China has recently laid out its plans for the Greater Bay Area. These plans are designed to guide the future development of the 70 million-strong economic region surrounding Hong Kong. This immense terrirorial economy, composed of Hong Kong, Macao, Guangzhou and Shenzhen currently produces 37% of China’s exports.
The Hong Kong – Zhulai – Macao Bridge, pictured above, was inaugurated in October 2018. It is a crucial component that unifies the vast infrastructure network of the Greater Bay Area.
While Hong Kong, according to the Greater Bay Area Plan, will maintain its status as a finance and trade centre, Shenzhen is intended to become a vital technology hub and one of the prominent Special Economic Zones. These Zones essentially act as liberal economic environments, which promote innovation and development.
Special Economic Zones (SEZ) were first launched in 1980 by the Chinese government. At that time Shenzhen was a small fishing village of 30’000 inhabitants. Today Shenzhen is a metropolis with a population of 12 million, which produces China’s fourth highest GDP income after Beijing, Shanghai and Guangzhou.
Based on a well-conceived strategy of city governance and controlled development, Shenzhen has become an enormous success story as the first of China’s Special Economic Zones.
Shenzhen is prominent today as an incubator hub for high-tech and similar companies. It also plays a very important role as a test bed for future developments in the Greater Bay Area.
“We are in the midst of vast and promising developments, which have grown out of China’s Greater Bay Area plans” commented Mr Antonio Marelli, adding “The vast Shenzhen metropolis has now emerged as one of our key targets for product sales in China”.