Hong Kong leads Greater Bay Area in finance, logistics and tourism, index shows

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City also tops the charts in culture and sports, according to an index by Our Hong Kong Foundation (OHKF) and Dah Sing Bank

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A visual representation of the Greater Bay Area at the Nansha Planning Exhibition Hall in Guangzhou on June 11, 2024. Photo: Eugene Lee

SCMP Reporter

Published: 4:00pm, 5 Nov 2024

Hong Kong is the most competitive city in the Greater Bay Area in three of six critical industries, according to an index that compares the relative advantages of the southern Chinese region’s 11 cities.

Hong Kong tops the charts for financial services, trade and logistics, as well as culture, sports and tourism, according to the inaugural GBA Industry Development Index compiled by Our Hong Kong Foundation (OHKF) and Dah Sing Bank. The remaining three industries are innovation and technology, manufacturing and as well as construction and real estate.

Hong Kong is ranked top in finance with a score of 82.6, due to the city’s globalised market, a well-developed talent pool and supportive policies that connect mainland China with the world, according to the index. Shenzhen, the home of Ping An Bank, ranked second in financial services with 77.5, followed by Guangzhou with 66.2, Foshan with 53.5 and Dongguan with 53.2, according to the index.

“Hong Kong should actively integrate into the overall development [with mainland China], fully leverage its unique role, uphold common law and maintain international professional standards under the principle of one country, two systems,” said OHKF’s president Jane Lee during the launch of the index. “Hong Kong should seek new opportunities and foster complementary advantages with other [bay area] cities, creating synergies and driving industrial transformation.”

Our Hong Kong Foundation’s president Jane Lee (centre) and Dah Sing Bank’s vice-chairman Harold Wong (second left) during the launch of their industry development index at the Conrad Hotel in Admiralty on November 5, 2024. Photo: SCMP

Hong Kong remains the most competitive city for trade and logistics in the bay area, with a score of 83 due to its status as a free port and China’s sole common law jurisdiction, even though its container throughput fell out of the list of the world’s 10-busiest ports last year.