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Belt & Road Weekly

GBA to grow into service-oriented economy with faster industrial upgrading, report

May 30, 2019


Abstract : The Guangdong-Hong Kong-Macao Greater Bay Area (GBA) will develop into a service-oriented economy area with faster industrial upgrading thanks to the policy initiatives China unveiled on February, said a report released by the Development Bank of Singapore (DBS) recently.

Hong Kong, May 29 (Xinhua) -- The Guangdong-Hong Kong-Macao Greater Bay Area (GBA) will develop into a service-oriented economy area with faster industrial upgrading thanks to the policy initiatives China unveiled on February, said a report released by the Development Bank of Singapore (DBS) recently.

By following its global peers' development path, such as San Francisco Bay and Tokyo Bay which has shifted to a service-oriented economy area from a manufacturing-driven economy area, GBA will gradually upgrade its industry cluster to become a service-oriented economy area, said the report.

According to it, given GBA's position as a R&D hub and central gover......

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