5 July 2019
The leading group of the development of the Guangdong-Hong Kong-Macao Greater Bay Area has issued “A 3-year Action Plan for Building the Guangdong-Hong Kong-Macao Greater Bay Area (2018-2020)” on 5 July 2019.
The action plan proposes the implementation of 100 key measures across 9 areas, including the optimising development structure, building an international science and technology innovation centre, establishing a modern infrastructure system, coordinating the building of a globally competitive modern industrial system, pushing development of ecological civilisation, building a quality circle for living, working and travelling, accelerating a new pattern of overall opening up, jointly developing a regional cooperation platform and supporting policies and measures.
The plan would be of great importance to promoting and facilitating investments in the region, with the expansion of business scope of financial institutions in Hong Kong and Macao and the expansion of market access for professional services such as education, culture, medical care, law, construction and transportation etc. In addition, it would also strengthen the financial support for scientific and technological innovation, by striving for the use of science and technology funds in Hong Kong, setting up research funds and opening up application channels to enterprises in Guangdong-Hong Kong-Macao Greater Bay Area for such funding. They will also implement electronic cross-border commercial registration for Guangdong-Hong Kong-Macao enterprises.