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Although specific details of the implementation of the GBA Initiative have not fully been established, the past two years have witnessed many significant policy developments.
For example, on the financial services front, Hong Kong is working closely with mainland authorities to successfully implement a number of facilitation measures set out in the GBA Outline Development Plan, including remote onboarding for mainland bank account opening, promoting the usage of Hong Kong digital wallets in the GBA, as well as the successful launch of the Wealth Management Connect.
In
China Briefing magazine, we demonstrate the opportunities in the Greater Bay Area from multiple perspectives. We begin by presenting an overview of the GBA, and illustrate the role played by its major cities. Then, we summarize the major incentives offered in the region, before exploring the improving connectivity in the financial sector. Finally, we analyze Hong Kong’s role as a global financial hub, which will b