Page 12 - 月刊 2024第3期 7月

Ⅰ. The Macro-environment of the GBA

influence, and driving the formation of a group of special regional international consumption centre cities

radiating to surrounding countries and regions” are listed as important aspects in strengthening domestic demand
and promoting a new development pattern of mutual facilitation of domestic and international dual circulation.

The GBA, as one of the important economic regions where the first batch of international consumption centre
cities are located, plays a significant role in promoting the two-way flow of resources both domestically and

9
internationally, and promoting the formation of a high-quality pattern of opening up to the outside world.
The GBA aims to enhance the resilience and security level of its industrial and supply chains, maintain

strong economic growth resilience, promote smooth domestic circulation, and achieve mutual promotion of
domestic and international circulation. This will serve as a demonstration nationwide, driving neighbouring areas

to accelerate the construction of a new development pattern.

1.2 Promoting in-depth regulatory interface in the GBA through the construction of
“Cooperation Zones”

On July 1, 2017, President Xi Jinping witnessed in person the signing of the “Framework Agreement on
Deepening Guangdong-Hong Kong-Macao Cooperation in the Development of the GBA” in Hong Kong by

the NDRC, People’s Republic of China (“PRC”) and the governments of Guangdong, Hong Kong and Macao,
signifying the development of the GBA on a national level. Following the issuance of the Outline Development

Plan for the GBA by the Central Committee of the Chinese Communist Party and the State Council in February
2019, the Central Committee of the Chinese Communist Party and the State Council promulgated the “Master

Plan for the Development of the Guangdong-Macao Intensive Cooperation Zone in Hengqin” and the “Plan
for Comprehensive Deepening Reform and Opening Up of the Qianhai Shenzhen-Hong Kong Modern Service

10
Industry Cooperation Zone” in September 2021 , marking the continuous in-depth development of the GBA.

9 The first batch of international consumer centre cities in five regions, Chinese government website, (August 17, 2021),
https://www.gov.cn/xinwen/2021-08/17/content_5631627.htm
10 CE welcomes promulgation of Qianhai Plan and Hengqin Plan, September 6, 2021,
https://www.info.gov.hk/gia/general/202109/06/P2021090600594.htm?fontSize=1

07