium on Outline Development Plan.