The Academy of Guangdong-Hong Kong-Macao Greater Bay Area Launched to Provide Think Tank Study for the Bay Area

GUANGZHOU, China, June 30, 2017 /CNW/ -- On June 29, the Academy of Guangdong-Hong Kong-Macao Greater Bay Area was officially established. This is a substantial step Guangdong takes in its deep participation in constructing Guangdong-Hong Kong-Macao Greater Bay Area and strengthening "bay area" research.

The Academy was jointly launched by Guangdong Provincial Development and Reform Commission, Hong Kong and Macao Affairs Office of the People's Government of Guangdong Province, Guangdong Academy of Social Science and Southern Finance Omnimedia Corporation (SFC).

What does the participation of think tank study mean for the construction of Guangdong-Hong Kong-Macao Greater Bay Area?

Enhancing international influence

The establishment of the Academy aims to study how the construction of Guangdong-Hong Kong-Macao Greater Bay Area could push forward the country's further involvement in global competition. Following the instructions of central and provincial leadership, Shen Haixiong, a member of Standing Committee of CPC Guangdong Committee and Director General of Publicity Department of CPC Guangdong Committee, led a research group and put forward the idea of setting up the Academy of Guangdong-Hong Kong-Macao Greater Bay Area. The Academy will have a new system which brings government, media, financial market and think tank together to support the development of Guangdong-Hong Kong-Macao Greater Bay Area.

According to Wang Jun, president of Guangdong Academy of Social Science, the Academy will be a strong talent support for the Greater Bay Area, and will become a platform for organization, collaboration, publication and research-to-product transferring.

The Academy will support the scientific decision-making of the Area by providing prospective intelligence and analyzing public opinion. The Academy's research subjects will focus on the Greater Bay Area, free trade zone and the Belt and Road initiative, serving mainly government departments, enterprises, intermediaries, financial institutions, investors, research institutions and media.

It is worth mentioning that SFC, one of the initiators, with media, data and transaction as the key businesses, has outdone its counterparts in mainland China in terms of influence and credibility. And the newly-established Academy of Guangdong-Hong Kong-Macao Greater Bay Area will be an important platform for SFC to implement and serve national strategies.

It is learned that the Academy will summarize annual development conditions of Guangdong-Hong Kong-Macao Greater Bay Area and put forward development outlook for the next year. A series of blue books and white books will be released as well to provide information and guidance for the government and society. Meanwhile, the Academy will cooperate with domestic and foreign professors and launch joint researches. In addition, to further enhance international influence, the Academy will build an index and data platform and develop a high-level forum.

Think tank study to support open "experiment"

The establishment of the Academy marks Guangdong's participation in the construction of Guangdong-Hong Kong-Macao Greater Bay Area via think tank.

Mo Daoming, member of the Standing Committee of CPPCC Guangdong Committee and professor of Institute of Public Policy, South China University of Technology, mentioned that China is facing the new topic of becoming more involved in global economic governance. The establishment of Guangdong-Hong Kong-Macao Greater Bay Area has become the "experimental field" of mainland China taking an active part in global economy. With diversified social systems and economic forms, Guangdong-Hong Kong-Macao region bears a resemblance to a mini global market. China can explore a system and mechanism that facilitate the flow of productive factors in this region and promote it to other countries.

Cui Weijie, researcher of Chinese Academy of International Trade and Economic Cooperation under Ministry of Commerce, believed that a definite concept of "Greater Bay Area" can highlight the regional characteristics of Guangdong-Hong Kong-Macao region. The establishment of 'Greater Bay Area Think Tank' can provide important guidelines for decision makers.

"It can open up golden opportunities for Guangdong. Adjacent to Hong Kong and Macao, Guangdong needs to implement the national development strategy on the one hand, and should be able to draw on the international resources of Hong Kong and Macao and make full use of them in the Pearl River Delta on the other, so as to boost Guangdong's economy and further its opening-up. As to what role Guangdong plays in Guangdong-Hong Kong-Macao Greater Bay Area and how to deepen the economic and trade integration, we need to conduct an in-depth research through our think-tank," said Chen Hongyu, Guangdong government adviser and former vice-president of Party School of CPC Guangdong Provincial Committee.

SOURCE Publicity Department of CPC Guangdong Committee

Mr. Liu, Tel/Fax: [phone]