The findings of a survey, released yesterday by the China Council for the Promotion of International Trade (CCPIT) during a press conference about the two-day “Business Conference on Guangdong-Hong Kong-Macao Greater Bay Area Development”, show that the international business community was “optimistic” about the development of the Greater Bay Area (GBA), with 63.08 percent of respondents expressing “full confidence” in the future development of the GBA, and more than 90 percent saying they planned to expand or maintain the scale of investment in the GBA.
Yesterday’s press conference was co-hosted by CCPIT President Zhao Ping, CCPIT Liaison Department Level II Inspector Yang Xiaojun, and Lin Shunjie, chairman of China International Exhibition Centre Group Limited (CIEC), after the event’s opening ceremony at The Venetian Macao in Cotai.
According to the press conference, the international business community has invested “heavily” in the construction of the Greater Bay Area, from more than 30 regions and countries, covering six continents including Asia, Europe, North America and Oceania, while companies participating in the GBA construction are mainly registered in the British Virgin Islands, the Cayman Islands, the Cook Islands, Japan, Singapore, South Korea, the UK and the US. The investment industries include finance, retail, business and service industries, while the investment in Macau mainly focuses on gaming, insurance and banking, accounting for 83.43 percent of the total amount of foreign investment.
The press conference noted that the international business community is optimistic about the GBA development thanks to its location in the in-depth integration area of three economic circles, namely, Guangzhou-Foshan-Zhaoqing, Shenzhen-Dongguan-Huizhou and Zhuhai-Zhongshan-Jiangmen, in addition to the two major “window cities” – Hong Kong and Macau, all of which are backed by the vast economic hinterland and are an important part of China’s unified market.
The findings of the survey, according to the press conference, point out that 58.64 percent, 52.31 percent and 39.13 percent of international business enterprises respectively believe that the “vast Chinese market, superior geographical location and complete industrial system” are the most important factors for their investment in the GBA.
The international business community believes that the three fields with the greatest growth potential in the GBA are the “digital economy, green finance and cultural and tourism industries”, among which Macau’s “tourism+” integration could be the focus of investment by the international business sector, Zhao said, adding that the Macau government has developed the cultural and tourism industry and put forward the concept of “tourism+”, taking tourism as one of the core contents to promote the development of different industries, including “tourism+exhibitions, tourism+sports, tourism+cultural-cum-creative activities, and tourism+e-commerce”, through the Guangdong-Macau In-depth Cooperation Zone in Hengqin, such as by co-organising cross-border cultural, festival and event activities, and developing cross-border “multi-destination” tourism products.
The number of respondents and the timing of the survey were not revealed during the press conference.
China Council for the Promotion of International Trade (CCPIT) President Zhao Ping (from left to right), CCPIT Liaison Department Level II Inspector Yang Xiaojun, and Lin Shunjie, chairman of China International Exhibition Centre Group Limited (CIEC), look on during yesterday’s press conference held after the opening ceremony of the “Business Conference on Guangdong-Hong Kong-Macao Greater Bay Area Development” at The Venetian Macao in Cotai. – Photo: Yuki Lei
