Economic Watch: Why Guangdong-Hong Kong-Macao Greater Bay Area is a must-watch for global businesses

by Xinhua writer Wang Xinyi

HONG KONG, June 7 (Xinhua) -- A delegation of consular corps and business communities in Hong Kong has just concluded a four-day tour of Chinese mainland cities in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), describing the trip as a "compulsory course" for everyone based in Hong Kong.

"The GBA, as an emerging economic brand, has been underreported in terms of its potential and opportunities," multiple consuls general, chamber of commerce leaders, and executives of multinational firms told Xinhua, underscoring the region's untapped potential as a "blue ocean" for innovation and the need for enhanced global promotion to unlock its full economic and strategic potential.

"These cities blend 'sci-fi glamour' with everyday vibrancy -- stunning and unforgettable," members of the delegation echoed this remark when commenting on their visits to Chinese mainland cities of Shenzhen, Guangzhou, and Zhuhai in the GBA.

The GBA's technological landscape is nothing short of revolutionary. Tencent's "Digital Library Cave" in Shenzhen's Nanshan Science Park is a prime example. By harnessing high-definition scanning, gaming-engine rendering, and dynamic lighting, Tencent has recreated an immersive and interactive experience to preserve and share the rich cultural heritage of the Mogao Grottoes.

This not only breathes new life into cultural heritage but also sets a precedent for using technology in education and tourism. As Nasar S A SH Alghanim, consul general of the State of Kuwait in Hong Kong, remarked, such innovations are "transforming how we engage with history and our daily life," highlighting the far-reaching implications for various sectors.

George Leung, CEO of SCOR Reinsurance Company (Asia) Limited., called the tour "beyond expectation," admitting his prior focus on GBA infrastructure projects had overshadowed its cutting-edge sectors like agricultural drones and biopharmaceuticals. "This trip reshaped my understanding. We are now considering recalibrating our business strategies to align with these emerging trends," he said.

Discussing XPeng AeroHT's futuristic flying cars, Johannes Hack, vice chairman of the European Chamber of Commerce in Hong Kong, praised the GBA's "determination and execution in advancing low-altitude economy," calling its "trial-and-error, rapid-iteration model" a template for innovation. "Flying cars turn childhood dreams into reality," he told Xinhua.

The GBA's mainland cities exceed expectations -- rich cultural heritage, vibrant talent, scenic beauty, and policy-supported industries, complemented by Hong Kong's role as an international financial and professional services hub, said Maurits ter Kuile, consul general of the Netherlands in Hong Kong, after testing a game at a studio in Zhuhai's Kingsoft Software Park.

Over four days, the delegation visited cooperation zones in Hengqin, Qianhai, Nansha, and Hetao, focusing on such frontier areas as artificial intelligence (AI), smart driving, robotics, and biopharmaceuticals. Many delegates exchanged contacts, expressed investment interest, or planned follow-up visits, highlighting Hong Kong's role as a gateway for global deals with the GBA and broader collaboration in technologies.

Brian Davidson, British consul general to Hong Kong and Macao, described the tour as an "eyeopener," noting the region's "boundary-breaking" drive. "Innovation, entrepreneurship, and inclusivity here support staggering growth -- they solve current challenges while anticipating future ones," he said.

Philippine Consul General in Hong Kong Romulo Victor M. Israel Jr. emphasized the GBA's ability to translate trends into impactful solutions, citing achievements in information and communications technology, biopharmaceuticals, and AI. "As a 'future economic blue ocean,' the GBA offers endless opportunities. I stand ready to facilitate two-way investment between the GBA and ASEAN (the Association of Southeast Asian Nations)," he said.

The GBA balances visionary planning with practical implementation, said Alfred Cheng Man On, head of corporate banking at Bank Negara Indonesia's Hong Kong branch, adding, "On-the-ground visits clarify how the GBA and Hong Kong reinforce each other, with positive ripple effects across broader regions."

Meanwhile, delegates agreed that the journey to the GBA mainland cities revealed a region that is not only at the forefront of technological innovation but also a paragon of livability, presenting a compelling case for global investment and collaboration.

In Zhuhai, delegates admired coastal landscapes and eco-parks, with Inaki Amate, chairman of the European Chamber of Commerce in Hong Kong, comparing the city to Danang in Vietnam and Malaga in Spain.

"Similarly, GBA mainland cities offer a work-life balance that drives innovation and attracts talent," Amate told Xinhua, noting "the GBA together as a global brand must be elevated collaboratively."

He encouraged the Hong Kong business community to leverage its financial and legal expertise to help mainland's GBA firms "go global," while encouraging European investors to tap into GBA innovation sectors and support reciprocal ventures like GBA factories in Europe to boost employment and brand presence. Enditem