The EY Synergize GBA Forum 2022 (the Forum), organized by EY Greater China Region (EY) and co-organized by Invest Hong Kong – a department of the Government of Hong Kong Special Administrative Region (HKSAR) – and the Shenzhen Foundation for International Exchange and Cooperation (SFIEC), has concluded successfully today in Hong Kong and Shenzhen. It is the second year in a row EY is organizing the Forum which is also an event for the celebration of the 25th anniversary of the establishment of the HKSAR.
Themed "Igniting GBA opportunities through embracing resilience", the Forum has invited Jiang Likun, Director General of the Leading Group Office for Development of Guangdong-Hong Kong-Macao Greater Bay Area of CPC Shenzhen Municipal Committee (Hong Kong & Macao Affairs Office of Shenzhen Municipal People’s Government); Huang Xiaopeng, Deputy Secretary of CPC Work Committee of Qianhai Cooperation Zone, First Deputy Director-general of Qianhai Authority; Michael Wong, Deputy Financial Secretary, HKSAR Government; Stephen Phillips, Director-General of Investment Promotion, Invest Hong Kong, HKSAR Government and representatives from Guangdong-Hong Kong-Macau Greater Bay Area (GBA) research institutes, academies and corporates to discuss the development opportunities and prospects in the GBA.
Jack Chan, EY China Chairman and Greater China Regional Managing Partner, said that the GBA development is a major national strategy which serves as an important strategic stronghold for building a new development paradigm in the latest stage of development. Remarkably, over the past three years since the Outline Development Plan for the GBA was released, there has been deeper cooperation between Guangdong, Hong Kong and Macau, which underpins further policy development supporting deepened integration within the GBA. Hengqin in Zhuhai, Qianhai in Shenzhen, Nansha in Guangzhou, Hong Kong and Macau will form a platform for synergized development and cooperation within the GBA. Eleven cities in the GBA will jointly develop a high-standard gateway to open up to the outside world and explore new growth drivers. This year also marks the 55th anniversary of the EY Greater China Region. EY will also increase investment in resources and bring capabilities across Guangdong, Hong Kong and Macau to deliver intelligent solutions to promote the interconnection among 11 cities within the GBA, supporting a new paradigm embracing inclusiveness, mutual learning and synergetic development.
Stephen Phillips, Director-General of Investment Promotion, Invest Hong Kong, shared at the Forum that with its role to attract and retain foreign direct investment to Hong Kong, including from the Mainland, Invest Hong Kong has set up a GBA team, which works hand-in-glove with its sector teams and colleagues in 33 worldwide locations to help companies identify what GBA means for them and the steps they can take. Within its Innovation & Technology sector cluster, Invest Hong Kong has a small team for Innovation & Technology in the context of GBA, working closely with the team in Guangzhou and an array of stakeholders. Their role is to support two-way Innovation & Technology investment into and out of the GBA via Hong Kong to the rest of the world. Invest Hong Kong weaves the GBA story into all of its investment promotions and has established a pan-GBA inward investment liaison group, comprising Invest Hong Kong and its counterparts in other GBA cities.
Grace Li, Secretary General, SFIEC commented that the Forum had brought together various experts in the GBA to address key issues including economic transformation and industrial upgrading in Guangdong, Hong Kong and Macau. The exchange of thoughts would inject new impetus to the GBA development.
William Huang, EY China South Managing Partner, shared in the Forum that, the GBA is the only city cluster with “one country, two systems, three customs territories, three currencies, three legal systems and four core cities”. Under China's new development pattern, the GBA should make use of the institutional advantages and drive the country toward a higher-level of opening-up and a high-quality development. Guangdong, Hong Kong and Macau should further integrate and align the systems and regulations to accelerate the regional integration. At the same time, governments, academies and corporates should work together to create a talent pipeline with international horizons and local experiences to enable more flexible talent flow within Guangdong, Hong Kong and Macau. As an active supporter and participant in the development of the GBA, the EY teams work with cities and corporate clients in the GBA, and leverage on the GBA’s advantages in technological innovation, finance and green development, to realize the vision of the GBA in the new era.
The speakers shared insights, experiences and advices on their respective industries and provide intelligence on the integration and innovation of the GBA at the fireside chats “Data empowerment – opportunities and challenges of digital economy and industrial upgrade in the GBA” and “New business opportunities empowered | Cross-boundary data going live in the GBA and beyond”, as well as the panel discussions “Driving GBA development – ESG and sustainable finance” and “Developing the health industry ecosystem in the GBA: landscape, innovation and entrepreneurship”.
Jasmine Lee, EY Hong Kong and Macau Managing Partner, in the closing remarks gave four recommendations on how the business community can contribute to the future development of the GBA. Firstly, to embark on cooperation in the development of the GBA. Secondly, to embrace changes and challenges amid uncertainty. Thirdly, especially for corporates investing in the GBA, to engage in monitoring the industry trend and at the same time consolidate internal strengths to participate in the high-quality development in the GBA. Lastly, to share experiences which inspire and impress. This is also the intention EY is organizing the Forum. She also said that looking forward, the integration and development of the eleven cities within the region could be accelerated by a more precise regional strategic planning, smoother coordination of policies, and an optimized industrial distribution. EY believes that, by gathering strengths of all GBA cities, the region will become a significant driver for the country’s “dual circulation” development paradigm.
Representatives from the Employer’s Federation of Hong Kong, GBA Business School, GBA Carbon Neutrality Association, Greater Bay Area International Information Technology Industry Association, Hong Kong General Chamber of Commerce, Hong Kong Polytechnic University, Shenzhen Association of Trade in Services, Shenzhen Supply Chain Finance Association, Tsinghua Shenzhen International Graduate School and Urban Land Institute attended the Forum.
Event highlights: https://eygba.vapps.me
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