Hong Kong urged to deepen bay area ties, help region’s enterprises with global expansion

Recent bay area trade show that drew 2.26 trillion yuan in investments is a sign of revived investor confidence, observers say

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The 2024 Greater Bay Area Global Investment Promotion Conference held in Guangzhou generated 1,933 deals. Photo: Handout

Published: 7:35pm, 12 Nov 2024Updated: 8:19pm, 12 Nov 2024

Hong Kong should deepen collaboration with the Greater Bay Area and assist enterprises from the region to break into international markets, analysts have said following a trade show in Guangzhou that drew 2.26 trillion yuan (HK$2.42 trillion) in investments.

The 2024 Global Investment Promotion Conference for the Guangdong-Hong Kong-Macau Greater Bay Area show held last week generated 1,933 deals.

Observers said the figures reflected a revival in foreign investor confidence in the bay area including Hong Kong, in the wake of Beijing restoring an open-door policy to foreign business during the third plenum in July.

Chinese Minister of Commerce Wang Wentao emphasised the strategic importance of the Greater Bay Area’s development during the event, saying his ministry will review lessons and achievements over the past five years and enhance measures to support businesses.

The ministry would continue to work closely with Guangdong, Hong Kong and Macau to increase openness, attract foreign investments, and facilitate regional cooperation, he added.

“This will advance the transformation of the Greater Bay Area into a premier bay area and a globally recognised urban cluster,” Wang said.

The bay area is Beijing’s plan to link Hong Kong and Macau with nine Guangdong provincial cities to form an economic powerhouse.