According to a senior official, a draft plan to turn the Guangdong-Hong Kong-Macao greater bay area into the world's largest bay area in terms of GDP by 2030 has been filed with the national economic planner.
The plan for the development of a city cluster in the greater bay area, covering the majority of China's Cantonese-speaking regions, was forwarded to the National Development and Reform Commission at the end of June, said Wu Weibao, deputy head of Guangdong's development and reform commission.
"Compiled by the provincial development and reform commission and national think tanks, including the China Center for International Economic Exchanges (CCIEE), the plan sets the targets, development directions and major tasks for the area," Wu said.
The greater bay area will cover Hong Kong and Macao special administrative regions, and nine cities in Guangdong province including the first-tier cities of Guangzhou and Shenzhen.
"By 2020, the Guangdong-Hong Kong-Macao greater bay area is planned to become one of the world's top-level bay areas and form the basic framework for a world-class city cluster," said Zhang Xiaoqiang, CCIEE executive deputy head.
By 2030, the area is expected to have the highest GDP among all bay areas worldwide, and become an advanced manufacturing center, as well as an important global hub of innovation, finance, shipping and trade, he added.
"The area will see substantial improvement in its strength in global cooperation and competition, and ascend to the front of world-renowned city clusters by 2030," Zhang said.
The plan includes major infrastructure projects, important development platforms, and major economic and trade cooperation that will have impacts beyond the area, he added.
A framework agreement on the development of the greater bay area was signed by central and local officials on July 1, the 20th anniversary of Hong Kong's return to the motherland.
Under the agreement, Guangdong, Hong Kong and Macao will improve collaboration mechanisms and facilitate win-win cooperation to build a world-class bay area and city cluster. (Source: China Daily)
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