The Greater Bay Area (GBA), Beijing’s ambitious plan to unite nine Guangdong cities with Hong Kong and Macau, is an economic initiative rivaling global hubs like New York and San Francisco. Spanning 56,000 sq km, the GBA is home to over 86 million people and boasts a GDP nearing $2 trillion—comparable to Canada.
Hong Kong’s integration into the GBA is vital for its future, enriching opportunities for its people and industries. Cities like Shenzhen, home to tech giants BYD, Huawei, and Tencent, exemplify the region’s innovation potential. Maritime leaders see vast prospects, from enhanced trade connectivity to technological advancements and sustainable practices, solidifying Hong Kong’s role as a logistics and maritime hub.
Experts also highlight the need for coordinated efforts within the GBA to reduce internal competition and focus on global markets. While collaboration promises mutual growth, competition among GBA ports could foster improvements but also shift stakeholder preferences to mainland ports.
Hong Kong’s limited land supply and status as an international maritime hub create opportunities for expanding port and maritime services to new regions. This expansion offers significant potential for growth. Establishing operational synergies with Shenzhen and Guangzhou, the GBA’s other major container ports, could further enhance efficiency and competitiveness., says Bjorn Hojgaard, CEO of shipmanagement firm Anglo-Eastern.
He sees trade being done faster and cheaper forging increased demand between markets, especially if it is coupled with the Belt and Road Initiative and implementation of more digital technology solutions. According to Hojgaard, sea transportation and ports will be the central part of the equation. If closer alignment is achieved, Hong Kong’s strengths in high value-added services—such as ship management, ship finance, and ship leasing—could be fully utilized. This also includes expertise in marine insurance, maritime law, and dispute resolution. Leveraging these strengths could open up expanded business opportunities for Hong Kong companies, he adds.
Another positive of this in his eyes is the possibility of a massively increased talent pool which could be found across the border as well as perspectives of cross-pollinating innovation in the sector. This, however, will be a slow process, which Hojgaard concedes as well as saying that there are still many unanswered questions. All those questions will be answered in the coming decade as we head towards 2035 when the Greater Bay Area is supposed to be fully developed.
Hong Kong’s expertise in high-value services, such as ship management, finance, and maritime law, can foster strong synergies. This potential is further enhanced by an expanding talent pool and a focus on innovation. As the GBA evolves toward 2035, Hong Kong’s role will be crucial in shaping the region into an economic powerhouse.
