The Greater Bay Area has huge financial development potential
Updated 10:38, 20-Feb-2019
Hu Binyi
["china"]
04:08
The finance sector stands as one of the most vital industries in the Guangdong-Hong Kong-Macao Greater Bay Area, and experts said the government's newly announced development plans for the region offer significant room for growth. 
Cities within the region have different advantages, like manufacturing and foreign trade in Guangzhou, high-tech companies in Shenzhen, financial services in Hong Kong. All these factors can be integrated under the Greater Bay Area framework to upgrade industries.
Hong Hao, Chief China strategist of BOCOM International Holdings in Hong Kong, commented the region is uniquely designed. Different from other big bay areas around the globe, the pattern of "one country, two systems", "three customs" and "four core cities" is the biggest feature of the Greater Bay Area.
“I would say many Asia listed stocks and Hong Kong stocks will have substantial percentage of revenue come from this region, probably the best return for shareholders,” Hong added.
While there is a bridge connecting the mainland, Hong Kong and Macau, Hong said there are still some challenges. For employees of Hong Kong, Macau or western countries, a visa is necessary to work in the mainland. Hong also pointed out that it takes long time to pass visa checking gates.
“Once the capital, human and goods flow in this region freely, the potential of this region is huge,” he said.
Hong told CGTN that Hong Kong still leads in financial infrastructure, especially raising capital for IPO financing. And with China's further opening up, the Greater Bay Area will enjoy a bright future.