She said "Now is the time for humanity to work closer together than ever before. That's certainly going to open another new chapter in the story of Hong Kong." Now, we are glad to see that for the first time in history, China's National 14th Five-Year Plan mentioned 'integrated development' with Hong Kong in its text. The GBA has also fostered integration among 11 key cities that collectively form the most vibrant bay area in South China. And talking about integration, the RCEP has fostered regional market integration among 15 of Asia's biggest economies and markets. It is about integrating "the largest" with "the most powerful". ![]() And the theme is about connecting the two. Eva Cheng, deputy secretary-general of the Hong Kong Coalition, pointed out that the GBA is China's most powerful economic growth engine, and the RCEP is the world's single largest free trade agreement. He hopes after we have listened to our eminent speakers and panelists at today's conference, all of us will have a more nuanced idea about how the cities in China's Greater Bay Area can tap into the supply chain and demand in a wide diversity of markets through the RCEP framework, and lead the way in creating, to quote President Xi once again, a "unified, open, competitive and orderly market system". He said that such fraternal vibes make us optimistic about the future of China's relationships with her trading partners in the Asia-Pacific. The idea ties in with President Xi's notion of common prosperity - informed by the democratic philosophy that sharing of wealth and resources can only benefit everyone concerned in the long run," he said. While the enhanced inflow of investment helps developing member states to raise the standard of production and income levels, and thus move up the value chain, developed economies can cut down on overhead by setting up manufacturing bases in the ASEAN states while also catering to those markets. "It is a coming together of economies big and small, developed and developing. Zhou Shuchun, a Standing Committee member of the Chinese People's Political Consultative Conference National Committee and China Daily publisher and editor-in-chief, perceived that the RCEP is a win-win proposition. The positioning of Hong Kong in the 14th Five-Year Plan as an international financial, shipping and trading center and the global offshore RMB business hub will further strengthen Hong Kong's role as a 'super-connector', and boost the development of Hong Kong and the GBA." He said, "Thanks to the National Security Law and the improved electoral system, Hong Kong has transformed from chaos to stability and prosperity, and has a big role to play in the GBA and China's new round of opening-up. As we speak, barriers between Hong Kong and the other cities in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) are being lowered, one after another," he said. The Regional Comprehensive Economic Partnership (RCEP) is the largest free trade agreement ever forged. "We are one of the largest global trade hubs for both goods and services. ![]() In the keynote addresses, CY Leung indicated that Hong Kong is the super-connector of the world. The conference brought together C-level senior executives from Fortune Global 500 and China 500 companies, think tanks, academics, media and experts from public and private sectors across Asia. ![]() Under the theme "Embracing New Opportunities: Connecting GBA with RCEP", the conference explored RCEP business opportunities for Hong Kong and the GBA in the long run and examined the current economic landscape. Liu Guangyuan, commissioner, the Ministry of Foreign Affairs of the People's Republic of China in the Hong Kong SAR, delivered keynote addresses, which were followed by three panel discussions. Leung, GBM, GBS, JP, vice-chairman of the Chinese People's Political Consultative Conference National Committee, and Mr. 2, 2021 /PRNewswire/ - Co-organized by China Daily and the Hong Kong Coalition, the Greater Bay Area Conference was held on Tuesday.
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