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Studies on China’s Special Economic Zones 4How Can the Guangdong-Hong Kong-Macao Greater Bay Area Expedite a New System of Opening-Up?

Studies on China’s Special Economic Zones 4: How Can the Guangdong-Hong Kong-Macao Greater Bay... [The opening and rise of the Guangdong-Hong Kong-Macao Greater Bay Area has become strategically important due to the changes in the global economic landscape. The emerging free economic zones are growing to be the primary driving force for globalization. The Greater Bay Area can learn from the international experience and provide a reference for a wider opening-up of China. The free ports of Hong Kong and Macao, the China (Guangdong) Pilot Free Trade Zone, the integrated bonded area, the Zhuhai-Macao Cross-Border Industrial Zone, supervised export warehouses and bonded warehouses make up the infrastructure for free trade in the Greater Bay Area, which requires further institutional innovation. Innovation to the immigration policy driving the free movement of people is an important content for the further opening-up of the Greater Bay Area. The core of financial opening-up lies in the creation of high-quality investment-grade assets and reduction of barriers to transactions. The core partnership with ASEAN is favorable to broadening the scope of influence of the free economic zone. The mainland cities represented by Guangzhou and Shenzhen must compete with strengths, drive Hong Kong and Macao to be more open, and jointly build a competitive platform for the international market.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Studies on China’s Special Economic Zones 4How Can the Guangdong-Hong Kong-Macao Greater Bay Area Expedite a New System of Opening-Up?

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Publisher
Springer Singapore
Copyright
© Social Sciences Academic Press 2021
ISBN
978-981-16-5631-6
Pages
209 –224
DOI
10.1007/978-981-16-5632-3_12
Publisher site
See Chapter on Publisher Site

Abstract

[The opening and rise of the Guangdong-Hong Kong-Macao Greater Bay Area has become strategically important due to the changes in the global economic landscape. The emerging free economic zones are growing to be the primary driving force for globalization. The Greater Bay Area can learn from the international experience and provide a reference for a wider opening-up of China. The free ports of Hong Kong and Macao, the China (Guangdong) Pilot Free Trade Zone, the integrated bonded area, the Zhuhai-Macao Cross-Border Industrial Zone, supervised export warehouses and bonded warehouses make up the infrastructure for free trade in the Greater Bay Area, which requires further institutional innovation. Innovation to the immigration policy driving the free movement of people is an important content for the further opening-up of the Greater Bay Area. The core of financial opening-up lies in the creation of high-quality investment-grade assets and reduction of barriers to transactions. The core partnership with ASEAN is favorable to broadening the scope of influence of the free economic zone. The mainland cities represented by Guangzhou and Shenzhen must compete with strengths, drive Hong Kong and Macao to be more open, and jointly build a competitive platform for the international market.]

Published: Jan 1, 2022

Keywords: Guangdong-Hong Kong-Macao greater bay area; Immigration; Finance; Free economic zone

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