China sets development objectives for Greater Bay Area

Global Business

File: Hong Kong (VCG)

By 2022, the framework should essentially be formed for an international first-class bay area and world-class city cluster that is vibrant and highly innovative with an optimized industrial structure, a smooth flow of various factors and a pleasant ecological environment, according to a plan for the Greater Bay Area development.

Chinese authorities on Monday unveiled the outline development plan for the Guangdong-Hong Kong-Macao Greater Bay Area, aiming to develop the region into “a role model of high-quality development.” The area is home to some 68 million people and has a combined gross domestic product of about $1.5 trillion, roughly equivalent to that of Australia or South Korea.

The plan was released by the Central Committee of the Communist Party of China and the State Council.

Graphic: China’s Great Bay Area

It has 11 chapters, namely the background of the plan, the overall requirements, the spatial layout, developing an international innovation and technology hub, expediting infrastructural connectivity, building a globally competitive modern industrial system, taking forward ecological conservation, developing a quality living circle for living, working and traveling, strengthening cooperation and jointly participating in the Belt and Road Initiative, jointly developing Guangdong-Hong Kong-Macao cooperation platforms, and the implementation of the plan.

It says that by 2022, the combined strength of the Greater Bay Area should increase substantially, the cooperation among Guangdong, Hong Kong and Macao should be deepened and broadened, and the internal driving forces for development should be further enhanced in the region.

By 2035, the Greater Bay Area should become an economic system and mode of development mainly supported by innovation, with its economic and technological strengths vastly increased and its international competitiveness and influence further strengthened, according to the plan.

In the meantime, the markets within the Greater Bay Area should basically be highly connected, with very effective and efficient flow of various resources and factors of production; the coordination of regional development should remarkably improve, with the influence on neighboring regions further strengthened, says the plan.

The people should become wealthier; the level of social civility should reach new heights, with cultural soft power demonstrably strengthened, Chinese cultural influence broadened and deepened, and exchange and integration between different cultures further enhanced, it says.

Meanwhile, the levels of conservation and efficient use of resources should be significantly improved, the ecological environment should be effectively protected, and an international first-class bay area for living, working and traveling should be fully developed.

China to develop Greater Bay Area into int’l innovation, technology hub

According to the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area, efforts will be made to build an open community for coordinated innovation in the region, develop quality innovation and technology carriers and platforms, and enhance the environment for innovation in the region.

In these regards, the plan calls for measures to strengthen cooperation in innovation and technology, enhance building of basic innovation capacity, enhance the in-depth integration of industries, academia and research, as well as deepen reform of innovation systems and mechanisms in the region, promote the commercial application of technological achievements, and step up the protection and exploitation of IP.

The plan requires measures to implement the innovation-driven development strategy in great intensity, deepen innovation cooperation among Guangdong, Hong Kong and Macao, and build an open community for coordinated innovation in the region that encompasses integrated development.

It also requires efforts to pool together international innovation resources, optimize the innovation system and policy environment, focus on enhancing the capability for the commercial application of technological achievements, and develop a focused area of global technological innovation and a major source of emerging industries.

The plan, an important outline document guiding the current and future cooperation and development of the Greater Bay Area, covers the period from now to 2022 in the immediate term and extends to 2035 in the long term.

Xiaochen Zhang on China’s Greater Bay Development Plans

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