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GBA and New Stage in China’s Urbanization

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June 28, 2019

Author: Fan Gang, President of CDI

Editor’s Note: The Guangdong-Hong Kong-Macao Greater Bay Area (GBA), an effort to usher in new stage of urbanization, has great potentials because of the special roles of HK and Macao and its innovation-driven development.

China’s major strategic plans in recent years include the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), the integration of Yangtze River Delta cities, the coordinated development of Beijing Tianjin and Hebei, and Xiong’an New Area. These plans all demonstrate the importance of urbanization for China’s development.

It is true that China’s urbanization has taken some detours, mainly reflected in soaring housing prices in big cities and excess supply of houses in small cities. Despite people flooding into big cities, far more land grants have been given to small cities rather than big ones. As a result, many houses in small cities are left without buyers. In recent years, a series of policies have been introduced, including the increased land supply for large cities and the intensive development of urban clusters, all of which show the effort to correct past errors and usher in urbanization 2.0.

In the near future, the GBA will become the world’s largest bay area. Compared with other urban clusters, it is unique in two ways.

First, the development of Hong Kong and Macao. From a national perspective, GBA takes it into consideration that the development of Hong Kong and Macao are well integrated with that of the mainland. The GBA will provide space for the development of Hong Kong and Macao and solve a series of problems faced by the two cities.

Second, the GBA occupies a key position in China’s science and technology industry. A key element of urbanization 2.0 is the high-tech industry. One advantage of the Guangdong-Hong Kong-Macao Greater Bay Area that Guangdong, Hong Kong and Macao are complementary to each other. Hong Kong has world-class universities and strong research capabilities. It is also a global…

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June 26, 2019

BRI Projects in ASEAN: Implementation, Mechanism and Suggestions

As a key strategic partner of China, ASEAN is an important participant in the development of the Belt and Road Initiative (BRI). ASEAN has made a commitment to link its Master Plan on ASEAN Connectivity 2025 with the BRI and accelerate its infrastructure development on the great momentum brought about by the BRI. At present, the BRI has achieved general strategic alignment with ASEAN countries.

June 19, 2019

Late-Development Advantages Help China

Author: Fan Gang, President of CDI

Knowledge spillover from developed countries means cheaper learning costs that can be applied to all sectors. A country's growth is not only driven by labor, savings and capital accumulation, but also by technological progress and institutional reforms.

Cheap and abundant labor is the most often-mentioned comparative advantage of developing countries. However,…

April 28, 2019
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Shenzhen and Hong Kong “Twin City” Cooperation to Jointly Build an International Technology…

Author: Guo Wanda, Executive Vice President of CDI

Editor’s Note: In future in-depth cooperation, Shenzhen and Hong Kong will synergize their strengths in science and technology innovation in building an international science and technology innovation center.

In a mere four decades, the concept of Shenzhen-Hong Kong “twin cities” has been felt across many sectors, including daily life, economy,…

April 25, 2019

Development and Operation of Overseas Industrial Parks under BRI

Author: Shi Kun, Senior Research Fellow, CDI, Mandy Zeng, Research Associate, CDI

Editor’s Note: Overseas industrial parks can become China’s contribution to the Belt and Road Initiative (BRI).

To promote economic development through industrial parks

Industrial parks represent a country’s effort to achieve industrial agglomeration and participate in the global industrial division of labor in…

April 21, 2019
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BRI and Going out of Chinese Special Economic Zones

Author: Qu Jian, Vice President of CDI

Editor’s Note: Over past years, Shenzhen has taken the lead in China’s industrialization and urbanization with open economic thinking, leading to a substantial rise in Chinese people’s income. In the future, the development of China’s special economic zones under the Belt and Road Initiative will mean the going out of Shenzhen’s successful experience and…

February 28, 2019

About China-U.S. Trade Frictions

Author: Fan Gang, President of CDI

Editor’s Note: China and the US have achieved substantial progress following their several rounds of high-level trade talks. The two countries are striving to reach a win-win agreement. What are the causes and effects of the trade frictions? More importantly, what are the solutions to break the impasse?

What are the causes of trade imbalance between China and…

February 28, 2019

China’s Shifting Economic Landscape

Author: Fan Gang, President of CDI

Editor’s Note: The current slowdown in China's economic growth, while affected by the overall global economic sluggishness, is also inseparable from a number of overheating in China's own development process.

China’s emergence as an economic powerhouse is mainly determined by its own national conditions, not by the international landscape. At present, China…

February 19, 2019

New Attempts and Practices in Development Plan Outline for Guangdong-Hong Kong-Macao Greater Bay…

Author: Zhang Yuge, Director, Hong Kong and Macao Research Department, CDI

Editor’s Note: The Development Plan Outline for the Guangdong-Hong Kong-Macao Greater Bay Area has been unveiled. What new attempts and practices in the Outline are worth attention?

The highly anticipated Development Plan Outline for the Guangdong-Hong Kong-Macao Greater Bay Area (hereinafter referred to as “the Outline”)…