2017-6-30

The general principle of China's economic development at the present stage and in the future is to be well versed in, adapt to and guide the new normal, and this is a major judgment on China’s economy made by CPC Central Committee and the Central Government. Only by carrying out the major guidelines and decisions made by the CPC Central Committee and the Central Government concerning the new normal can the sound and sustainable development of the urban agglomerations of the Guangdong-Hong Kong-Macao Greater Bay Area be pressed forward. The following underlying four principles are to be followed when we plan the development of the Guangdong-Hong Kong-Macao Greater Bay Area.

First, the development of the Guangdong-Hong Kong- Macao Greater Bay Area must undergo transformation. We need to change the lopsided outward-looking approach and take an overall global vision, arranging the layout of production and business activities from the perspective of the global market and evaluate the competitiveness of enterprises with the performance of multinational companies as the benchmark. In addition, we need to enhance the added value of economic activities and push forward the development of capital-intensive, technology-intensive and knowledge-intensive-based production and business operation.

Second, the Guangdong-Hong Kong-Macao Greater Bay Area must adhere to an innovation-driven development mode. We need to flesh out the reform comprehensively, stimulate the potential of the highly developed market of the Guangdong-Hong Kong-Macao Greater Bay Area; various cities need to build up public technology platforms and innovation platforms with regional industrial characteristics so as to improve their industrial competitiveness and sharpen their regional competitive edges. Besides, we need to strive to solve China’s and the world’s problems with the world’s wisdom, by innovating the ways and means to make full use of the global intellectual resources.

Third, comprehensive development must be insisted in the construction of the Guangdong-Hong Kong-Macao Greater Bay Area. We should no longer focus on attracting investment and capitals and have our eyes only on GDP growth. Efforts need to be made to follow people-oriented principle to attract all kinds of talents and promote a positive, open and inclusive urban culture.

Fourth, the development of the Guangdong-Hong Kong-Macao Bay Area needs to combine the independent local development with high-level coordination. When planning the development of the Guangdong-Hong Kong-Macao Greater Bay Area, we need to take the following two aspects into consideration. On one hand, enterprises, social forces and grass-roots governments should be encouraged to launch bold trials based on market mechanism; and on the other hand, the coordination of policies between cities should be implemented step by step.