|Report identifies opportunities especially in tech and sustainability|
HONG KONG, June 25, 2021 – (ACN Newswire) – A research report identifying synergies and collaboration opportunities between the San Francisco Bay Area and China’s Guangdong-Hong Kong-Macao Greater Bay Area (GBA) was published and presented at a webinar today by the Bay Area Council Economic Institute, based in San Francisco, and the Hong Kong Trade Development Council (HKTDC). Entitled “Bay to Bay: China’s Greater Bay Area Plan and Its Synergies for US and San Francisco Bay Area Business,” the report analyses the trade, investment and policy landscape of the two bay areas, and identifies sectors with potential including climate change, clean energy, healthcare, electric and autonomous vehicles, biomedicine, and fintech.
In addition to assessing the trade and investment landscape and detailing areas for potential collaboration, the report also looks at the GBA in detail and how US businesses can leverage Hong Kong as an international platform to link up with the GBA to capture business opportunities.
Sean Randolph, the report’s principal author and Senior Director at the Bay Area Council Economic Institute, notes that “The GBA and the San Francisco Bay Area are both complex regions and global economic hubs. Hong Kong in particular, as an international crossroads with a dynamic services sector and innovative research, has similarities to San Francisco. With its relative openness and established legal system for business transactions it’s also well-positioned as a bridge to the GBA. In the last few years doing business between the US and China has become more complicated but there are still many opportunities to explore, in fields from clean energy and climate change to health, biomedicine and fintech.”
Nicholas Kwan, Director of Research at HKTDC, which supported the study, comments that “As a global city Hong Kong plays a unique role in the Greater Bay Area plan based on its rule of law, respect for intellectual property, the scale and depth of its financial system, and its capacity for innovation. That opens the door for Bay Area and California companies to take advantage of opportunities in the GBA through partnerships in Hong Kong.”
The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn