The Outline of the Plan for the Development of the Greater Bay Area of Guangdong, Hong Kong and Macao, the Fourteenth Five-Year Plan for the National Economic and Social Development of the People's Republic of China and the Outline of the Visionary Goals for 2035, proposes to support the formation of an international center for science and technology innovation in the Guangdong, Hong Kong and Macao Bay Area, and to establish it as a global highland of scientific and technological innovation and an important source of emerging industries. First, let's look at the dynamics of science and technology innovation and emerging industries.
Over the past three years, the Greater Bay Area has been placing science, technology, innovation and intelligence at the center of its development. Currently, the intensity of R&D investment in the Greater Bay Area is 2.75%, close to that of the United States (2.83%), and the scale of innovation output is expanding, although there are problems to be solved in terms of unbalanced R&D investment and shortcomings of high-level scientific research institutions.
In terms of emerging industries, the number of emerging enterprises in the Greater Bay Area accounts for 23.2% of the total number of enterprises, and has formed a certain scale and aggregation trend, the new generation of information technology industry belt on the east bank of the Pearl River, the high-end equipment manufacturing industry belt on the west bank of the Pearl River is beginning to take shape, and with the reduction of reliance on imports, the future of emerging industries is expected to give birth to world-class enterprises and form emerging industry clusters with global influence.
In terms of landing, the market noted that although the development of various science and innovation industries and smart parks is in full swing, there are problems such as poor investment results, excessive parks, and lack of craftsmanship by some participants. Into 2022, these structural problems in the policy and market adjustments, as well as in the supply and demand slowly balanced gradually tend to be reasonable, will be alleviated to a certain extent.
Finance is the core of a modern economy, and when finance is alive, the economy is alive, so let's focus on the financial dynamics of the Greater Bay Area. The launch of the "cross-border wealth management" is an important step in the construction of a new pattern of high-level opening up of the integration of Guangdong, Hong Kong and Macao, and with the introduction of more supportive policies, the financial ecology of the Greater Bay Area will show new changes. All major financial platforms and financial institutions are increasing their presence in the Greater Bay Area, and financial subsidiaries and financial technology subsidiaries are being established. Against the backdrop of a slowly opening up of the financial sector in both directions, market participants are presented with development opportunities. However, in the face of the unique pattern of one country, two systems, three currencies, and three tariff zones, breaking down barriers to distribution, regulatory barriers, and talent barriers has become the key to development.
In September 2021, the People's Government of Guangdong Province released a document on the plan to build an international commercial bank for the Guangdong-Hong Kong-Macao Greater Bay Area, which is expected to promote the accelerated development of the Bay Area in the areas of mutual recognition of financial infrastructure, financial risk control and compliance, and to facilitate the interconnection of the financial markets in the Bay Area. In addition, it can also take advantage of the financial technology track to facilitate investment and financing in the Greater Bay Area with the help of big data and cloud computing. It is believed that there will be more open cross-border investment innovation channels, market participants in the main body has been lined up in the Greater Bay Area, with a view to the trend of financial integration in the Greater Bay Area to find the development of the first opportunity.
Finally, and also a very critical one, is the integration dynamics of the Greater Bay Area, whether or not the linkage development, interoperability determines the prospects of the Greater Bay Area. Over the past three years, the Greater Bay Area has had the concept of city clusters and metropolitan areas, and the next will be the concept of economic zones. Shenzhen Qianhai, Guangzhou Nansha, Zhuhai Hengqin and Hong Kong's northern metropolitan area is now more attention to the four major hubs of the economic sector.
The emergence of the northern metropolitan area of Hong Kong, which focuses on the technology industry, will join hands with Shenzhen to create a metropolitan area alongside the Victoria Harbor metropolitan area; in September last year, the State formally announced that the whole sea from the original 14.92 square kilometers to 120.56 square kilometers, so that the cooperation between Shenzhen and Hong Kong to a new level; Hengqin, Guangdong and Macao depth of cooperation in the area of the construction of the construction of Macau, on behalf of Macao and Zhuhai **** with the development of Hengqin's footsteps The opening of a new rhythm; and the Shenzhen Development and Reform Commission recently issued a public tender on the "Qianhai and Zhongshan Cuiheng and Dongguan Binhai Bay linked development and construction program research" subject announcement, releasing Shenzhen, Zhongshan, Dongguan linked development and construction of the signal.
Policy in the "tear down the wall", the transportation in the "connection", the Shenzhen River Railway, Lion and Ocean Passage, the Shenzhen-Zhongshan Passage, etc. will be the Bay Area in history for the first time so high-speed connection to together. A wall is removed, a channel is built, and the sea is no longer an obstacle. The Bay Area will become a spatially interconnected "big city", and in 2022, this integration will usher in a new phenomenon.
If the early days of reform and opening up of the Pearl River Delta city vassals is the Bay Area 1.0 era, the 2019 "Outline of the Plan for the Development of Guangdong, Hong Kong and Macao Bay Area" so that the initial integration of the Pearl River Delta cities is the Bay Area 2.0 era, then break the administrative barriers, road and bridge interoperability, close integration of the industry is the Bay Area 3.0 era. 2022, or it will be this The year 2022 may be the starting point of this "borderless" 3.0 Greater Bay Area.