Today is the 42nd anniversary of the principle of "One Country, Two Systems," a basic long-term policy for sustaining prosperity and stability following the return of the Hong Kong Special Administrative Region and the Macao Special Administrative Region.

China will continue to support the long-term prosperity and stability of the Hong Kong and Macao special administrative regions. The development of the Guangdong-Hong Kong-Macao Greater Bay Area is a further step in furthering the practice of "One Country, Two Systems."

In July 2017, Guangdong Province and the Hong Kong and Macao special administrative regions signed the Framework Agreement, which sets out the key cooperation areas. The Outline Development Plan promulgated in February 2019 signified a new milestone in the development of the bay area.

The bay area comprises the Hong Kong and Macao special administrative regions and nine cities in south China's Guangdong Province: Guangzhou, Shenzhen, Zhuhai, Foshan, Huizhou, Dongguan, Zhongshan, Jiangmen and Zhaoqing.

Covering a total area of 56,000 square kilometers, the bay area had a combined population of over 86 million in 2022, and its GDP reached over 13 trillion yuan ($1.83 trillion) within the same year. Twenty-five companies from the bay area were listed in 2023 Fortune Global 500.