Page 143 - 大舜基金（十周年紀念特刊）

Hong Kong’s future is closely domestic and foreign situations. With the support
related to Greater Bay Area from the provincial government, various industries
and cities are deeply integrated. For example,
when manufacturing and export industries suffered
2020 has been a challenging year for most severely from COVID-19, Guangdong has reduced
countries. The abruptly overwhelming pandemic has the RRR (Reserve Requirement Ratio), lowered
cornered everything within the economic domain key interest rates, provided special refinancing to
into the predicament of stagnancy, ranging from key enterprises and allowed temporarily deferred
economic growth to production lines. With different repayment of principal and interest, in order to
COVID-19 virus variants found all over the world, encourage financial agencies to cut off fees and
the contagiousness builds up with the variations. In surrender part of their profits, as well as pushing
this case, even with vaccination schemes carried out forward the integration of the financial sector
effectively and quickly, the economy might still need within the bay area. Apart from that, 2020 has also
time to react and get back on track. witnessed the development of Shenzhen-Hong Kong
Innovation and Technology Co-operation Zone,
Luckily when other countries are baffled with Hengqin’s special business registration procedures,
COVID-19 and its aftermaths, factories in China the business mediation centre of the Greater Bay
were able to resume production after stoppage Area, and so on.
and the economy started to rebound, thanks to
the resolute and strict measures adopted by the At the Fourth Session of the Thirteenth National
Chinese government to hold back the spread of the People’s Congress earlier this year, Governor of
pandemic. Among all the main economies globally, Guangdong Ma Xingrui brought forward a framework
China is the only country with a positive growth; of future development of the bay area, including
besides, China has surpassed the United States to taking measures to make a convenience for practice
become the largest recipient of FDI (Foreign Direct of professional services of Hong Kong and Macao
Investment) in 2020. in Guangdong, such as legal services, medical
services, construction and engineering services, and
It is noticeable that in 2020, the performances of etc. It is predictable that the industrial integration
cities within the Greater Bay Area were better than the among cities within the bay area will be greatly
average level of the whole country. The GDP (Gross accelerated when the pandemic ends.
Domestic Product) growth of Guangdong Province
was 2.3% over the year, reaching 11 trillion Yuan. As a key bridgehead of the 21 Century Maritime
st
This amount has even dwarfed that of South Korea, Silk Road of the Belt and Road Initiative and the
the biggest economy among the Four Asian Tigers “external cycle” of dual circulation, the Greater
(South Korea, Taiwan, Singapore and Hong Kong). Bay Area enjoys a wealth of opportunities and
This marks the completion of the expectation of Deng gains if functioned properly. Hong Kong, as an
Xiaoping during his southern tour back in 1992. open economy enjoying the closest relation with
international societies, markets and industries in
The economy and industrial chains of the Greater the bay area, can act as an important role linking
Bay Area are strong and indomitable to resist against up mainland enterprises and global markets. The
adversity, and I truly believe that Hong Kong’s future process of cooperative interaction with surrounding
after the pandemic will be more and more closely cities will also be beneficial to Hong Kong, injecting
related to the bay area, by complying with the trend innovative motion into our economy, giving impetus
of inclusive development. to the upgrading and transformation of Hong Kong
society and industries, and eventually solving the
Ever since the proposal of the Guangdong-Hong long-existing core problems of our city.
Kong-Macao Greater Bay Area, Guangdong Province
is sparing no efforts to develop the area and take
opportune measures according to the changing

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