Seizing Opportunities: To Boost Greater Bay Area Business Integration

Hong Mengqiu

Seizing Opportunities: To Boost Greater Bay Area Business Integration

Oct 24, 2018, Macao: In collaboration with the Global Tourism Economy Forum, China Daily Asia Leadership Roundtable will hold a co-branded session themed “Chinese Enterprises Perspective” from 09:20 am to 10:10 am in Macao.

The Guangzhou-Shenzhen-Hong Kong high-speed railway officially went into service last month, while the mega Hong Kong-Zhuhai-Macao Bridge was opened today, heralding the blueprint for action in the Guangdong-Hong Kong-Macao Greater Bay Area. The “One-hour Life Circle” is gradually taking shape, with many enterprises setting their sights on the fresh opportunities created by the development of the Greater Bay Area.

Guangdong, Hong Kong and Macao complement each other with their respective strong economic and tourism potentials. Promoting mutual benefit and win-win cooperation to accomplish synergistic advancement is the primary objective in the development of the Greater Bay Area. How can Chinese enterprises cooperate to achieve this goal? What sort of opportunities will the Greater Bay Area create for the various sectors in the region, especially with respect to the tourism economy? How can Chinese companies face up to the challenges and capture the good fortunes?

China Daily is delighted to have seven distinguished speakers attending the forum. They are Mr. DING Zuohong, Chairman of the Board of Directors, Yuexing Group; Mr. SU Zhanhang, Vice President, Chimelong Group; Ms. ZHENG Hongxia, General Manager, Tourism Business Management Center of OCT Group Co., Ltd.; Mr. Sam WANG, Co-founder and President, SoReal VR Brand of Sky Limit Entertainment; Mr. WANG Wenyin, Chairman of Board, Amer International Group Limited; Ms. Tracy WONG, President, Ronghui (Fujian) Group Co. Ltd.; and Mr. ZHANG Haitao, Vice-Chairman and President, CITIC Capital Holdings Limited

Mr. DING Zuohong said that we always talk about synergies, we say that one plus one equals three, for the Greater Bay Area, it is Guangdong plus Hong Kong plus Macao, I would say that it is one plus one plus one equals 10, the synergy will be so great and it will bring historical opportunities to everyone of us.

Mr. SU Zhanhang said that the establishment of the HZMB and Hong Kong high-speed rail marks that all the major transportation channels in the zone have opened and a one-hour metropolitan area accessible from all directions is officially formed. The travelling time from Hong Kong and Macao to Chimelong theme parks in Guangzhou and Zhuhai has been substantially shortened to less than one hour.

Ms. ZHENG Hongxia said that the development of the Greater Bay Area will help promote industry upgrade and integration. It will also fuel growth of related industries, including creative industry, service industry, and help attract more talent and cultivate more entrepreneurs

Mr. Sam WANG said that for technologies, such as virtual reality (VR) and augmented reality (AR), which provide immersive experience for people, a major application is culture and leisure. If cultural tourism can better integrate with VR and AR technologies, the Greater Bay Area will unleash huge potential.

Mr. WANG Wenyin said that the Pearl River Delta gathers the country’s most advanced productivity force and most outstanding talent, and regional integration will create a strong city cluster.

Ms. Tracy WONG said that as the GBA is the largest economic zone in China, we are very positive of its development in the future. One of the most exciting opportunities is its large economic size and consumption power can support us to do some new attempt, which can benefit our industry structure adjustment.

Mr. ZHANG Haitao said that Citic Capital Holdings is not a tourism company, we are an investment company, but we are quite familiar with the concept of "Bay Area", we have offices in Tokyo, New York and San Francisco, by comparing the Tokyo Bay Area, New York Bay Area and San Francisco Bay Area to our Guangdong- Hong Kong- Macao Greater Bay Area, I believe that our Greater Bay Area has advantages in population, economic scales and the potential of economic development. But we also face some challenges that did not occur in other Bay Areas, for instance, we have cross-border procedures when traveling to Hong Kong and Macao, although the procedure is very simple today, it slows down the transportation, and this problem requires us to address in the future along with the development of the Greater Bay Area

About 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 economic, business and social development in Asia. Our aim is to enhance communication and increase mutual understanding between China, Asian and Western countries. Roundtable events are held in major cities across Asia.

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