7 Tasks of GBA｜Path of modern industries development in Greater Bay Area (Part II)

Published : 05/06/2024

Industry in GBA｜Dongguan-Hong Kong International Airport Centre

Cross-border logistics is an important field within the modern service industry.

The "Hong Kong-Dongguan International Airport Centre", located in the Dongguan Humen Port Comprehensive Bonded Zone, officially began operations in April 2023, pioneering the "upstreaming of cross-border security screening" sea-air intermodal transport model, which extends the scope of Hong Kong Airport's cargo services cross-border into Dongguan, opening up a new channel for "Made in the Bay Area" products to reach the world.

In the past, if goods from the Chinese Mainland needed to be exported via Hong Kong airport, they first had to undergo customs clearance procedures locally, be transported by land via the Shenzhen port to the Hong Kong airport cargo terminal, and after another security check, be "palletised" according to unified international standards, before they could be loaded into the aircraft's cargo hold to be flown to various parts of the world.

After the airport centre was commissioned, goods from the Chinese Mainland can undergo "one-stop" security screening and customs declaration procedures in Dongguan and then be directly transported to Hong Kong airport to be arranged for departure, directly reaching 220 countries and regions globally.

In the year since its opening, the value of imports and exports at the Hong Kong-Dongguan International Airport Centre has exceeded 3.8 billion RMB, with logistics costs reduced by 30% and time efficiency increased by 20% compared to the past.

The Development Plan proposes to advance the cooperative development of logistics in the Greater Bay Area, vigorously develop third-party and cold chain logistics, enhance the level of supply chain management, and build an international logistics hub.

Over the past five years, a series of new logistics channels, models and technologies has been launched, ensuring the continuous smooth flow of the multi-dimensional "water, land, rail and air" logistics corridor.

Industry in GBA｜Guangzhou Green Finance Reform and Innovation Pilot Zone

Located along the metro line on Yingbin Avenue in Huadu District, Guangzhou, the "Guangzhou Green Finance Street" is 600 metres long and is one of China's first special pilot projects for green finance approved by the State Council, as well as being the first green finance reform and innovation pilot zone in South China.

Green Finance (Green Financing) refers to investment and financing activities, financial products, and financial services that can support "environmental sustainability".

As the core area of the pilot zone, Huadu District has formulated and implemented supporting policies for the development of green finance and green industries, offering financial rewards for green industries and financial institutions to set up operations, and providing financial subsidies for carrying out green finance businesses such as green credit, green bonds, and green insurance.

To date, the pilot zone has produced a number of nationally pioneering cases, including being the first in the country to launch the green finance-supported "insurance + futures + bank" programme for live hogs, the first to pilot "innovative drug replacement liability insurance", and the first to release the nation's inaugural carbon credit report.

11 typical cases from Huadu District have already been included in the People's Bank of China's first "Compilation of Cases of Green Finance Reform and Innovation", providing experience for replication and promotion.

Financial services for the real economy are an important support for building a modernised industrial system. The "Outline Development Plan" mentions vigorously developing specialised financial industries, and this includes green finance.

Of the 112 green finance reform and innovation cases announced by the head office of the People's Bank of China in 2022, 20 were cases innovatively formed by Guangzhou, ranking it first among all pilot zones.

Read more: GBA at a Glance｜How was GBA established?

Industry in GBA｜CIMC Group, Nanshan District, Shenzhen

Headquartered in Nanshan District, Shenzhen, CIMC Group is the world's largest container manufacturer and also one of China's leading marine engineering enterprises.

Its subsidiary, CIMC Raffles, independently developed the ultra-deepwater semi-submersible drilling platforms "Blue Whale 1" and "Blue Whale 2", which are considered to represent the highest level of design and construction of marine drilling platforms in the world today.

In 2017, "Blue Whale 1" successfully extracted "combustible ice" from the deep sea of the South China Sea, marking a first for China and even the world.

In 2020, "Blue Whale 2" conducted another successful extraction, setting world records for both average daily output and total output. "Combustible ice", also known as "natural gas hydrate", is hailed as one of the ideal clean energy sources of the 21st century.

Read more: 7 Tasks of GBA｜Path of modern industries development in Greater Bay Area (Part I)

The Outline mentions co-ordinated land and sea development, scientific development, strengthening cooperation among Guangdong, Hong Kong, and Macao, expanding the blue economy space, and jointly building a modern marine industrial base.

Over the past five years, Shenzhen has initially formed a comprehensive industrial chain for high-end marine equipment, covering the upstream, midstream, and downstream sectors of design and R&D, final assembly and construction, and application.

The Guangdong Marine Economy Development Report (2023) shows that Guangdong's gross ocean product has ranked first in the nation for 28 consecutive years.

In 2022, Guangdong's gross ocean product was RMB 1.8 trillion, a year-on-year increase of 5.4%, accounting for 14% of the province's GDP. The marine economy has injected a continuous stream of "blue momentum" into Guangdong's economic development.

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