Opportunities coming for those ready to seize them

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Economically, there’s never been a more exciting time to be part of the Guangdong-Hong Kong-Macao Greater Bay Area. Comprising nine municipalities within Guangdong Province, plus the Special Administrative Regions of Hong Kong and Macao (known as the 9+2 cities), the Greater Bay Area is both geographically larger and more populous than the world’s other major bay areas, and boasts faster GDP growth, more air traffic, and greater port container-throughput.

With the recently announced blueprint for transforming the Greater Bay Area into an economic powerhouse, DBS Bank  is hosting the inaugural DBS Greater Bay Area Conference in Shenzhen on April 3, to help customers explore how best to leverage the opportunities and unlock the true potential of what is expected to be the biggest bay area economy in the world.

DBS estimates that, with a combined GDP of US$1.5 trillion, the economic strength of the Greater Bay Area is roughly equal to that of the entire Russian economy. The Greater Bay Area, with its vast hinterland, may not yet be on a par with other bay areas, like the San Francisco Bay area, metropolitan New York and greater Tokyo, as far as per-capita GDP is concerned; however, according to the Chinese Government’s Outline Development Plan (the Plan), the development of the Greater Bay Area is now opening up on all fronts, with full speed ahead.

The Greater Bay Area already has fundamental conditions that favour its development as a world-class international city-cluster. It has a distinctive geographical advantage, robust economic strength, a high concentration of young innovators, a deep international mindset and solid cooperation among the cities in this region. It is also important to keep in mind that Guangdong has long been among the fastest growing regions of China, thanks to the province’s pioneering role in opening up the nation. Yet, under the Plan, there are signs of a new wave of stimuli to the Greater Bay Area economy, and this has already taken shape with closer integration and connectivity.

In view of the expected economic growth, as well as the accompanying vast social changes in the Greater Bay Area, DBS sees a great opportunity to accelerate its business. Leveraging its strengths in Hong Kong and China, as well as across the region, DBS is driving its strategy to be a leading foreign bank serving the onshore and offshore needs of customers seamlessly. To do so, DBS is focusing on companies and industries unique to the Greater Bay Area, such as technology hardware and home appliances, auto, as well as their supporting industries.