Riding GBA's Fast Train to Growth
THE Greater Bay Area is a business-to-business arrangement that already exists, says Hong Kong's Edward Yau. GBA already accounts for US$1.7 trillion of China's gross domestic product, roughly the size of Australia's total GDP, he says -- and a number expected to reach US$4.6 trillion by 2030 . . .
HONG KONG's Secretary for Commerce and Economic Development, Edward Yau, has offered a "special ticket" to Australian companies to "ride the fast lane of growth" -- the Hong Kong-Macau-Greater Bay initiative.
Yau says the Greater Bay Area (GBA) promises huge potential in coming years as its 11 cities grow their collective economic strength.
In terms of land area, the nine cities plus Hong Kong and Macau constitute only 1% of the terrain of the Mainland, he says. But GBA is already home to 5% of China's population -- and it accounts for 12% of China's GDP and 37% of its national trade.