THINK CHINA

The Greater Bay Market

The Guangdong-Hong Kong-Macau Greater Bay Area consists of 9 cities in Guangdong province and two special administrative regions （Hong Kong and Macau）in south China. It is home to about 70 million people, produces 37% of China’s exports and 12% of its gross domestic product.
The great vision of the Greater Bay Area
The Greater Bay Area plan is a project launched by Chinese government to foster growth by developing technology and innovation, boosting infrastructure and increasing financial links between the cities. The strategic visions for the major cities in the region are to make them become hubs in different sectors: Hong Kong would strengthen its status as a finance and trade hub, Shenzhen – home to Chinese technology giants like Huawei and Tencent, would develop to be a tech hub while Macau would focus on tourism and trade. The Greater Bay Area is one of the wealthiest regions in China and the fastest growing region attracting young talented migrants all over China.
The Greater Bay Market
By the Numbers
$1.57 trillion
GDP combined
In 2018, the total GDP of the Greater Bay Area reached 1.57 trillion USD, account for 13% of China’s total GDP. The top three cities contributing the greatest GDP are Hong Kong, Shenzhen and Guangzhou.
70 million
population
The Greater Bay Area has a combined population of about 70 million, which makes up 5% of the total population in China. The three biggest cities by population are Guangzhou, Shenzhen, and Dongguan.
No.2
in innovation capability globally
With four of the world’s top 100 universities, more than 3,000 VC institutions, the GBA ranked the 2nd (right after Tokyo-Yokohoma region) globally in regional cluster innovation capability.
7.96m tons
Air freight traffic
The volume of air freight traffic in the Greater Bay Area was 7.96 million tons in 2017, greater than the combined volumes of San Francisco, New York and Tokyo. There’re also 3 of world’s top 10 container ports in the Greater Bay Area.
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The Greater Bay Market Insights
Nov 03, 2023
How to Convert GBA Tourists for Your Retail Business in Hong Kong?
Tourism plays a critical role in Hong Kong’s economy, and recent data continues to reaffirm the Greater Bay Area (GBA) as a vital market for the recovery of its tourism industry. Let’s delve into how it performed in 2023 and what it means for retail brands in Hong Kong.
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