China has completed its plan for the Guangdong-Hong Kong-Macau Bay Area and related infrastructures to connect the areas that have been built or are under construction, the China Securities Journal reported on Thursday.
According to the government, infrastructures play a critical role in the whole area. The Hong Kong-Zhuhai-Macao Bridge, as well as the high-speed rail linking Guangzhou, Shenzhen and Hong Kong have been built.
On the other hand, analysts also suggested a breakthrough in institutions.
Hong Weimin, a deputy of the National People's Congress, commented;
"I once had a company in Guangzhou and had to send employees to Hong Kong to be trained for two weeks or a month. However, trouble occurred in the choice of visa types. A work visa is impossible because they were not eligible under regulations. Finally, we had to apply for a tourist visa, but my employees had to go back once a week due to the limits", he said.
Ma Huateng, head of Tencent, also expressed concerns about the issue. "People from Hong Kong and Macau are very eager to enjoy our Wechat Pay service, but due to no access to their identity check, many services are not available to them."
Despite the concerns, many analysts think highly of the area because of its innovation capability and industrial distribution.
The building of the area has become a critical link in China's overall development, as the China Securities Journal put it.
Generally, 60 percent of the global economic volume is along the mouth of the river. So the bay area is sure to be a core of economic development.
Analysts predict that the Guangdong-Hong Kong-Macau Bay Area will become the fourth largest bay area in the world that further influences global economy.
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