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Wang Weizhong
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As the economy of neighbouring province soars, Hong Kong should not only help bring about ‘common prosperity’, but also show that it still has an eye for risk-taking, enterprise and adaptability.

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  • Hong Kong Financial Secretary Paul Chan says stronger links between city’s financial sector and rest of Greater Bay Area being forged
  • Guangdong party chief calls on bay area cities to join forces with Hong Kong and Macau to speed up creation of hub capable of fostering top talent

In this issue of the Global Impact newsletter, we break down China’s most recent economic and demographic data, and looks ahead to what 2024 might hold for the world’s second-largest economy.

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Guangdong would ‘pace up construction’ of China’s Greater Bay Area plan in 2024, having set an economic growth target of 5 per cent, governor Wang Weizhong said on Tuesday.

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Insider says talks between Beijing’s top man in Hong Kong and Guangdong officials produce push for stronger connections along lines of infrastructure, rules and regulations.

Looking to add to existing tourism and agricultural ties, Thailand is keen to explore the idea of joining hands with China in tapping new energy and digital markets in Southeast Asia.

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Hong Kong and Guangdong are deepening cooperation to enhance high-quality development of the Greater Bay Area. The two sides have announced a slew of business and trade activities to drive growth.

Technology and collaboration are crucial factors to help Macau diversify its economic base, say its chief executive Ho Iat-seng, Guangdong governor Wang Weizhong, Alibaba’s Joe Tsai and commentator Andrew Sheng.

City leader John Lee also points to ‘harmonious atmosphere’ between Hong Kong officials and legislators throughout four-day visit to Greater Bay Area.

Guangdong and Zhejiang provinces both predict their economic growths will be ‘above 5 per cent’ this year after falling well short of last year’s GDP targets amid China’s restrictive zero-Covid policy.

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Posts on mainland social media note that while residents in Shenzhen and Dongguan are locked down for testing, Hongkongers are out shopping and hitting the beach.

Southern manufacturing hub not only remains China’s largest regional economy, it would likely rank among the top 10 global economies if it were a country.