China unveiled the outline development plan for the Guangdong-Hong Kong-Macao Greater Bay Area, aiming to develop the region into “a role model of high-quality development.”

The plan was released by the Central Committee of the Communist Party of China and the State Council.

The plan, an important outline document guiding the current and future cooperation and development of the Greater Bay Area, covers the period from now to 2022 in the immediate term and extends to 2035 in the long term.

Industrial system

China aims to build a globally competitive modern industrial system for the Guangdong-Hong Kong-Macao Greater Bay Area, according to the development plan.

Efforts will be made to expedite the development of the advanced manufacturing industry, nurture and strengthen strategic emerging industries, expedite the development of modern service industries, and vigorously develop the marine economy, according to the plan.

The plan says measures should be taken to deepen supply-side structural reform, nurture new industries as well as new business types and models, support the transformation and upgrading of traditional industries, and expedite the development of advanced manufacturing and modern service industries.

It also stresses the need to raise industries’ development levels to advanced international standards, promote the complementarity, coordination and interconnected development of industries, and nurture a number of world-class industry clusters.

The Guangdong-Hong Kong-Macao Greater Bay Area will foster closer collaboration and integration within the region, an industry official said.

"It should be a commercial advantage for companies, and this is how business works," said Gutierrez, a former secretary of commerce of the United States. "The technology is going to be made by companies, whether public or private, but not governments."