This year’s GoGBA Development Day gathered more than 400 business representatives to explore opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and wider Chinese Mainland under the national 15th Five-Year Plan.

The event, themed “Capturing Opportunities in the GBA under the 15th Five-Year Plan”, brought together government representatives, business leaders, innovation and technology experts and entrepreneurs from Guangdong, Hong Kong and Macao.

Secretary for Constitutional and Mainland Affairs Janice Tse said the GBA is a major national development strategy. With the 15th Five-Year Plan under way and Hong Kong’s first Five-Year Plan formally released, she said Hong Kong’s development should be considered across three overlapping spheres: the GBA, the country and international markets.

Connecting GBA and global business

For companies outside the Mainland, Hong Kong provides a base for exploring the GBA, backed by a network offering business information and advice.

Launched by the Hong Kong Trade Development Council (HKTDC) in 2021, the GoGBA business support programme provides free online and offline support to companies from Hong Kong and around the world seeking opportunities in the GBA. Alongside service centres in Shenzhen and Guangzhou, 11 GoGBA Business Support Centres create a network covering the entire region.

Greater Bay Area Development Commissioner Pamela Lam said integration had continued to accelerate, while the Hong Kong SAR Government would help more businesses make use of Hong Kong’s connecting role and work with other GBA cities to develop complementary strengths.

The connections work the other way too. As Mainland companies expand abroad, they can tap Hong Kong’s financial, trading and professional services and international networks to develop business overseas.

HKTDC Executive Director Sophia Chong said the 15th Five-Year Plan was injecting fresh momentum into the GBA.

“As more companies accelerate their international expansion and AI develops rapidly, Hong Kong can draw on its strengths as an international financial, trading and professional services centre to provide comprehensive support for businesses,” she said.

From overseas expansion to AI

The first of two panel discussions put that international dimension into a practical business context. Representatives from the Hong Kong Institute of Certified Public Accountants, Li & Fung Development (China) and BGI Group discussed how Hong Kong’s financial, trading and professional services can support Mainland enterprises as they build their international businesses.

A second discussion turned to another driver of growth: artificial intelligence. Experts from The Hong Kong Polytechnic University, the Hong Kong Science and Technology Parks Corporation and Geosys examined applications including robotics, smart cities and spatial data, and how businesses could harness AI to enhance competitiveness and find new avenues for growth.

The event also provided SMEs and start-ups with one-to-one consultations and business matching.

Companies can continue to access business information and advisory support through the GoGBA digital information platform and its branch network.

Further opportunities are also on the horizon. Ms Tse said dedicated GBA development sessions would be held at the 20th Asian Financial Forum and InnoEX events next year.