Hong Kong, a highly open and international city in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA thereafter), is an international financial, shipping, trade center, and aviation hub. Its professional services are world-renowned. Coupled with the dual advantages of “one country, two systems,” Hong Kong plays a vital role in the development of the GBA.
A few days ago, Chief Executive Lee Ka-chiu and Hong Kong Special Administrative Region (HKSAR thereafter) representatives had close exchanges with the mainland. During a symposium with National People’s Congress representatives in Hong Kong, Lee Ka-chiu remarked, “Hong Kong has fully opened up with the mainland and reconnected with the world.” Hong Kong is now poised to integrate into the national development strategy and contribute greatly to the high-quality development of the Greater Bay Area.
Recently, the HKSAR government announced the 2023/2024 fiscal budget plan, predicting that Hong Kong’s economy will rebound significantly in 2023, with a real annual growth rate between 3.5% and 5.5%. Hong Kong, a central GBA city, is one of China’s most developed and highly-open cities. At the beginning of the new year, Hong Kong’s exchange with the mainland and the world has fast returned to normal, and the overall economic climate has also improved. As the national economy moves towards high-quality development and maintains reasonable growth, other emerging economies in the Asian region will also continue to experience rapid growth, presenting many opportunities for Hong Kong's future development.
Huge Potential in the GBA Boosts Vast Development in Hong Kong