The Greater Bay Area (GBA) continues to gain momentum as a landmark initiative, with significant potential to shape the future of the region. The close collaboration between the respective governments in the region aims to promote the free movement of capital, goods and people, and to create an ideal place for living, working and travelling.
KPMG China has partnered with HSBC and the Hong Kong General Chamber of Commerce (HKGCC) to launch its second annual survey on the GBA, which features business executive insights on the opportunities and challenges, as well as the key drivers for success.
The report surveyed 714 business executives in mainland China, Hong Kong and Macau on their views, and also features in-depth perspectives from a number of companies operating in the region, including MTR, Lai Sun Development, Hongkong International Terminals and Print-Rite Holdings.
The survey results confirm the continued confidence among business executives about the GBA’s opportunities across a number of sectors, with more than three-quarters of respondents expecting the region’s economic growth to exceed that of the rest of China over the next three years.
This optimism about the region’s growth prospects translates into a positive business outlook. Seventy percent of the surveyed respondents expect the GBA to contribute to the growth of their businesses over the next three years, while only two percent indicate it will have a negative impact.
While the GBA is expected to create business opportunities across all sectors, the survey respondents identified technology and innovation, trade and logistics and financial services as the three key sectors to benefit the most. The report examines the potential opportunities and key growth drivers in these sectors in greater detail.