Zhaoqing, the Greater Bay Area’s biggest, poorest city, ‘may offer best opportunities’ in tourism, health care and retirement

Zhaoqing, which covers 27 per cent of the bay area, is starting from a low base, which gives it huge growth potential in certain sectors, says head of Hong Kong Institute of Securities Dealers

The city has been attracting entrepreneurs and start-ups too: Chinese Tesla challenger Xpeng has secured a production licence for its 10 billion yuan (US$1.47 billion yuan) factory there

Reading Time:2 minutes

Zhaoqing is by far the largest geographically of the bay area cities. Photo: Shutterstock

Published: 5:15pm, 1 Sep 2020Updated: 9:25pm, 1 Sep 2020

Zhaoqing, the biggest of the 11 Greater Bay Area cities by area, is tapping start-ups as well as operators of tourism, property and retirement facilities with the promise of its low costs and scenic environment, according to the head of a stockbrokers’ industry body.

The city located in the western part of Guangdong has been attracting young entrepreneurs from the mainland and Hong Kong to establish their start-up businesses. The most well-known is Chinese Tesla challenger Guangzhou Xiaopeng Motors Technology (Xpeng), which in May secured a production licence for its 10 billion yuan (US$1.47 billion yuan) factory in Zhaoqing, before its listing in the US last month.

CLP, Hong Kong’s largest power utility and the biggest of the two electricity companies, has since 1997 invested 480 million yuan in Huaiji hydropower plant in Zhaoqing.

More recently, Hong Kong-listed mainland Chinese developer Agile announced plans to build a “Hong Kong town” in Zhaoqing to appeal to Hongkongers wanting to live or retire there.

And the Open University of Hong Kong in April signed an agreement with Zhaoqing government to set up in the city.