As global demand grows for culture and heritage-related travel, the Guangdong-Hong Kong-Macao Greater Bay Area, with rich cultural resources and heritages, has great potential for developing tourism, and Hong Kong is well-positioned to play a leading role in driving the trend, business leaders and experts said on Tuesday. They made the remarks at a panel discussion themed “Unlocking Tourism Collaborations through Cultural Sustainability and Heritage Development in the GBA”. The panel discussion was part of the Greater Bay Area Conference, co-organized by China Daily and the Hong Kong Coalition. Hong Kong will emerge from the COVID-19 pandemic as a tourist destination with stronger competitiveness and greater attractiveness, catering better to new demand from global travelers, said Pang Yiu-kai, chairman of the Hong Kong Tourism Board. “Hong Kong remains one of the world’s most vibrant and attractive destinations. The only major difference as we emerge from the pandemic is that we have much more, not less, to offer to global visitors when they return,” he said. “The emergence of the Greater Bay Area has broadened and brightened our horizons and provided us with the opportunities to showcase to the world the richness not only of Hong Kong, but also of a dynamic new region full of diversity, life, history and heritage.” Pang said that a growing trend for global travelers is to seek a higher degree of engagement in their visits, with a greater demand for an immersed cultural and heritage experience. Hong Kong, with a wealth of cultural resources and diverse tourist attractions, is “ideally” positioned to react to such a trend, he said. “We believe Hong Kong is well equipped to be the gateway to the Greater Bay Area, connecting the GBA cities to the world and bringing in this new breed of culture- and heritage-seeking tourists from every continent,” he said. Pansy Ho Chiu-king, group executive chairman and managing director of Shun Tak Holdings Ltd, said culture is one of the most important advantages of the Greater Bay Area, aside from its policy and market advantages. The Lingnan culture forms the foundation on which multicultural societies in the region rest, and binds different places in the Greater Bay Area together, she said. Ho said she has been making efforts to foster cultural exchanges and dialogue between Hong Kong and the world for many years, championing the promotion of Lingnan culture and formulating tourism strategies to invigorate the spirit of the culture. “By emphasizing culture and creativity in our strategies, we can unlock collaboration across the region and ultimately across the wider global tourism economy,” she said. Adrian Cheng Chi-kong, CEO of New World Development Co Ltd, said heritage economics is a new kind of economy, a flourishing trend that embraces not only the physical heritage of the past, but the living heritage of humanity. “As a West-and-East hub for cultural exchange, Hong Kong has great potential to turn the city into a cultural heritage destination for all,” Cheng said. Hong Kong as well as the whole Greater Bay Area are destined to play a significant role in welcoming this new era of a living-heritage economy, as the city is rich with relics of its heritage stories where West and East meet in a fruitful combination, Cheng said, appealing that this heritage should be kept alive for a vibrant and viable future. Cheng also said that opportunities to blend culture, heritage and tourism are immense, particularly in the East-and-West cultural hub of Hong Kong and the wider Greater Bay Area, adding that he expects the advent of a vibrant future for the region as a cultural destination for the world. Han Wangxi, director of the Shenzhen Innovative and Creative Design Development Office, said, “How to realize the creative transformation and innovative development of traditional culture is a major issue in theory and practice, while the revival of history and culture, the enhancement of the city’s vitality and the implantation of diverse cultures all require careful consideration.” Han introduced the Nantou Old Town revitalization project, which places great emphasis on the collection of historical data and research on the ancient town. With the aim of exploring the “cultural heritage of the same clan and origin” of Shenzhen, Hong Kong and Macao, the Nantou historic town project could be restored to a high quality, comprehensive and maximum respect for history, leaving behind Shenzhen’s memory and passing on a thousand-year culture, Han said. Louis Ng, director of the Hong Kong Palace Museum, said, “There has been a shift from tangible heritage-based experiences to more intangible and creative forms of content in recent years.” He said that the tourism industry must grab these new opportunities to deal with the current crisis, and the integration of culture through some technologies is a crucial element of this and will become an important engine for developing a sustainable tourism industry in the future. The Hong Kong tourism industry is facing unprecedented challenges under the global pandemic. It’s time to upgrade tourism products, create new resources and shape a more sustainable and innovative tourism ecosystem, Ng added. Eric Fok, vice-president of Fok Ying Tung Group, highlighted the role sports could play in enhancing national identity and deepening integration between Hong Kong and the Chinese mainland. He took the 2020 Tokyo Olympics as an example. The outstanding achievements that the national team and Hong Kong team made in the Olympics have greatly increased cultural confidence and enhanced national identity among Hong Kong people, stirring up a wave of patriotism, he said. The expected visit of dozens of national athletes to Hong Kong on Friday will further promote integration and understanding between Hong Kong and the Chinese mainland, Fok added. “With the increase of cultural confidence through sports and friendship, we are really able to integrate ourselves and contribute towards the economic growth of the Greater Bay Area,” he said. Contact the writers at sally@chinadailyhk.com

The ability to produce ingenious creations such as those that emerge from the Regional Comprehensive Economic Partnership is what their origin countries have in common — and that’s the common theme that unites Hong Kong and the RCEP’s member states as they orchestrate a collective melody. This is the takeaway from the Greater Bay Area Conference organized by China Daily and the Hong Kong Coalition on Tuesday. Victor Fung Kwok-king, group chairman of the Fung Group, opined that the region has been faced with many overlapping bilateral trade agreements, but each has its own unique definition of what it means to be a country of origin. What is very important is that the RCEP comes up with one common definition for a country of origin, and that is crucial to all practitioners, Fung noted. Therefore, what we should see is the creation of the next generation of global trade, he said, and it is the new World Trade Organization, which can encompass a new multilateral system. As Hong Kong has traditionally played a critical role in the WTO, the metropolis will see a similar role in this new development — in the innovation of the Guangdong-Hong Kong-Macao Greater Bay Area with the RCEP, Fung said. Looking at the whole Asia-Pacific region, Fung said the trading map of Asia is like an hourglass, and at the neck of the hourglass are Hong Kong and the Greater Bay Area. “Hong Kong and the Greater Bay Area will play a crucial role in linking the northern Asian economies to the southern ones,” Fung said, adding that he believes the “north-south flows within Asia” will be one of the most important flows in the world in the next decade. “We’re right in the middle of intermediating in this,” he stressed. Indeed, an inspection of the RCEP map reveals that Hong Kong, yet to be officially part of the RCEP, sits right in the middle of the member regions, remarked Jonathan Choi Koon-shum, chairman of the Guangdong-Hong Kong-Macao Bay Area Entrepreneurs Union. Hong Kong is internationally recognized for being an open, free economy, which is showcased in its valued presence and leverage in the Greater Bay Area and the ASEAN Free Trade Agreement. The city’s proven record in its economy and geographical vantage point makes the special administrative region well-placed to facilitate both the Chinese mainland market and international market to prosper, through connection and collaboration. This is not hard to decipher, given that “Hong Kong is the biggest investor in the Chinese mainland. Chinese companies want to go international. They can hardly make the jump on their own, but can do easily through Hong Kong. For investors who want to venture in the Greater Bay Area, they come first to Hong Kong,” Choi explained. It’s obvious to see Hong Kong has claimed the role of a “platform” and “springboard” that “brings the two sides (foreign and domestic) together”. This is aligned with the national goal under the 14th Five-Year Plan (2021-25), where China’s economic development is set to pivot on a dual circulation paradigm, Choi added. Choi said that Hong Kong stands a good chance of eventually getting into the RCEP as well as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. The RCEP is larger in scale and influence, with lower tariffs and simpler rules and procedures drawing in more trade partnerships, services and investments, he added. A good thing about RCEP is that there’s less restriction on the rules of service import, compared to Closer Economic Partnership Arrangement, said Witman Hung, principal liaison officer for Hong Kong at the Shenzhen Qianhai Authority. If these rules can be leveraged properly as a means to loosen restrictions on Hong Kong’s service trade with the mainland, it will pay dividends for both sides, he said. David Liao, co-chief executive of the Hong Kong and Shanghai Banking Corp, said the removal of rigid tariff barriers will invite more businesses, investments and capital flows to Hong Kong, which allows the SAR to enrich its expression of success through all forms of opening-up with the Chinese mainland to the international finance market. Liao finds the “chorus”, “unison” and “positivity” brought by the RCEP pretty encouraging. “We believe we’re heading to 50 percent of the global GDP share. Participating in this with tariff barriers removed will drive GDP growth by 1.6 percent and investment growth by 2.7 percent in the coming year.” On top of that, it’s empowering because “it’s dealt with rules of commonality and origins,” Liao reckoned. “It’s like a new language in the region.” A common language lays the foundation for mutual understanding, further spurring unity and coalition, he said. The impact of the RCEP which covers a whole list of countries is bound to be far-reaching. A ripple effect of the RCEP will radiate far and wide. Liao said HSBC strategically pivots to Asia because it is seeing that GDP and investment growth there are sustainable thanks to vigorous economic activities through the RCEP. “It helps us digitalize at scale,” Liao said of the digital journey of a bank to service payments and cash management in trade finance. “It helps when there’s a common language, a consistency and transparency.” Cyberport Chairman George Lam echoed that it’s not just a north-south trade superhighway – it’s also a digital highway. Lam called it the “new export”, taking the examples of Cyberport’s health technology and smart city solutions to help other economies. The government-owned Cyberport is a digital community of about 1,650 startups and technology companies, of which 200 are not local. “Now, it’s important for us to attract another 1,000 (of the) very best companies from the mainland to be here to reach out to the RCEP region,” he said. “We should become the super salesman for the Greater Bay Area and China and make ourselves more attractive to RCEP members by attracting the very best companies in China.” Contact the writers at jenny@chinadailyhk.com

The Guangdong-Hong Kong-Macao Greater Bay Area offers abundant opportunities for Hong Kong’s entrepreneurs and younger generations, backed by preferential policies and market demand, business leaders and experts told the Greater Bay Area Conference on Tuesday. “There are huge opportunities for community-level medical services from the RCEP (Regional Comprehensive Economic Partnership) and the Greater Bay Area, especially in elderly care and the treatment of common chronic diseases,” noted Kevin Lau Chung-hang, founding director of Trinity Medical Centre, a Hong Kong-based healthcare services provider. The huge market demand for healthcare services is created by the region’s rapid economic growth and an aging population, he said. Besides the market potential, the favorable policies of local governments would benefit businesses in the Greater Bay Area in four key areas — infrastructure interoperability, financial interconnection, science and innovation, as well as urban strategy. There are also other advantages, such as tax incentives and land supply, which can substantially encourage companies to expand in the region, said Lau. “It was announced two months ago that drugs, vaccines and machines that are available in Hong Kong can now enter the GBA tariff-free and be subject to the same taxes we pay in Hong Kong. That’s a huge game changer.” He said Hong Kong is uniquely placed for the medical industry to develop, backed by top-notch medical research institutions and the sector’s maturity. According to the latest statistics from Hong Kong’s Food and Health Bureau, the SAR’s healthcare system, by global standards, has higher quality health services and better results at relatively low expenditures, taking up only 6.5 percent of the city’s GDP last year. Patrick Lau, deputy executive director of the Hong Kong Trade Development Council, noted that many startups in the Greater Bay Area have developed rapidly in recent years, taking advantage of the preferential policies of the central and local governments. Citing the case of a successful pet-insurance company operating in the Greater Bay Area, Patrick Lau said the region is a place to find key consumers. “That’s why they want to expand there as the first step.” The Greater Bay Area is also a good place for businesses to tap the Chinese mainland’s huge market. “Many international enterprises are very keen about doing business in more GBA cities and have reached from their Hong Kong and overseas offices amid the pandemic. Everyone is very keen about the opportunities in the region,” he said. Patrick Lau noted that the HKTDC has launched GoGBA — a platform that provides constantly updated policies in the region for entrepreneurs and startups. “The GBA is a very competitive market. That’s why entrepreneurs have to be very well prepared and do adequate research concerning their own business sectors. They need to utilize all the available government incentives and policies to ensure they have a bigger chance of success,” he said. Clarence Ling Chun-kit, director of Kwai Hung Group, urged young people to explore the opportunities in the Greater Bay Area themselves. “You never know unless you experience it yourself, unless you know what’s happening. Sometimes, Hong Kong people are too proud of themselves. I suggest that Hong Kong’s youngsters go across the border regularly and be on the ground to know what’s going on, and contribute to the country.” William Shum, founder and chief executive officer of Memorigin Watch Co, shared his experience in leveraging the market potential of the watch industry in the Greater Bay Area. To many people, the watch industry seems very traditional, he said. But, Hong Kong is a good place that embraces different cultures. “It’s a good window to the global market with the merging of Eastern and Western designs. By merging East and West, we can convince customers (to buy our products) and develop (our company) in the GBA in a very fast and efficient way.” With a blended culture and an open atmosphere, Shum said he introduces different elements into his products. These include not only Hong Kong art or comics, but also well-known Western icons, such as Marvel and Disney. With the combination of Western and Eastern designs, the products can vary to accommodate various customers. “We can contribute to the nation’s 14th Five-Year Plan(2021-25) by using Hong Kong’s unique hub status and also the strengths of other GBA cities to develop the country’s ‘dual circulation’ strategy step by step,” he added. Contact the writers at xinlanzeng@chinadailyhk.com

Hong Kong, not yet an official part of the RCEP, is in a key position to deepen ties among all players of the world’s largest trade deal. A well-integrated Greater Bay Area is the starting point for its new role. Oswald Chan reports. Hong Kong’s status as a regional professional services hub will be strengthened by the Regional Comprehensive Economic Partnership, so the city should launch a global publicity campaign to promote the professional services sector, panelists said on Tuesday at a roundtable conference organized by China Daily and the Hong Kong Coalition. Themed “Embracing New Opportunities: Connecting GBA with RCEP”, the roundtable meeting consisted of a physical conference held in Hong Kong and a virtual event of about 400 people, including government officials, business leaders and academia members to discuss and provide updates on the new opportunities for Hong Kong and the Guangdong-Hong Kong-Macao Greater Bay Area. “Within the RCEP, the Chinese mainland is the biggest market of professional services, and Hong Kong the biggest overseas provider. Hong Kong is extremely well placed to facilitate foreign firms in utilizing the new access to the mainland market under the RCEP,” said Leung Chun-ying, vice-chairman of the Chinese People’s Political Consultative Conference National Committee. In delivering the keynote speech through a pre-recorded video, Leung said that Hong Kong’s professional services of banking, insurance, information technology, logistics, intellectual property and maritime services, including ship registration, marine insurance and legal services, are sought by mainland business enterprises. According to Leung, the total Hong Kong trade in services amounted to $180 billion in 2019, or about 49 percent of the city’s GDP. The RCEP, comprising the 10 ASEAN nations as well as China, Japan, South Korea, Australia and New Zealand, will be the world’s largest free trade agreement that accounts for 30 percent of the world population, one-third of the global GDP, and nearly one-third of global trade. It will come into force on Jan 1. ‘When the boundary check-up points are reopened, albeit partially, Hong Kong has to execute a catch-up plan. We should launch a global publicity campaign to tell our RCEP partners that Hong Kong the super-connector is back in business, and that Hong Kong has a unique role in the GBA,” Leung highlighted. Liu Guangyuan, commissioner of the Ministry of Foreign Affairs of the People’s Republic of China in the Hong Kong Special Administrative Region, said that the country stands ready to work with other countries to develop the advantages of the Greater Bay Area, and enhance its facilitating role in the “dual circulation” economic strategy. “We will strengthen connectivity in the GBA and establish high-standard rules compatible with the RCEP. We will promote hard connectivity of infrastructure and soft connectivity of rules and mechanisms, and accelerate efficient flows of factors to maintain a stable global supply chain, advance economic integration and share benefits across the world,” Liu said during the keynote addresses. The country will take the RCEP as a great opportunity to expand cooperation with relevant countries in the digital economy and green economy, and jointly build demonstration zones for economic innovative development, Li added. “The RCEP is a win-win proposition. While the enhanced investment flow helps developing member states to raise the standard of production and income levels, and thus move up the value chain, developed economies can cut down on overhead by setting up manufacturing bases in the ASEAN states while also catering to those markets,” said Zhou Shuchun — a member of the Standing Committee of the CPPCC National Committee and publisher and editor-in-chief of China Daily — through a pre-recorded video. Hong Kong Coalition Deputy Secretary-General Eva Cheng told panelists during the welcoming remarks: “Hong Kong, as a major metropolis, has always been smart about integration. I offer that the best place to start doing all this is close to home and with neighbors who know and understand. This is why connecting the GBA with the RCEP is of particular significance.” The Greater Bay Area, consisting of nine mainland cities in Guangdong province and the two special administrative regions of Hong Kong and Macao, has a total population of more than 86 million with a combined GDP of nearly $1.67 trillion. Contact the writer at oswald@chinadailyhk.com

As a star-studded delegation of national athletes will meet with the Hong Kong public for three days beginning Friday, a frisson of thrill is anticipated. Will their visit trigger a whirlwind of passion for sports among Hong Kong youth? The answer is likely to be yes because sports is a main attraction in the Guangdong-Hong Kong-Macao Greater Bay Area, and the sporty mood is already there. Probably nobody is in a better position than Eric Fok Kai-shan, vice-president of Fok Ying Tung Group, to give the background of sports in the region. Fok is the vice-chairman of Hong Kong Football Association as well as vice-chairman of the Hong Kong United Youth Association. porting culture has a universal language, blurring barriers of all forms and boasting the power of bonding through tacit mutual understanding and respect. This year, sports have brought hope and spirit to a world languishing in the vestige of the COVID-19 pandemic, through the 2020 Tokyo Olympics, Fok said. “You can see the power of sports in uniting communities and societies,” he said. The agency of sports might well be amplified in the 15th National Games in 2025, which will be jointly hosted by Hong Kong, Guangdong province and Macao. “This is the first-ever national sports games being held in the region since the Greater Bay Area was launched. It is a very forward-thinking move by the central government because through the games, the ‘9+2’ cities can be truly linked up,” Fok said. He said he expects mutual understanding to be fostered when people travel across the border to different GBA cities to watch the games. When sports and youth — the epitomes of dynamic and positivity — come together, there is chemistry, Fok said. The idea of leveraging sports to spark heartfelt interaction can be traced back to as early as 1978, when the first Guangdong-Hong Kong Cup was held to promote the integration and exchange between the two cities, he said. But these days, the focus of Guangdong-Hong Kong communication “has been more on the youth”, Fok said. As the executive chairman of Hong Kong Guangdong Youth Association, he initiated the first session of a Greater Bay Area soccer contest in 2018, the seminal year marking the 40th Guangdong-Hong Kong Cup and coincidentally the 40th anniversary of China’s reform and opening-up. Over 200 young soccer enthusiasts from the three regions ostensibly pit against each other’s teams at the annual GBA youth soccer exchange event, but beneath the surface friendship, affection and collectivism were sown, which is precisely what Fok expects to see. “We hoped the youth to understand more of the nation’s development through participating in the tournaments.” Carrying on this “formula”, Fok said they continue to organize a GBA youth soccer contest in Guangzhou every year, along with GBA basketball tournaments in Dongguan. The young generation today might throw a dismissive shrug to the traditional forms of sports because they are always looking for something that gives them a much bigger adrenaline rush. Attuned to the young people’s tastes, Fok has promoted esports, aiming to launch a Hong Kong esports soccer league, and the winners will represent Hong Kong in esports at the Hangzhou 2022 Asian Games.

Hong Kong should be more proactive in identifying and embracing new opportunities for connecting the Guangdong-Hong Kong-Macao Greater Bay Area to the Regional Comprehensive Economic Partnership to achieve further economic and social progress, panelists said at the Greater Bay Area Conference in Hong Kong on Tuesday. The event, held both online and offline, was organized by China Daily and the Hong Kong Coalition on the theme “Embracing New Opportunities: Connecting GBA to RCEP”. It brought together about 400 people, including government officials, business leaders and academics, to discuss and provide updates on the new opportunities for Hong Kong and the GBA. “The significance of the RCEP to Hong Kong lies not so much in Hong Kong itself being a producer or a consumer, we are too small for that, but in our close relationships with the Chinese mainland, a huge producer, assembler and ultimate consumer. And the GBA is a significant part in this equation,” said Leung Chun-ying, vice-chairman of the Chinese People’s Political Consultative Conference National Committee. “Hong Kong plays an important role in merchandise trade between ASEAN (the Association of Southeast Asian Nations) and the Chinese mainland. Hong Kong should rediscover its role in north-south trade between the mainland and ASEAN,” Leung said in a video speech. The RCEP, comprising 10 ASEAN nations as well as China, Japan, South Korea, Australia and New Zealand, is the world’s largest free-trade agreement, accounting for 30 percent of the world population, one-third of the global gross domestic product and nearly one-third of global trade. It will come into force on Jan 1. Liu Guangyuan, commissioner of the Ministry of Foreign Affairs in the Hong Kong Special Administrative Region, said: “Our office will continue to serve Hong Kong through diplomacy, firmly support Hong Kong in expanding foreign exchanges and cooperation, and give full play to its established advantages. “We are determined to help Hong Kong to engage more deeply with the GBA and the Belt and Road Initiative, so as to contribute our share to deepening the China-ASEAN Comprehensive Strategic Partnership under the RCEP,” Liu said. The GBA, consisting of nine mainland cities in Guangdong province and the two special administrative regions of Hong Kong and Macao, has a total population of more than 86 million and a combined GDP of nearly $1.67 trillion. Addressing the conference in a video speech, Zhou Shuchun, a member of the Standing Committee of the CPPCC National Committee and publisher and editor-in-chief of China Daily, said, “Such fraternal vibes make us optimistic about the future of China’s relationships with her trading partners in the Asia-Pacific. “All of us will have a more nuanced idea about how cities in China’s Greater Bay Area can tap into the supply chain and demand in a wide diversity of markets through the RCEP framework, and lead the way in creating, to quote President Xi Jinping, once again, a unified, open, competitive and orderly market system,” he added. In her welcoming remarks to the conference, Hong Kong Coalition Deputy Secretary-General Eva Cheng said that the GBA is “China’s most powerful economic growth engine”, and added that the “RCEP is the world’s single largest free-trade agreement”. “Our theme is about connecting the two. It is about integrating the largest with the most powerful. Integration is a key word.” oswald@chinadailyhk.com

Editor’s note: The following is the full text of the keynote speech by Liu Guangyuan, commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the HKSAR, at the Greater Bay Area Conference - Embracing New Opportunities: Connecting GBA with RCEP co-hosted by China Daily and Hong Kong Coalition on Nov 30, 2021. The Honorable Vice-Chairman Leung Chun-ying, Publisher and Editor-in-chief Zhou Shuchun, Deputy Secretary-General Eva Cheng, Distinguished guests, Ladies and gentlemen, Good morning! I’m much honored to attend the Fourth Guangdong-Hong Kong-Macao Greater Bay Area Conference co-hosted by China Daily and Hong Kong Coalition. Let me begin by extending warm congratulations on the conference on behalf of the Commissioner’s Office of the Ministry of Foreign Affairs in the HKSAR. In his speech at the opening ceremony of the Fourth China International Import Expo, President Xi Jinping said that “opening-up is the hallmark of contemporary China”. Indeed, over the past two years since the rollout of the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area, the GBA has made great headway in opening-up and cooperation. A superior environment for living, working and traveling is gradually taking shape. The achievements in the development of the GBA so far have fully demonstrated China’s determination to open up wider to the world, displayed advantages of the “one country, two systems” policy, and drawn a new blueprint for sharing opportunities together with the international community. The development of the GBA is a new window for China’s high-level opening-up. China is fostering a new development paradigm featuring “dual circulation”, with the internal circulation serving as the mainstay while the internal and external circulations reinforcing each other, and is committed to building a more market-oriented, law-based and world-class business environment. The GBA, as one of the most open and dynamic region in China, is an “innovation pilot zone” for China to build a new pattern of opening-up. With the steady progress in developing major cooperation platforms such as Qianhai, Hengqin and Nansha, and the introduction of more opening-up measures in trade, finance, science and technology, the GBA has shown to the world that China will not change its resolve to open up wider at a high standard; China will not change its determination to share development opportunities with the rest of the world; and China will not change its commitment to an economic globalization process that is more open, inclusive, balanced and beneficial for all. The GBA is a new benchmark in the successful practice of “one country, two systems”. In the development of the GBA, one fundamental principle has been firmly followed—that is sticking to the very basis of “one country”, leveraging the advantages of “two systems” and acting in strict accordance with the nation’s Constitution and the Basic Law of HKSAR. For Hong Kong and Macao, “one country, two systems” is their biggest advantage, and the GBA is their best stage. The central government attaches high importance to the long-term prosperity and stability of both Hong Kong and Macao as well as the well-being of the people, and has adopted a series of policies to support the two SARs and their cooperation with Guangdong province. The purpose is to harness the strengths of Hong Kong and Macao and respond to the needs of the country. When Hong Kong and Macao further integrate into the overall national development, they could unlock new growth potential and make new achievements, thus unleashing huge dividends of integrated development and contribute to lasting success of “one country, two systems”. The GBA is a new platform for win-win cooperation between China and the rest of the world. The GBA will set up high-standard trade and investment rules, and forge new strengths in international cooperation and competition. Countries around the world are welcome to take part in the region’s development, deepen cooperation, and achieve win-win. At present, the international trade in the GBA has topped RMB 14 trillion, and its FDI value has reached US$103.7 billion. It is home to dozens of Fortune Global 500 headquarters and a growing number of talents both at home and from abroad are being attracted to this emerging global top-tier bay area and world-class city cluster. The GBA has also been recognized as a fertile ground for foreign investment and business in China, a driver for win-win cooperation between China and other parts of the world, and a catalyst for balanced and sustainable growth in the global economy. The theme of this conference, “Embracing New Opportunities: Connecting GBA with RCEP”, is highly relevant today. China practices true multilateralism, firmly upholds the multilateral trading system with the WTO at its core, takes the lead in ratifying the RCEP, and works for an open world economy. Upon its full and effective implementation, the RCEP will become the world’s largest free trade zone that accounts for about 30 percent of the global population, economic output and total exports. This will mark a significant progress in economic integration in East Asia, inject strong impetus into regional and global growth, and is of significant importance to today’s world which is bothered by profound changes and a pandemic--both unseen in a century. In the context of the RCEP, the GBA faces both new opportunities and challenges. To better implement national opening-up measures, promote regional integration, and speed up global economic recovery, we need to focus on three key words. First is “development”. Development is the golden key to solving both global and regional economic and social problems. China stands ready to work with other countries to develop the advantages of the GBA including its sound industrial system and favorable location, and enhance its facilitating role in China’s dual-circulation development strategy. We will deliver on our promise to the RCEP on market opening-up, promote high-quality development of trade and investment, and build a new pattern of integrated development as an open economy. These actions will make development more balanced, coordinated and inclusive, so that the fruits of development could benefit all people in this region and around the world in an equitable way. Second is “connectivity”. The GBA is featured with “one country, two systems and three customs zones”. For the successful development of the GBA, aligned rules, smooth flow of production factors and close ties between people are key cornerstones. We will strengthen connectivity in the GBA and establish high-standard rules compatible with the RCEP. Market access in the GBA will be further eased by implementing a management system of pre-establishment national treatment plus a negative list. What’s more, we will promote “hard connectivity” of infrastructure and “soft connectivity” of rules and mechanisms, and accelerate efficient flow of production factors. These efforts will help maintain a stable global supply chain, advance economic integration and share benefits across the world. Third is “innovation”. The GBA’s development strategy is innovation-oriented. This region boasts a high concentration of factors of scientific and technological innovation as well as exceptional capabilities in R&D and industrial application. The Shenzhen-Hong Kong-Guangzhou science and technology cluster takes second place in a global ranking. China has announced the launch of the China-ASEAN Science, Technology and Innovation Enhancing Program. In the future, we will take the RCEP as a great opportunity to expand cooperation with relevant countries in digital economy and green economy and jointly build demonstration zones for economic innovative development. These measures will enhance the role of the GBA as a player, a contributor and a pioneer in the new round of global technological revolution and industrial innovation. Hong Kong enjoys the strong backing of the motherland, and is a key hub in the Asia-Pacific and a crucial bond of the whole world. As the central city of the GBA and the most international city in the region, Hong Kong enjoys remarkable advantages such as a steady financial market, free flow of capital, a sound legal environment and robust professional services. It has also signed free trade agreements with 13 RCEP economies. Thanks to the National Security Law for Hong Kong and its improved electoral system, Hong Kong has shifted from chaos to stability and prosperity, and has a big role to play in the GBA and China’s new round of opening-up. The positioning of Hong Kong in the 14th Five-Year Plan as an international financial, shipping and trading center and the global offshore RMB business hub will further strengthen Hong Kong’s role as a “super-connector”, and boost the development of Hong Kong and the GBA as a whole. Last week, our Commissioner’s Office, together with the HKSAR government and the Guangdong provincial government, jointly organized a virtual tour to the Greater Bay Area for foreign businesses operating in Hong Kong, which was warmly welcomed and widely received. After the event, foreign business leaders said that they are optimistic about the future of Hong Kong and the GBA as a whole. They will stay in Hong Kong, seize opportunities here, and contribute to the development of the GBA while sharing benefits of China’s high-level opening-up and pursuing faster and better development of their business. Great visions can be realized only through concrete actions. Going forward, our Office will continue to serve Hong Kong through diplomacy, firmly support Hong Kong in expanding foreign exchanges and cooperation, and give full play to its established advantages. We are determined to help Hong Kong SAR to further integrate into the GBA and participate in the “Belt and Road Initiative”, so as to contribute our share to deepening the China-ASEAN Comprehensive Strategic Partnership under the RCEP. I believe, with the joint efforts of all of us, we will certainly reach new heights in the GBA development and China’s reform and opening-up, and also, open a new bright chapter for “one country, two systems”. Finally, I wish this conference a resounding success! Thank you!

For Immediate Release PRESS RELEASE Leaders Explore RCEP Opportunities for Hong Kong and the GBA at 2021 Greater Bay Area Conference HONG KONG, Nov. 30, 2021 — Co-organized by China Daily and the Hong Kong Coalition, the Greater Bay Area Conference was held on Tuesday. The Honorable Mr. C.Y. Leung, GBM, GBS, JP, vice-chairman of the Chinese People’s Political Consultative Conference National Committee, and Mr. Liu Guangyuan, commissioner, the Ministry of Foreign Affairs of the People's Republic of China in the Hong Kong SAR, delivered keynote addresses, which were followed by three panel discussions. The "Greater Bay Area Conference 2021" was held in Hong Kong on Tuesday. The Honorable Mr. C.Y. Leung, GBM, GBS, JP, vice-chairman of the Chinese People’s Political Consultative Conference National Committee, and Mr. Liu Guangyuan, commissioner, the Ministry of Foreign Affairs of the People's Republic of China in the Hong Kong SAR, participated in the event. Under the theme “Embracing New Opportunities: Connecting GBA with RCEP”, the conference explored RCEP business opportunities for Hong Kong and the GBA in the long run and examined the current economic landscape. The conference brought together C-level senior executives from Fortune Global 500 and China 500 companies, think tanks, academics, media and experts from public and private sectors across Asia. In the keynote addresses, CY Leung indicated that Hong Kong is the super-connector of the world. “We are one of the largest global trade hubs for both goods and services. Now we have a new boost. The Regional Comprehensive Economic Partnership (RCEP) is the largest free trade agreement ever forged. As we speak, barriers between Hong Kong and the other cities in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) are being lowered, one after another,” he said. “Therefore, the significance of the RCEP to Hong Kong lies not so much in Hong Kong itself being a producer or a consumer — we are too small at that — but in our close relationships with the mainland of China and a huge producer, assembler and ultimate consumer.” The words that he would borrow today were “more proactively”. Opportunities for Hong Kong to connect the GBA to the RCEP will remain no more than opportunities unless and until we turn them into realities — realities of economic and social progress, he said. Mr. Liu Guangyuan mentioned that the achievements in the GBA have fully demonstrated China’s determination to open wider to the world displayed advantages of the “one country, two systems” policy, and drawn a new blueprint of sharing opportunities together with the international community. Under the RCEP, the GBA faces both new opportunities and challenges. Three key words, namely, “development”, “connectivity” and “innovation”, need to be focused on, he said. He said, “Thanks to the National Security Law and the improved electoral system, Hong Kong has transformed from chaos to stability and prosperity, and has a big role to play in the GBA and China’s new round of opening-up. The positioning of Hong Kong in the 14th Five-Year Plan as an international financial, shipping and trading center and the global offshore RMB business hub will further strengthen Hong Kong’s role as a ‘super-connector’, and boost the development of Hong Kong and the GBA.” In the welcoming remarks, Mr. Zhou Shuchun, a Standing Committee member of the Chinese People’s Political Consultative Conference National Committee and China Daily publisher and editor-in-chief, perceived that the RCEP is a win-win proposition. “It is a coming together of economies big and small, developed and developing. While the enhanced inflow of investment helps developing member states to raise the standard of production and income levels, and thus move up the value chain, developed economies can cut down on overhead by setting up manufacturing bases in the ASEAN states while also catering to those markets. The idea ties in with President Xi’s notion of common prosperity — informed by the democratic philosophy that sharing of wealth and resources can only benefit everyone concerned in the long run,” he said. He said that such fraternal vibes make us optimistic about the future of China’s relationships with her trading partners in the Asia-Pacific. He hopes after we have listened to our eminent speakers and panelists at today’s conference, all of us will have a more nuanced idea about how the cities in China’s Greater Bay Area can tap into the supply chain and demand in a wide diversity of markets through the RCEP framework, and lead the way in creating, to quote President Xi once again, a “unified, open, competitive and orderly market system”. Mrs. Eva Cheng, deputy secretary-general of the Hong Kong Coalition, pointed out that the GBA is China’s most powerful economic growth engine, and the RCEP is the world’s single largest free trade agreement. And the theme is about connecting the two. It is about integrating “the largest” with “the most powerful”. She said: “Integration is a key word. And talking about integration, the RCEP has fostered regional market integration among 15 of Asia’s biggest economies and markets. The GBA has also fostered integration among 11 key cities that collectively form the most vibrant bay area in South China. Now, we are glad to see that for the first time in history, China’s National 14th Five-Year Plan mentioned ‘integrated development’ with Hong Kong in its text. That’s certainly going to open another new chapter in the story of Hong Kong.” She said “Now is the time for humanity to work closer together than ever before. The threat of deglobalization is real, and the forces of decoupling brought about by geopolitics is haunting. Now is the time to connect, to harmonize, to integrate, to fight COVID-19, to fight climate change, to grow and prosper together and be strong.” According to the 14th Five-Year Plan (2021-25), adopted in March 2021, the “dual circulation development paradigm” allows the domestic and overseas markets to reinforce each other, with the domestic market as the mainstay. How can Hong Kong, as the international business hub for the Guangdong-Hong Kong-Macao Greater Bay Area, leverage its composite advantages to connect the RCEP with the GBA, and to further boost economic growth and recovery? Under the theme of “Embracing New Opportunities: Connecting GBA to RCEP”, the conference gathered thought leaders from across the region to discuss and provide updates on the latest developments of various sectors as well as new opportunities for Hong Kong and the Greater Bay Area. Hong Kong has expressed a strong interest in joining the Regional Comprehensive Economic Partnership (RCEP) Agreement, which is the first free trade agreement between China and 14 other countries in the Asia-Pacific region. With 30 percent of global GDP and 30 percent of the world’s population, the RCEP will not only benefit Hong Kong’s enterprises to expand their markets in this sizeable market, but also act as a bridge to provide new cooperation potential and to connect it with the Greater Bay Area. The first panel discussion, titled “How can Hong Kong benefit from the RCEP and turn it into a boon for the GBA?”, was chaired by Professor Edward Chen, chairman of HKU SPACE (School of Professional and Continuing Education). Five heavyweight speakers, including Dr. Jonathan Choi, chairman, Guangdong-Hong Kong-Macao Bay Area Entrepreneurs Union; Dr. Victor Fung, group chairman, Fung Group; Professor Witman Hung, principal liaison officer for Hong Kong, Shenzhen Qianhai Authority; Dr. George Lam, chairman, Hong Kong Cyberport; and Mr. David Liao, co-chief executive, The Hongkong and Shanghai Banking Corp Ltd, examined how the RCEP benefits Hong Kong and the GBA in the long run, and how to encourage collaboration in the regions. Dr. Jonathan Choi said that Hong Kong is at the very center of the RCEP, acting as a promoter and a facilitator. “As a businessman, I perceived Hong Kong as a ‘CIO’, connector, investor and operator. We are a super-connector on business and investment. At the same time, we are investors as the intentional financial center. We also operate many factories in the Greater Bay Area for the past 40 years. We operate an airport, seaport, and other public facilities.” Dr. Victor Fung pointed out that the GBA with the RCEP is the creation of perhaps the next generation of global trade. He said it is the new World Trade Organization. It has the real opportunity of expanding globally to encompass a new multilateral system. Hong Kong has traditionally played a critical role in the old WTO. “We stand for the rule of law in international trade. Although we have been small, we have been significant. I would think that Hong Kong will see a similar role in this new development in the innovation of the GBA with the RCEP”, he said. Professor Witman Hung said that Hong Kong is a talent and education hub for the RCEP, with five universities being in the world’s top-ranking universities. This advantage allows Hong Kong to attract talents from the RCEP and as well as the inflow of talents and scholars. The RCEP can also help Hong Kong’s new industrialization. He said he thinks the GBA and Hong Kong form an integrated environment where startups do research in Hong Kong, prototype in Shenzhen, and come back to Hong Kong for cooperate venture investment. Dr. George Lam indicated that we are moving decisively in the direction of becoming an innovation and technology hub for the region. The new economy is doing very well. He can see this digital North-South highway and Hong Kong is right there. “So we can help a lot. For example, Cyberport, Hong Kong’s global digital technology hub, got over 70 startups providing innovative solutions to help fighting the pandemic. It's already called the new export. We are sharing best practices and ideas and solutions with many countries in the region. That's one example of what Hong Kong can help,” he said. Mr. David Liao perceived that RCEP is a region of new language that drives community and coalition. For Hong Kong, the common language will allow growth and activities that allow a basis to drive other important issues like an ESG system. “Hong Kong is a natural taker in terms of benefiting from connectivity. It’s a great gateway for the Chinese mainland to come out to the world, a phenomenal platform and legal infrastructure (provider) for international finance,” he said. “Hong Kong aims to develop itself into a hub for arts and cultural exchanges between China and the rest of the world. A city with a rich history and cultural elements of East-meets-West, Hong Kong gathers artists and cultural organizations from across the globe and attracts tourists to the city as well as to the other GBA cities. Hong Kong’s cultural and heritage tourism will be the key to connecting the 11 cities of the cluster.” Professor Haiyan Song, associate dean and chair professor of tourism, Mr. and Mrs. Chan Chak Fu Professor in International Tourism, School of Hotel and Tourism Management, The Hong Kong Polytechnic University, chaired the second panel discussion, themed “Unlocking Tourism Collaborations through Cultural Sustainability and Heritage Development in the GBA”. The session brought together six prominent speakers from tourism and creative sectors: Dr. Adrian Cheng, CEO, New World Development Co Ltd; Mr. Eric Fok, vice-president, Fok Ying Tung Group; Dr. Wangxi Han, director, Shenzhen Innovative and Creative Design Development Office; Ms. Pansy Ho, group executive chairman and managing director, Shun Tak Holdings Ltd; Dr. Louis Ng, director, Hong Kong Palace Museum; and Dr. Y.K. Pang, chairman, the Hong Kong Tourism Board. They had in-depth discussions about how cultural and heritage tourism can boost the economy, how the creativity and tourism sectors can work together for further growth of the industries, and whether cultural and heritage tourism will be the next key pillar for GBA collaboration. Dr. Adrian Cheng said that Hong Kong as well as the whole GBA are destined to become a flourishing hub for culture and heritage. “While Gen Z and millennials are keen to embrace the latest digital trends, innovation, they're more and more developing a nostalgic appreciation of the past and the ancient treasure of its history. They're increasingly passionate about learning more about the roots, their culture, and their identity. They traveled widely to visit historical sites and were inspired by finding graphic artifacts of the past. At this critical moment, we are fortunate to be embarking on a new era that parallels that renaissance in what we might call a living heritage economy,” he said. Dr. Y.K. Pang said that the COVID-19 pandemic has shaken many aspects of our daily lives, but the foundations of what we have built and achieved through the decades remain sold and unbroken. “Hong Kong remains one of the world’s most vibrant and attractive destinations. The only major difference as we emerge from the pandemic is that we have much more, not less, to offer to global visitors when they return. The emergence of the Greater Bay Area has broadened and brightened our horizons and provided us with the opportunities to showcase to the world the richness not only of Hong Kong, but also of a dynamic new region full of diversity, life, history and heritage,” Pang said. Ms. Pansy Ho indicated that as we emerge from the crisis, it is important to look at new opportunities not as competitors separated by borders, but as counterparts of the Greater Bay Area among its 11 cities, and to work together to formulate tourism strategies that highlight our strengths, our unique advantages and to fully portray Lingnan culture. She said Hong Kong is in an advantageous leadership position to put these opportunities into motion, and she personally looks forward to working together to build an even more vibrant tourism package and landscape for our future. Dr. Louis Ng said the 14th Five-Year Plan sets out a strong vision to develop the Guangdong-Hong Kong-Macao Greater Bay Area into a world-class tourism destination with integrated cultural and tourism industries. “The cities in the Greater Bay Area should integrate resources, markets and brand collisions to enhance cooperation. They should also leverage on the GBA's cultural resources to develop more-diversified and high value-added products to promote cultural and tourism development,” he said. Mr. Eric Fok said, “I believe sports can play a big role in this area and also promote tourism under the theme of culture. In Hong Kong, we are going to be playing a bigger role as the central government also gave us a big task in this. With the increase of cultural confidence through sports and friendship, we are able to integrate ourselves and contribute toward the economic growth of the Greater Bay Area.” Dr. Wangxi Han mentioned that the continuity of cultural memory and cultural lineage is a major issue for the ages. The creative transformation and innovative development of traditional culture is a major issue in theory and practice. The revitalization of the Nantou (historic town) is not only to re-create the glory of “the first county in eastern Guangdong and the source of Hong Kong and Macao”, but also to integrate the culture of the Greater Bay Area and create a “cultural landmark of the Bay Area”, which requires careful consideration in terms of the revitalization of history and culture, the enhancement of urban vitality and the implantation of multiple cultures. The last session, an industries dialogue themed “Hong Kong: The International Business Hub for GBA”, was chaired by Dr. Edward Tse, founder and CEO of Gao Feng Advisory Co. Four business leaders who have invested in businesses in different GBA cities provided valuable tips for those interested in exploring opportunities in the region. They were Dr. Kevin Lau, founding director, Trinity Medical Centre; Dr. Patrick Lau, deputy executive director, Hong Kong Trade Development Council; Mr. Clarence Ling, director, Kwai Hung Group and founder; and Mr. William Shum, founder and CEO, Memorigin Watch Co Ltd. Dr. Kevin Lau Chung-hang said that there are huge opportunities for the medical industry from the RCEP and GBA areas, especially in eldercare and treatment of common chronic diseases, because of the rapid growth and aging population within the regions, which has led to a huge demand for healthcare services. The advantageous policies in four areas from the government could lead the prosperous growth of economic development in the GBA region — infrastructure interoperability, financial interconnection, science and innovation; as well as urban strategy. Mr. William Shum indicated that Hong Kong is an international city. “It’s a good window to face the global market with the merging of Eastern and Western design. By the merging of East and West, we can convince the customers and develop in GBA cities in a very fast and efficient way,” he said. “Everything can be shared in the GBA cities. We can do options, we can do different types of crossovers, and also do charities. In one conclusion, in order to do for the 14th Five-Year Plan, especially for the Greater China politics, we can use the hub and foundation in Hong Kong and also in the GBA cities, and step by step to develop for China’s “dual circulation”. Dr. Patrick Lau said he believes the GBA is a good opportunity for businesses to get into the very big and potential mainland market for the first step. Hong Kong, obviously the international hub, can be the most ideal entry point for the business going into GBA. Many international businesses are very keen on the GBA cities and doing a lot of outreaches both here in Hong Kong, as well as overseas offices during the pandemic time. Everyone is very keen on the GBA opportunities. Mr. Clarence Ling Chun-kit said, “During my various entrepreneurship mentorship experiences, I came to realize that we should help Hong Kong youth to know about our own country. Many young people don’t really know what’s happening in the mainland; it’s our responsibility to help them to understand the bigger picture.” About China Daily Founded in 1981, China Daily covers 360 million readers and users worldwide through diversified platforms, including newspapers, websites, mobile devices, and social media. The number of China Daily’s followers has now reached 61.7 million on Weibo, 13 million on the WeChat blog platform, 104.2 million on Facebook, and 4.3 million on Twitter. About the China Daily Asia Leadership Roundtable The China Daily Asia Leadership Roundtable is a by-invitation network of movers and shakers in Asia, providing platforms for focused dialogue, issue investigation and possible collective action on strategic issues relating to Asia’s economic, business and social development. Our aim is to enhance communication and increase mutual understanding among China, Asian countries and Western countries. Roundtable events are held in major cities across Asia. About the Hong Kong Coalition The Hong Kong Coalition is founded by 1,500 initiators from all sectors of Hong Kong society, with Mr. Tung Chee Hwa and Mr. Leung Chun Ying assuming the roles of chief convener, Mr. Tam Yiu Chung serving as secretary-general, and Ms. Maria Tam Wai Chu and 10 other members holding the posts of deputy secretary-general. The coalition held a press conference on May 5, 2020, declaring its official establishment. The aims of the Hong Kong Coalition are: Uphold “one country, two systems”, support Hong Kong to overcome difficulties; and start afresh for brilliance ahead. Media Contact: Ms. Mindy Yeung Tel: (852) 3465-5432 Email:mindyyeung@chinadailyhk.com

Editor’s note: The following are the opening remarks by Zhou Shuchun, member of the Standing Committee of the CPPCC National Committee and publisher and editor-in-chief of China Daily, at the Greater Bay Area Conference - Embracing New Opportunities: Connecting GBA with RCEP co-hosted by China Daily and Hong Kong Coalition on Nov 30, 2021. Honorable Mr CY Leung, Vice-chairman, the CPPCC National Committee, Honorable Mr Liu Guangyuan, Commissioner, the Ministry of Foreign Affairs of the People’s Republic of China in the Hong Kong SAR Distinguished guests, ladies and gentlemen: Good morning and a very warm welcome. The Greater Bay Area Conference is one of our most high-profile annual public forums where we invite experts to shed light on the major political, economic, social and cultural concerns affecting the region. We try to move with the times and address the most pertinent issues of the moment. Today we will introduce what promises to be a key driver of Asia’s growth story to the conversation. As you all know, the Regional Comprehensive Economic Partnership (RCEP) is a free trade agreement involving the ASEAN nations as well as China, Japan, South Korea, Australia and New Zealand which comes into force on January 1, 2022, and China, one of the first countries to ratify the agreement, is all set to play a significant role in this multi-lateral commercial partnership that will serve the interests of 30 percent of the world’s population and account for a third of the global GDP. The RCEP is a win-win proposition. It is a coming together of economies big and small, developed and developing. While the enhanced inflow of investment helps developing member states to raise the standard of production and income levels, and thus move up the value chain, developed economies can cut down on overheads by setting up manufacturing bases in the ASEAN states while also catering to those markets. The idea ties in with President Xi’s notion of common prosperity — informed by the democratic philosophy that sharing of wealth and resources can only benefit everyone concerned in the long run. President Xi has been a vocal advocate of “building the Asia-Pacific community with a shared future”. At the APEC CEO summit earlier this month, he reiterated his commitment to “promoting innovation-driven development of pilot free trade zones”. The President has further assured that “China will continue to shorten the negative list on foreign investment, promote all-round opening-up of its agricultural and manufacturing sectors, expand the opening of the service sector, and treat domestic and foreign businesses as equals in accordance with law.” Such fraternal vibes make us optimistic about the future of China’s relationships with her trading partners in the Asia Pacific. I hope after we have listened to our eminent speakers and panelists at today’s conference, all of us will have a more nuanced idea about how the cities in China’s Greater Bay Area can tap into the supply chain and demand in a wide diversity of markets through the RCEP framework, and lead the way in creating, to quote President Xi, once again, a “unified, open, competitive and orderly market system”. Thank you for attending today’s conference. I hope you enjoy the sessions.

Editor’s note: The following is the full text of the keynote speech by CY Leung, Vice-chairman of the CPPCC National Committee, at the Greater Bay Area Conference - Embracing New Opportunities: Connecting GBA with RCEP co-hosted by China Daily and Hong Kong Coalition on Nov 30, 2021. Be More Proactive Commissioner Liu, Mr Zhou, Distinguished Guests, Ladies and Gentlemen, Good morning. I am away in Beijing. My sincere apologies for having to deliver my address by this pre-recorded video. We are here today to identify new opportunities and, more importantly, to embrace them. Definitely in trade matters, Hong Kong is the super-connector of the world. We are one of the largest global trade hubs for both goods and services. Now we have a new boost. The Regional Comprehensive Economic Partnership (RCEP) is the largest free trade agreement ever forged. As we speak, barriers between Hong Kong and the other cities in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) are being lowered one after another. What are the implications of RCEP RCEP covers around one-third of the world’s population, and economies that account for one-third of global GDP and nearly one-third of global trade. It offers more opportunities than existing free trade agreements. For the first time, the three biggest economies of Asia - China, Japan and Korea are enjoined in a free trade arrangement. Significantly Japan is the third largest re-export and the fifth largest off-shore trade partner of Hong Kong. RCEP also expands market access for services. It opens up some 65 percent of the service sector to foreign service-providers, with a level of access that is higher than, for example, the free trade arrangements between China and ASEAN, in particular in financial, legal, construction and transportation services. What does trade mean to Hong Kong Trading is in Hong Kong’s DNA. The history of Hong Kong as a trade hub can be traced back to the 1850’s. It started in Sheung Wan before the days of reclamation, berthing ships that ferried cargoes between Southeast Asia to the south and the Mainland of China to the north. Notably, few if any of the goods handled by Hong Kong were made or needed locally. But Hong Kong had the trust, the relationships, the market intelligence and the languages needed. Added to this our financial services, the ecosystem of an international trade hub was complete. It was aptly known as “Nan Bei Hang” (南北行). Today, trade is still a big chunk of Hong Kong’s economy. Contributing around 17 percent to our GDP, it is bigger than is generally appreciated. Trade also puts us on the world map. Last year, we were the world’s 6th largest trading entity in goods, and 21st as a “commercial services trading entity”. Over 430,000 people work in about 106,000 trading companies, each employing on average 4 persons. Our traders may be small, but they are well connected to and respected in the world, trading in anything that is tradable, from vegetable seeds to electronic components. Last year, the value of Hong Kong's total merchandise trade exceeded one trillion US dollars, which was equivalent to 3 times of our GDP. What it means is that we don’t consume most of the things we buy, and we don’t produce most of the things we sell - as in the days of Nan Bei Hang. But unlike the days of Nan Bei Hang, much of the goods we source nowadays from one country are sent directly to third-country markets without touching our shores or the airport. Our trade no longer depends on geographic proximity to suppliers or markets. We are one of the most efficient offshore trade centres in the world. How big is it? We can only estimate - about US$600 billion. What about services? In 2019, the total Hong Kong trade in services amounted to US$180 billion or about 49 percent of Hong Kong’s GDP. Hong Kong is also well established on the Mainland in other service sub-sectors. These include banking, insurance, information technology and logistics. Similar to the transformation of our manufacturing sector from “made in Hong Kong” to “made by Hong Kong’, our service sector is transforming from “provided in Hong Kong” to “provided by Hong Kong”. To the list of existing service types I would add maritime services which cover ship registration, finance and management; marine insurance and legal services. Qianhai of Shenzhen which is part of the GBA would be our ideal partner, leveraging on the special policies granted by the Central Government and their close proximity to Hong Kong. Together Shenzhen and Hong Kong could forge a national maritime services platform in Qianhai, offering unparalleled growth opportunities to foreign marine services companies now based in Hong Kong. A delegation of Hong Kong experts in these fields have been put together to engage with the Shenzhen authorities. Lastly intellectual property (IP) services. China is the largest IP country in the world in terms of the number of new registrations. As for Hong Kong, the total trade in IP-related services in 2019 amounted to $21 billion. What does RCEP mean to Hong Kong It is important to reiterate this point - Hong Kong does not buy and sell just for itself. We buy for the world and sell for the world. Mainland government officials with whom I work to utilize Hong Kong’s trade functions have coined this phrase to describe this particular trait of Hong Kong 買全球，賣全球(buy for the world, sell for the world). I thought this phrase was quite neat. So the significance of RCEP to Hong Kong lies not so much in Hong Kong itself being a producer or a consumer - we are too small at that - but in our close relationships with the Mainland of China - a huge producer, assembler and ultimate consumer. And the GBA is a significant part in this equation. Last year, 73 percent of the total merchandise trade of Hong Kong was with the RCEP economies, but only 40 percent of the exports and 50 percent of the imports were within the RCEP bloc. Patently there is a good deal of potential for Hong Kong. RCEP will strengthen Hong Kong’s status as a regional hub for professional services. Within RCEP, the Mainland of China is the biggest market of professional services and Hong Kong the biggest overseas provider. Hong Kong is extremely well placed to facilitate foreign firms in utilising the new access to the Mainland Chinese market under RCEP. We have a wealth of practical experience and a deep, diverse, bilingual and dual-culture talent pool in a user-friendly job market. We have had the first-mover advantage since the reforms started 43 years ago. The Closer Economic Partnership Arrangement between the Mainland and Hong Kong （CEPA）which was enacted 18 years ago has beyond any doubt strengthened this advantage. CEPA gives Hong Kong among others such privileges as recognition of professional qualifications and relaxed shareholding restrictions. The level of market access is higher than, for example, the free trade arrangements between China and ASEAN. What about the GBA Last year, the GBA accounted for 11 percent of China’s GDP. The GBA Guangdong cities have been our close working partners for over a century. As with other partners, Hong Kong has the trust, the relationships, the market intelligence and the language factors to extend our international trade functions to Guangdong. As the GBA strategy envisions many of the barriers between Hong Kong and Guangdong coming down, integration will unleash huge energy for growth in the trade and related sectors. Three weeks ago, I organised for several Hong Kong business chambers a visit to a distribution facility in a bonded area in Nansha, which is a district of Guangzhou and 35 minutes away from the West Kowloon high-speed rail station. One of its functions is the provision of intermediate bonded warehousing for Hong Kong buyers of imported goods. Why Nansha? Huge hinterland of Guangdong, low costs, good roads and sea access. More importantly the container port there now handles 17 million TEU’s a year - 17 percent more than the Kwai Tsing container port. Seven months ago, the Consultative Committee on Guangdong-Hong Kong Cooperation （Guangzhou Nansha）（廣州南沙粵港合作諮詢委員會）was formed by the Guangzhou Government to solicit Hong Kong’s input in a B2G mode. One of the 9 working groups of the Committee is on trade. RCEP will be on their to-do list. The Committee have set up a service centre in Nansha which provides free service to member bodies which include the major Hong Kong business chambers and professional bodies. What about other parts of the Country Last year, Hong Kong was the Mainland's 4th largest trading partner. Significantly, the value of goods re-exported through Hong Kong from and to the Mainland accounted for 89.6 percent of Hong Kong's total re-export trade. Hong Kong was also the Mainland’s second largest export market, taking up 10.5 percent of its total exports. Beyond the GBA, Hainan with its unrivalled free trade policies offers lucrative opportunities. We should examine the prospects of facilitating a tripartite trading mechanism involving Hong Kong, the GBA and Hainan. What about ASEAN 10 of the 15 RCEP economies are ASEAN. For the first 10 months of this year, trade between Hainan and the Philippine increased by 70 percent over last year, and with Indonesia by 43 percent. Last year, ASEAN was Hong Kong’s second largest trading partner, after the Mainland of China. In the past 4 years, Hong Kong imports from ASEAN grew at 7.2 percent per annum. Hong Kong plays an important role for merchandise trade between ASEAN and the Mainland of China. Last year, re-exports between the two economies through Hong Kong amounted to about HK$500 billion in 2020. Hong Kong should re-discover its role in north-south trade between the Mainland of China and ASEAN. Let’s be more proactive Four years ago in a speech to the Hong Kong and Macao delegation to celebrate the 40th anniversary of the country’s Reform and Opening-up, President Xi Jinping expressed his four hopes for Hong Kong and Macao, namely, more proactively contributing to the country’s new round of opening-up, more proactively integrating into the country’s overall development, more proactively participating in national governance, and more proactively promoting exchanges of humanities on the international level. The words that I would borrow today are “more proactively”. Opportunities for Hong Kong to connect the GBA to RCEP will remain no more than opportunities unless and until we turn them into realities - realities of economic and social progress. So far this year, I have spent 109 days in the Mainland, mostly in Guangdong. I am constantly impressed by the developments there, not only in terms of speed, but also the quality of growth, the progressive outlook and the new approaches. Put simply, one has to see them to believe them, and one has to be on the ground to make things happen. Distinguished guests, ladies and gentlemen, for two years now, physical contacts between Hong Kong and the Guangdong GBA cities have been seriously interrupted by the COVID-19 pandemic. The effects of “didn’t know” （不知道）between the two sides are aggravating. When the boundary check-points are re-opened, albeit partially, Hong Kong has to execute a catch-up plan. We should launch a global publicity campaign to tell our RCEP partners that Hong Kong the super-connector is back in business, and that Hong Kong has a unique role in the GBA. Among the first batches of exempted travellers into Guangdong should be policy researchers, representatives of professional bodies, local and foreign business chambers, the media, and foreign governments. The chambers and professional bodies should have permanent staff in Guangdong to roam and explore, to re-build and extend our relationships, to expand our knowledge base and to help local and foreign businesses based in Hong Kong turn RCEP opportunities into results for all in the Greater Bay Area. Thank you.

新聞稿 即時發佈 「2021大灣區論壇」探討RCEP為粵港澳大灣區帶來的新機遇 中國日報香港11月30日電：由中國日報和香港再出發大聯盟主辦的「2021大灣區論壇」今日在香港舉行。 全國政協梁振英副主席和外交部駐港特派員公署劉光源特派員作為主禮嘉賓以線上線下的形式發表主旨演講。 此次論壇主題為「新機遇新格局：面向RCEP的粵港澳大灣區」，近20位香港政商學界代表，聚焦金融服務、貿易物流、專業服務、文化旅遊等不同領域，就探討城市間如何互利合作展開討論，共同把握RCEP下粵港澳大灣區的發展機遇， 來自32個國家的駐港總領事及領事官員和逾460名特區政府、中聯辦、本地及國際企業、專家學者等參加論壇。 梁振英在主旨演講中表示，作為全球最大的商品和服務貿易中心之一，香港擔得起「超級聯繫人」的美譽。 RCEP的簽訂為香港帶來新的增長引擎。 此外，香港與大灣區內地城市的合作也會愈發順暢。 梁振英指出，RCEP對香港的意義不在於香港本身是生產方還是消費方，而在於和內地的緊密聯繫，因為內地擁有強大的生產組裝能力和巨大的消費市場。 香港應更「積極主動」地抓住機會，將RCEP和大灣區帶來的潛在機會轉化為經濟發展和社會進步的動力。 劉光源在主旨演講中提到，大灣區建設的累累碩果充分彰顯了中國擴大開放的決心，展現了「一國兩制」的制度優勢，擘畫了國際社會共享機遇的新藍圖。 大灣區建設面臨新的機遇與挑戰，需著眼「發展」、「聯通」、「創新」這三個關鍵詞。 劉光源指出，隨著國安法實施和選舉制度的完善，香港迎來由亂轉治、由治及興的重要轉折，在大灣區建設、國家新一輪對外開放中大有可為，也一定會大有作為。 「十四五」規劃賦予香港」一個中心、三個樞紐「定位將進一步強化香港作為中國與世界「超級聯繫人」角色，為香港發展和大灣區建設揚帆起航再添動力。 全國政協常委、中國日報社社長兼總編輯周樹春和香港再出發大聯盟副秘書長鄭李錦芬作為主辦方也分別以線上線下方式致歡迎辭。 周樹春在致辭中說：「RCEP是一項共贏的提議，惠及各類經濟體，無論其規模大小，經濟發展水準高低。發展中成員國可藉助不斷流入的投資提高生產標準和收入水準，從而提升價值鏈;發達成員國則可以通過在東盟國家建立生產基地來減少管理費用，同時亦能迎合當地市場。這與習近平主席提出的共同富裕理念不謀而合，即共用財富與資源長遠來看符合所有人的利益。 」 周樹春表示他對中國與亞太貿易夥伴的合作持樂觀態度，希望通過今天的論壇，大家能更瞭解大灣區各城市如何利用RCEP框架下的多元市場，挖掘供應鏈和需求，並帶頭建設習近平主席提出的「統一開放、競爭有序的市場體系」。 鄭李錦芬在致辭中指出，粵港澳大灣區是中國最強大的經濟增長引擎， RCEP 是世界上最大的單一自由貿易協定，兩者的結合發展是關鍵。 RCEP 促進了亞洲 15個最大經濟體和市場之間的區域市場整合。 同時，大灣區也促進了11個重點城市之間的融合發展，成為華南最具活力的灣區。 她表示樂於見到國家「十四五」規劃首次提及與香港的「融合發展」，這定會開啟香港故事的新篇章。 鄭李錦芬表示，與以往相比，人類現在更需要緊密合作。 逆全球化帶來的威脅是真真切切的，地緣政治帶來的「脫鉤」效應也影響深遠。現在各方應互聯互通、和諧共存、融合發展、合力抗擊新冠疫情、應對氣候變化、共謀繁榮。 首場專題研討會圍繞主題「香港如何受惠於RCEP並連系大灣區，發揮更大的經濟效益」展開討論，由香港大學專業進修學院董事局主席陳坤耀主持，粵港澳大灣區企業家聯盟主席蔡冠深、馮氏集團主席馮國經、前海管理局香港事務首席聯絡官洪為民、 香港數碼港主席林家禮及香港上海滙豐銀行有限公司聯席行政總裁廖宜建等演講嘉賓共同探討加入RCEP對香港的重要性。 蔡冠深表示未來香港在聯繫RCEP及大灣區上將扮演關鍵角色，簡單可概括聯繫者、投資者和營運者。 香港是大灣區核心城市，同時地處亞洲中心位置，面向國內和海外市場，與大灣區城市及RCEP成員國均可緊密合作，進而説明兩方融合。 洪為民提到香港有五所全球排名領先的大學，是 RCEP 的人才和教育中心。憑藉這一優勢，香港可吸引眾多來自RCEP區域的人才，同時RCEP 也可助力香港的新工業化。 大灣區和香港組成了一體化的環境，即初創企業在香港做研究，在深圳做試驗，最後回到香港尋找企業風險投資。 林家禮說：「我們正朝著成為區域科創中心的方向邁進，新經濟發展勢頭良好。這條『南北數位交通』已清晰可見，而香港在其中定能有所作為。例如，逾70家來自全球數碼科技中心——數碼港的初創企業為抗擊新冠疫情提供創新解決方案，這已經成為了新的出口模式。 目前，我們為RCEP區域的許多國家提供了寶貴的實踐經驗、創意和解決方案。 這也是香港從中做出貢獻的一個縮影。」 廖宜建指，區域全面經濟夥伴協定（RCEP）推動亞太區的貿易往來，更有望帶來千億元計的經濟活動投資，對於滙豐必定有利，相信集團在區內的優勢，有助向貿易客戶提供現金管理及支付服務。消除非關稅的貿易壁壘，對各國經濟增長及投資有利，而香港同時為中外投資者提供流動管道，相信隨著中國進一步開放經濟，有望吸引更多資金流入本港。 馮國經表示香港在爭取加入RCEP已經做了很多工作，未來應重點繼續推動數碼化，包括説明中小企融入全球經濟體系，推動包容性發展。他認為，RCEP將創造顯著的經濟效益，南北亞經濟流動在未來10年會愈趨重要，香港應該發揮金融服務和觸及全球的優勢，在當中扮演重要角色。 第二場專題研討會以「釋放粵港澳大灣區文化創意與文化遺產及旅遊業的可持續發展」為主題，由香港理工大學酒店及旅遊業管理學院副院長及講座教授、陳澤富伉儷國際旅遊教授宋海岩主持，新世界發展有限公司行政總裁鄭志剛、霍英東集團副總裁霍啟山、深圳創新創意設計發展辦公室主任韓望喜、信德集團行政主席兼董事總經理何超瓊、香港故宮文化博物館館長吳志華及香港旅遊發展局主席彭耀佳擔任演講嘉賓，探討文化遺產旅遊如何促進經濟發展，以及文化創意產業與旅遊業如何攜手推動行業發展。 鄭志剛指出，香港中西文化交匯，註定成為文化遺產方面的樞紐，期望香港發展旅遊經濟的同時，可保護文化遺產。 他以該集團早前購入的北角皇都戲院為例，指該景點吸引世界級表演者到港演出，反映香港一直是世界表演中心。 彭耀佳指出新冠疫情影響了我們生活的方方面面，但並未動搖我們多年來打下的堅實基礎。香港仍然是全球最具活力和吸引力的旅遊目的地之一。當全球遊客能重訪香港時，我們能帶給他們更精彩的體驗。大灣區為我們提供了嶄新的視野，讓世界不僅有機會領略香港的豐富內涵，還能感受到整個大灣區的活力與多元文化。 何超瓊認為，當危機降臨時，我們應著眼尋求新機遇。 大灣區的11個城市，並不是相互競爭的關係，而是可以共商旅遊發展策略，同時突出自身獨特優勢，大力塑造嶺南文化的合作關係。在推動機遇方面，香港的領導地位很有優勢。她表示，非常期待各方通力合作，在未來打造更有活力的旅遊業。 吳志華說：「十四五」規劃提出了將粵港澳大灣區建設成為世界一流的文化旅遊目的地的宏偉目標。 大灣區各城市應整合資源、市場和品牌，加強合作;同時利用好大灣區的文化資源，開發更多樣化和高附加值的產品，以促進文化和旅遊業的發展。 霍啟山認為，體育運動可以在文化領域發揮重要作用，亦可促進旅遊業的發展。體育運動有助於增強文化自信，為大灣區的經濟發展做出貢獻。 韓望喜表示，無論從理論上還是從實踐上而言，傳統文化的創新與發展都是一個重要議題。以南頭古城為例，「盤活」南頭古城是打造「灣區文化地標」的重要一步。 第三場行業對話以「香港作為大灣區國際商業樞紐的地位」為主題，由高風諮詢公司創始人及行政總裁謝祖墀主持，邀請在大灣區不同城市投資的商界領袖包括全仁醫務診斷中心創始人劉仲恆、香港貿易發展局副總裁劉會平、香港菁英會主席、桂洪集團董事淩俊傑及萬希泉鍾錶有限公司創辦人兼行政總裁沈慧林四位演講嘉賓共同分享投資大灣區的營商經驗， 及探討灣區內的機遇。 劉仲恒表示，RCEP和大灣區內的醫療行業前景廣闊，特別是在老年護理和常見慢性病治療方面。 由於區域內人口快速增長、老齡化問題加劇，民眾對醫療服務的需求巨大。 政府在基建、金融互聯互通、科技創新以及城市戰略這四個方面的優惠政策有望令大灣區經濟發展更上一層樓。 沈慧林認為，香港作為一個國際化大都市，是面向全球市場的重要視窗。 東西方設計風格都能在香港大放異彩，滿足客戶的多樣需求。 大灣區為我們提供了無限的可能性，比如跨界合作和慈善公益等。 香港應積極融入「十四五」規劃，為打造「雙迴圈」格局添磚加瓦。 劉會平說：「我們認為大灣區為企業進入內地市場提供了絕佳的機會。香港作為國際樞紐，是企業進入大灣區最理想的切入點。大灣區城市在國際企業中大受歡迎，大家都想從中找到機會。」 凌俊傑說：「通過各種創業經歷，我逐漸意識到，很多年輕人並不瞭解內地的情況，因此我們有責任幫助他們增強對國家大局的認識。」 此次論壇為第七屆「一帶一路」和粵港澳大灣區系列論壇，自2015年創辦起，前三屆論壇以「一帶一路」倡議為主題，2018年起論壇圍繞粵港澳大灣區設置主題，成為首個國際性粵港澳大灣區論壇。 歷屆論壇主題包括「深化粵港澳大灣區區域合作：探索創科潛力」、「促進創新與可持續發展，共創大灣區新機遇」和「大灣區：前行啟新程」等議題。 有關中國日報 中國日報是中國國家英文日報，全媒體用戶總數超過3.5億，目前全球下載用戶超過3600萬，是我國唯一下載量過千萬的英文新聞用戶端;微博粉絲數超過6170萬;微信訂閱人數達1300萬;臉譜帳號粉絲數超過1.042億，位居全球媒體帳號粉絲數第二位;推特帳號粉絲數約430萬。 有關香港再出發大聯盟 「香港再出發大聯盟」成立於2020年 5月 5 日，由董建華先生、梁振英先生擔任總召集人，譚耀宗先生任秘書長，譚惠珠女士等11人擔任副秘書長，並由全港 1500 多位社會各界人士擔任共同贊助者。 「香港再出發大聯盟」的宗旨是：堅持「一國兩制」，推動香港戰勝艱難，重新出發，再創輝煌。 有關中國日報亞洲領袖圓桌論壇 中國日報亞洲領袖圓桌論壇（www.cdroundtable.com）， 建立於2010年，旨在搭建一個由亞洲國家和地區的政、商、學界領袖和社會精英參與的高端對話和交流平臺，圍繞亞洲地區經濟、商業、產業和社會發展等具有戰略影響的重要議題展開討論和分享見解，以增進中國與亞洲國家 和西方國家的交流和理解。 迄今，在港澳和亞太多個國家和地區舉辦逾100屆，逾6萬名決策精英直接參會。 媒體垂詢： 楊小姐 電話：（852） 3465 5432 電郵：mindyyeung@chinadailyhk.com

The enforcement of Regional Comprehensive Economic Partnership will strengthen Hong Kong Special Administrative Region’s position as a key hub for trade and services and further promote integration in the Guangdong-Hong Kong-Macao Greater Bay Area, a GBA conference heard on Tuesday. The RCEP – the world’s largest free trade pact which comes into force on Jan 1, 2022 – is the first free trade agreement between China and 14 other countries in the Asia-Pacific region which account for 30 percent of the global GDP and as much of the world population. “Definitely in trade matters, Hong Kong is the super-connector of the world. We are one of the largest global trade hubs for both goods and services. Now we have a new boost. The RCEP is the largest free trade agreement ever forged,” Leung Chun-ying, vice-chairman of the National Committee of the Chinese People’s Political Consultative Conference, said in his keynote address at the conference co-hosted by China Daily and the Hong Kong Coalition. Over 200 people including government officials, business leaders and members of academia exchanged views during the conference themed “Embracing New Opportunities: Connecting GBA with RCEP”. A hybrid event, the in-person component of the conference was held at the Hong Kong Ocean Park Marriott Hotel. In his pre-recorded video speech, Leung said RCEP will enhance Hong Kong’s status as a regional hub for professional services. It will expand market access for services as it will open up about 65 percent of the service sector to foreign service-providers, he said, adding that such level of access is even higher than the free trade arrangements between China and member-countries of the Association of Southeast Asian Nations. Saying that the Chinese mainland is the biggest market of professional services in RCEP, Leung pointed out that Hong Kong, as one of the world’s biggest overseas provider of services, is “extremely well placed” to facilitate foreign firms in using the new access to the Chinese mainland under RCEP. This is because Hong Kong has “a wealth of practical experience and a deep, diverse, bilingual and dual-culture talent pool in a user-friendly job market”, he added. This also bodes well for the Bay Area. The Guangdong cities in the Bay Area have been Hong Kong’s “close working partners for over a century”, Leung said. “As with other partners, Hong Kong has the trust, the relationships, the market intelligence and the language factors to extend our international trade functions to Guangdong. As the GBA strategy envisions many of the barriers between Hong Kong and Guangdong coming down, integration will unleash huge energy for growth in the trade and related sectors,” he said. Liu Guangyuan, Commissioner of the Ministry of Foreign Affairs in the Hong Kong SAR, said Hong Kong has the strong backing of the motherland, a key hub in the Asia-Pacific and crucial bond of the whole world. “As the central city of the GBA and the most international city in the region, Hong Kong enjoys remarkable advantages such as a steady financial market, free flow of capital, sound legal environment and professional services. It has also signed free trade agreements with 13 RCEP economies,” he said. He cited the launch of the China-ASEAN Science, Technology and Innovation Enhancing Program, noting how China will take the RCEP as “a great opportunity” to expand cooperation on digital economy and green economy. This will also enhance the role of the Bay Area as a player, a contributor and a pioneer in the new round of global technological revolution and industrial innovation, he added. Liu said the National Security Law and the improved electoral system have transformed Hong Kong from chaos to stability and prosperity, and has a big role to play in the 11-city cluster and China’s new round of opening-up. “The positioning of Hong Kong in the 14th Five-Year Plan as an international financial, shipping and trading center and the global offshore RMB business hub will further strengthen Hong Kong’s role as a ‘super-connector, and boost the development of Hong Kong and the GBA.” Eva Cheng, deputy secretary general of the Hong Kong Coalition, said Hong Kong, as a major metropolis, “has always been smart about integration”. When China started pursing Open Door Policy more than 40 years ago, Hong Kong businessmen were among the first to set up manufacturing base in the mainland, she added. “Now, we are glad to see that for the first time in history, China’s National 14th Five-Year Plan mentioned integrated development with Hong Kong in its text. That’s certainly going to open another new chapter in the story of Hong Kong.” During conference opening ceremony, speakers emphasized China’s commitment to multilateralism and how RCEP will benefit not only its members but the global economy too. In his opening remarks, Zhou Shuchun, a member of the Standing Committee of the National Committee of the CPPCC, and publisher and editor-in-chief of China Daily, said the RCEP is a “win-win proposition” for both developed and developing economies. In a speech delivered via a video link from Beijing, Zhou said the enhanced inflow of investment helps developing member states to raise the standard of production and income levels and move up the value chain. Developed economies, meanwhile, can cut down on overheads by setting up manufacturing bases in the ASEAN states while also catering to those markets. He said this idea ties in with President Xi Jinping’s “notion of common prosperity- informed by the democratic philosophy that sharing of wealth and resources can only benefit everyone concerned in the long run”. China practices “true multilateralism, firmly upholds the multilateral trading system with the WTO (World Trade Organization) at its core, takes the lead in approving the RCEP, and works for an open world economy”, Liu said. Stressing that connected rules, smooth flow of factors and close ties between people are key cornerstones in the GBA, he said China will strengthen connectivity in the GBA and establish high-standard rules compatible with the RCEP. “Market access in the GBA will be further eased by implementing a management system of pre-establishment national treatment plus a negative list. What’s more, we will promote ‘hard connectivity’ of infrastructure and ‘soft connectivity’ of rules and mechanisms, and accelerate efficient flow of factors,” said Liu. These efforts will help stabilize the global supply chain, advance economic integration and share benefits across the world, he added. Contact the writer at prime@chinadailyapac.com

HONG KONG - The Greater Bay Area Conference co-organized by China Daily and Hong Kong Coalition was held as a hybrid event in Hong Kong on Tuesday. The conference brought together C-level senior executives from Fortune Global 500 and China 500 companies, think tanks and academics from across Asia. Under the theme “Embracing New Opportunities: Connecting GBA with RCEP”, it explored RCEP business opportunities for Hong Kong and the GBA in the long run and examines current economic landscape.