Over 150 representatives from Chinese state organisations took part in a GBA business matching event held in Beijing yesterday
Greater Bay Area promotional event targets Chinese state investment
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The local governments of the Greater Bay Area (GBA) held a business matching conference in Beijing on 27 July to encourage state-owned enterprises (SOEs) and investment institutions to invest and expand their presence in the region.
More than 150 individuals representing SOEs and investment organisations, business associations, fund companies and industry initiatives participated in the GBA promotional event – jointly organised by Guangdong, Hong Kong and Macao’s commerce and investment departments, as well as the Investment Association of Central State-owned enterprises.
At the conference, Guangdong, Hong Kong and Macao representatives showcased the opportunities in the GBA to the mainland SOEs by discussing the city cluster’s current developments and investment policies.
What are the advantages of doing business in the GBA?
Zhu Xiaojun, the deputy director-general of Guangdong’s Department of Commerce, listed some of his province’s strengths, which included market scale, industrial ecosystem completeness, innovation and business environment.
Meanwhile, Cathy Li, the Constitutional and Mainland Affairs Bureau’s acting deputy commissioner for the development of the GBA, highlighted Hong Kong’s positioning as the GBA’s most international city, as well as its internationally-aligned common-law system and stable financial and risk management systems, which are conducive to business.
[See more: Macao-funded businesses in Hengqin top 8,000, up 72.6% since 2021]
She also discussed Hong Kong’s advantages in areas such as fundraising and financing and professional services, as well as its linkage to the GBA’s extensive industrial chain and the government’s efforts to spur SOE development in the region, as illustrated by the Hetao Hong Kong Park.
Larry Leong, the director of the Macao Commerce and Investment Promotion Institute, spoke about Macao’s strengths as well. He noted that SOEs can leverage Macao’s status as a cooperation platform between China and Portuguese-speaking countries to enter into Lusophone markets.
A roadshow was also held, giving various Guangdong firms from cutting-edge industries the chance to showcase their projects and interact with representatives of Beijing’s investment institutions.
Besides this GBA promotional event, have others been held?
The current business matching conference follows a similar investment promotion session that was jointly held in Suzhou by Guangdong, Hong Kong and Macao in May. That earlier event was focused on attracting investment from the local semiconductor, integrated circuits and biopharmaceuticals industries.
According to the Macao government, the Zhuhai Investment Promotion Service Bureau and Hengqin’s Economic Development Bureau also held a separate promotional event in Beijing on 27 July, with support from the Macao authorities.
The event, which was aimed at encouraging investment into Zhuhai and Hengqin’s electronic information and new material sectors, attracted over 60 representatives from SOEs and Beijing-based firms.
