"China's next big pen"

The website of Royal Elkano Institute of Spain July 28, original title: Guangdong, Hong Kong, Macao Greater Bay Area: China's "next big conclusion".

Hong Kong media define the planning of the Guangdong -Hong Kong -Macao Greater Bay Area as the "next big conclusion" of China. But outside Asia, few people know their true meaning.

The Greater Bay Area is one of the most striking plans in the global economic arena, and it is part of China ’s efforts to become a action of a strong science and technology country. China plans to turn the region into a new engine of growth and innovation, so that the local GDP will reach the scale of Germany in less than 20 years, and set standards for advanced industries such as 6G, artificial intelligence, fintech, smart cities, robots and biotechnology. Essence

This is the continuation of China's successful story policy. Shenzhen is the first economic zone in China, setting a model for other similar tests in the country and creating a Chinese economic miracle. Forty years after the reform and opening up, China once again bet on the connection between Hong Kong-Shenzhen-Guangzhou to promote itself to enter the next stage of development and become a completely developed economy. To this end, the Greater Bay Area strives to achieve several key goals at the same time. On the one hand, China's economic growth has slowed down and the population is rapidly aging. This is a dangerous situation. China knows this very well and tries to avoid this situation by promoting the development of high value -added industries and promoting overseas projects. On the other hand, Hong Kong and Macau can further interpret the relationship between the two and Mainland China in South China. Completely realizing this vision is expected to completely change the area of ​​the area.

The Greater Bay Area planning involves promoting integration in many fields: infrastructure, legislation, taxation, work permit, company establishment and securities transaction interoperability. In terms of infrastructure, the key goal is to achieve the "1 hour life circle". Among them, some major projects have been completed, and the Hong Kong -Zhuhai -Macao Bridge and the Guangzhou -Shenzhen -Hong Kong high -speed rail are iconic examples. Financial services are another key development area. At the end of last year, the People's Bank of China signed a memorandum with the Hong Kong HKMA to provide a one -stop platform, allowing financial institutions and technology companies to carry out pilot projects in Hong Kong and the Mainland. Promoting entrepreneurship and STEM education (science, technology, engineering and mathematics) is another pillar, especially among young people. Some of the most striking future development involving projects related to innovation, such as the "Luo Mazhou River Hangshen Innovation and Science and Technology Park" jointly managed by relevant departments of Hong Kong and Shenzhen.

China is likely to successfully turn the Greater Bay Area into a more coordinated whole and stimulate growth and innovation in the process. Obviously, the plan will have a significant impact on the global economic pattern and play a key role in China's 21st century overall strategy.

Author Afangso Balestros, translated by Wang Huicong

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