BEIJING is forging closer links between Hong Kong, Macao, Shenzhen and all of Guangdong Province in what is known at the greater Bay Area (GBA), reports Singapore's Splash 247 .
First conceived in 2017, the GBA concept is up there with the Belt Road Initiative in terms of mega, overarching economic plans laid out during the tenure of Xi Jinping as leader of China.
The Guangdong-Hong Kong-Macao Greater Bay Area comprises the two Special Administrative Regions (SARs) of Hong Kong and Macao, and the nine municipalities of Guangzhou, Shenzhen, Zhuhai, Foshan, Huizhou, Dongguan, Zhongshan, Jiangmen and Zhaoqing in Guangdong Province.
The total area is around 56,000 square miles, population 86 million and the combined GDP last year stood at US$1.68 trillion, bigger than many G20 economies.
Many in Hong Kong's shipping community have accepted this new political directive, setting up offices across the border in Guangdong.
Hing Chao, chairman of shipowner Wah Kwong, has a fast growing ship management division based in Shenzhen. He said Hong Kong is acting as a 'super-connector' between China and the world leading maritime development across the GBA.
Similarly bullish is Angad Banga, the chief operating officer of the Caravel Group. 'With the GBA's focus on logistics and shipping, Hong Kong will gain exposure to a whole new world of opportunities that will enable further development of specialised services such as marine insurance and ship finance,' Mr Banga said.
Hong Kong Chief Executive Carrie Lam outlined the government's desire to boost Hong Kong's status as an international transportation centre with plans underway to build a 'smart port' and promote wider application of digital technology in maritime and port operations.
Wellington Koo, executive director at Valles Steamship, believes the GBA holds the potential to resolve certain structural issues, in particular the shortage of land and manpower resources, which over the years has limited maritime development in Hong Kong.
Said Credit Agricole Asia Ship Finance CEO Kenneth Lam: 'Shenzhen is the Silicon Valley of China and there must be a lot of synergies within the GBA to come up with financially viable technologies to address decarbonisation and ESG issues.'
SeaNews Turkey
First conceived in 2017, the GBA concept is up there with the Belt Road Initiative in terms of mega, overarching economic plans laid out during the tenure of Xi Jinping as leader of China.
The Guangdong-Hong Kong-Macao Greater Bay Area comprises the two Special Administrative Regions (SARs) of Hong Kong and Macao, and the nine municipalities of Guangzhou, Shenzhen, Zhuhai, Foshan, Huizhou, Dongguan, Zhongshan, Jiangmen and Zhaoqing in Guangdong Province.
The total area is around 56,000 square miles, population 86 million and the combined GDP last year stood at US$1.68 trillion, bigger than many G20 economies.
Many in Hong Kong's shipping community have accepted this new political directive, setting up offices across the border in Guangdong.
Hing Chao, chairman of shipowner Wah Kwong, has a fast growing ship management division based in Shenzhen. He said Hong Kong is acting as a 'super-connector' between China and the world leading maritime development across the GBA.
Similarly bullish is Angad Banga, the chief operating officer of the Caravel Group. 'With the GBA's focus on logistics and shipping, Hong Kong will gain exposure to a whole new world of opportunities that will enable further development of specialised services such as marine insurance and ship finance,' Mr Banga said.
Hong Kong Chief Executive Carrie Lam outlined the government's desire to boost Hong Kong's status as an international transportation centre with plans underway to build a 'smart port' and promote wider application of digital technology in maritime and port operations.
Wellington Koo, executive director at Valles Steamship, believes the GBA holds the potential to resolve certain structural issues, in particular the shortage of land and manpower resources, which over the years has limited maritime development in Hong Kong.
Said Credit Agricole Asia Ship Finance CEO Kenneth Lam: 'Shenzhen is the Silicon Valley of China and there must be a lot of synergies within the GBA to come up with financially viable technologies to address decarbonisation and ESG issues.'
SeaNews Turkey
