Analysis on the Current Situation of High-Level Opening-Up of the Guangdong-Hong Kong-Macao Greater Bay Area

Abstract

This paper systematically analyzes the current situation and characteristics of the opening-up of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) from five dimensions: trade opening-up, investment opening-up, scientific and technological opening-up and innovation, regional coordinated opening-up, and platform carrier opening-up. The study finds that in terms of trade opening-up, the scale of goods trade and service trade in the GBA has continued to expand, the structure has been optimized, and new business forms such as cross-border e-commerce have become new growth drivers. In the field of investment opening-up, market access restrictions have been gradually relaxed, the quality of utilizing foreign capital has been improved, and enterprises have accelerated their pace of "going global". In terms of scientific and technological opening-up and innovation, international scientific and technological cooperation has been deepened, technology trade and intellectual property rights have been active, and the ability to allocate global innovation resources has been enhanced. In regional coordinated opening-up, the connection of rules and mechanisms among Guangdong, Hong Kong and Macao has been continuously promoted, and remarkable achievements have been made in the interconnection of infrastructure. For platform carrier opening-up, relying on major cooperation platforms such as Hengqin, Qianhai and Nansha, a multi-level open ecosystem has been formed through institutional innovation, and international exhibitions and exchange platforms have improved the efficiency of global resource allocation. However, problems such as institutional barriers to cross-border flow of factors, insufficient depth of opening-up in high-end service industries, and limited participation in the formulation of international rules still restrict the improvement of the opening-up level. In the future, it is necessary to further deepen institutional opening-up, strengthen the connection and innovation of rules, break down barriers to factor flow, expand the opening-up of high-end service industries, actively participate in the formulation of global rules, and promote the open economy of the GBA to move towards a higher level.