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Shared Prosperity in the Greater Bay Area: Collaboration and Advancement

2023-07-29 | Zéphyr

The Democratic Alliance for the Betterment and Progress of Hong Kong (DAB) conducted a visit to the Qingmao Port and Hengqin Port in Macau for inspection. (Photo by Li Jiuge from Ta Kung Pao Wen Wei Media)

“Coming together is a beginning. Keeping together is progress. Working together is success.” – These words, famously spoken by Henry Ford, embody the spirit of shared prosperity and resonate with the expansive journey of the Greater Bay Area. This monumental project, striving to create a world-class city cluster by 2035, is not just about economic integration or technological advancement, but fundamentally about shared prosperity and collaboration.

The Greater Bay Area (GBA) is a vibrant economic region encompassing Guangdong, Hong Kong, and Macau. It’s a captivating example of regional cooperation, an amalgamation of diverse resources, and a testament to the power of shared experiences and policies. The GBA’s success lies not only in its economic potential but also in its ability to leverage shared resources and experiences to foster growth and innovation.

Take the example of Shenzhen, the Silicon Valley of China. The city’s remarkable transformation from a small fishing village to a global tech hub is a testament to the power of shared resources and policies. Shenzhen’s success is owed largely to the “Reform and Opening Up” policy, which allowed it to attract foreign investment and become a pioneer in China’s technological advancement.

Moreover, the GBA’s approach to shared growth is not just about economic integration, but also about social inclusion. As Chinese President Xi Jinping once said, “Development is not just about the economy, but also about the people.” The GBA’s focus on people-centered development, with initiatives like the Guangdong-Hong Kong-Macau Greater Bay Area Talent Scheme, exemplifies this ethos.

However, the road to shared prosperity is not without its challenges. Balancing the different needs and expectations of the 11 cities in the GBA, managing the disparities in economic and social development, and fostering a sense of shared identity among a diverse population are significant hurdles.

The Greater Bay Area represents a bold venture into a new paradigm of regional cooperation, one that is built on the principles of shared prosperity. As the Chinese proverb goes, “If you want to go fast, go alone. If you want to go far, go together.” The Greater Bay Area’s journey is far from over, but its commitment to shared prosperity and collaboration offers a promising blueprint for the future.

Joaquim Leong