How Great Is the Greater Bay Area?

Jun 04, 2021
The Guangdong-Hong Kong-Macau Greater Bay Area is a result of China’s grand strategy of developing multiple city clusters to create sizeable areas of economic strength. The GBA consists of 9 cities and two special administrative regions in south China. It is home to over 70 million people, produces 37% of China’s exports and 12% of its gross domestic product.
The top 4 biggest cities by population in GBA are Guangzhou, with more than 15.31 million people; Shenzhen, about 13.44 million people; Dongguan, about 8.4 million and Hong Kong, about 7.5 million. The total population in GBA is bigger than Canada and UK combined. The government launched a series of policies in GBA to attract talented young professionals and international students who returned to China to contribute to the growth. Take Shenzhen as an example, as a migrant city, there are 8.48 million residents without household registration in Shenzhen, accounting for 65.1% of the population. And the average age of Shenzhen is 32.01 in 2019, younger than 2017, which is 32.65. A younger, higher educated, and fast-growing population makes the GBA one of China's most dynamic consumer markets. Young consumers in GBA attach more importance to their shopping experience, driving up demands for personalised cultural consumption. As value-for-money basics are widely available on online shopping platforms, the younger generation no longer visits bricks-and-mortar stores for daily necessities. Instead, they go out shopping in search of pleasure, novelty, and comfort. Unlike the older generations, the young consumers in the GBA are ready to spend on items like custom-made jewellery, clothing, and electronic products to display their taste.
The Greater Bay Area plan is a project launched by the Chinese government to foster growth by developing technology and innovation, boosting infrastructure, and increasing financial links between the cities. The strategic visions for the major cities in the region are to make them become hubs in different sectors: Hong Kong would strengthen its status as a finance and trade hub, Shenzhen – home to Chinese technology giants like Huawei and Tencent, would develop to be a tech hub. Meanwhile, Macau would focus on tourism and entertainment. The Greater Bay Area is one of the wealthiest regions in China and the fastest-growing region, attracting young talented migrants from all over China.
Benjamin Sun
Benjamin Sun