Business
22:49, 28-Jun-2017
China’s regional economic powerhouse coming
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China is drawing up plans to develop a regional economic powerhouse that links the Chinese mainland with Hong Kong and Macao, as part of the Belt and Road Initiative. CGTN’s correspondent Liling Tan looks at two of the biggest bay area economies in America to illustrate what China’s vision might involve.
China’s plans to connect Guangdong, Hong Kong and Macao into a massive Bay Area economy will make this southern Chinese region among the world’s biggest city clusters. The 11 cities are home to some 67 million people, have a combined GDP of 1.3 trillion dollars, and cover 56,000 square kilometers.
Some industry players have compared it to the San Francisco Bay Area. But China’s Bay Area project will cover more ground, generate nearly twice as much in GDP, and house nearly eight times more people.
The New York metropolitan area is comprised three different states: New York, New Jersey, and Connecticut. And just like China, the Regional Plan Association is also rolling out a new vision for the future for this metropolitan area.
And a shared challenge may be how to connect competitive cities so they can leverage on their collective strengths.