Published : 31/01/2025
What needs to be done for the development of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA)?
In Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area (the Development Plan), mentions seven major tasks.
This series examines achievements across seven areas, spotlighting the Belt and Road cooperation platforms in the GBA cities in this article.
International Finance Forum (IFF) Permanent Site
The International Finance Forum (IFF) Permanent Site in the Nansha Free Trade Zone of Guangzhou (the "IFF Permanent Site") is one of the landmark projects for the development of GBA.
Opened in 2023, it has been positioned as a global hub for dialogue on new finance and Belt and Road co-operation. The International Finance Forum is a high-level permanent dialogue platform and multilateral co-operation body in the global financial sector.
The Nansha New Area Free Trade Zone, where the IFF Permanent Site is located, is one of the three major areas of the Guangdong Free Trade Zone.
It is committed to building a law-based, international business environment that is compatible with the new international system of rules, with highlights including shipping, financial services, and cooperation in science and technology innovation.
As of June 2024, Nansha has cumulatively launched 55 reform measures for government services, and the list of exemption items in the "Certificate-Free Free Trade Zone" has been expanded to 398.
In 2023, it attracted 132 newly signed projects and introduced 29 new investment projects from Fortune 500 companies.
The Development Plan points out the need to create a globally competitive business environment, including establishing institutional rules that are compatible with high-international-standard investment and trade rules and reducing administrative intervention, among others, to provide strong support for the construction of the Belt and Road.
The South China Sea Institute of Oceanology
The Belt and Road joint laboratory is a national platform for international scientific and technological co-operation, approved by the Ministry of Science and Technology and established with reference to the framework used for national key laboratories. It has been included in China's eight major steps to support high-quality Belt and Road cooperation.
As of 2024, six Belt and Road joint laboratories had been approved for establishment in GBA. One of them is the China-Sri Lanka Joint Laboratory on Tropical Marine Environment, supported by the South China Sea Institute of Oceanology under the Chinese Academy of Sciences.
The Sri Lanka Marine Meteorological Forecasting System developed by the laboratory has played a key role in local disaster prevention and mitigation, as well as in emergency response to unexpected incidents.
In addition, Guangzhou, Shenzhen and other cities have set up a number of Belt and Road science and technology co-operation platforms, including the China-ASEAN International Joint Research Centre for Soil and Water Conservation under the Guangdong Academy of Sciences, and Shenzhen-based BGI's Global Innovation Centre.
The China-PSC Platform Complex
The Complex of the Commercial and Trade Co-operation Service Platform for China and Portuguese-speaking Countries in Macao (the "China-PSC Complex") was completed and brought into operation in 2019.
It provides venue facilities for economic and trade exchanges, conferences and exhibitions, as well as business services, and also serves as a host venue for major events including the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries.
The Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Macao), commonly known as Forum Macao, was established in Macao in 2003.
It is hosted by China's Ministry of Commerce and organised by the Macao Special Administrative Region, with the participation of nine Portuguese-speaking countries, including Angola, Brazil and Portugal, and is aimed at strengthening economic and trade exchanges between China and those countries.
By 2024, Forum Macao had put in place a range of commercial and trade service mechanisms, including a distribution centre for food products from Portuguese-speaking countries, a business service centre for small and medium-sized enterprises between China and Portuguese-speaking countries, and an entrepreneur's federation.
According to official statistics, trade between China and Portuguese-speaking countries reached US$220.9 billion in 2023, equivalent to about HK$1.7 trillion.
The Development Plan states that Macao should make full use of its strengths in connecting with Portuguese-speaking countries and, by relying on the Commercial and Trade Co-operation Service Platform between China and Portuguese-speaking Countries, continue to develop the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Macao).
Shenzhen MSU-BIT University
Shenzhen MSU-BIT University, located in Longgang District, Shenzhen, was approved for establishment in 2016 and is China's first Chinese-foreign cooperative university using Russian as the language of instruction, with the hope of cultivating specialised talent for the construction and development of the Belt and Road.
In 2023, the university was selected to become a council member of the Belt and Road International Ceramic Education Alliance.
In recent years, many universities in Guangdong have established institutions related to the construction of the Belt and Road to offer advice and cultivate talent for the initiative.
For example, the Belt and Road Institute of Sun Yat-sen University, established in 2018, and the Institute for the Belt and Road and GBA at Jinan University, among others.