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The sixth edition of the Greater Pearl River Delta (GPRD) report, published by Invest Hong Kong (InvestHK), highlights Hong Kong's central position in the GPRD's development and shows why it holds great promise for the future. The report was officially launched at a luncheon presented by The Australian Chamber of Commerce, in conjunction with InvestHK and the InterCham PRD Committee today (May 28).
In the past 20 years, the GPRD has grown to become one of the most affluent and fastest growing regions in Mainland China and one of the world's most dynamic economic areas, with an average annual GDP growth rate in excess of 11 percent over the past 18 years.
In 2008, Gross Domestic Product (GDP, nominal) for the GPRD (including Hong Kong and Macau) reached US$665 billion, an increase of 41 percent since 2006 (US$472 billion). According to the World Bank's 2008 ranking of countries by GDP, that places the GPRD at 18th position, ahead of countries including Poland, Indonesia, Belgium, Sweden, Switzerland and Saudi Arabia.
Similarly, the region's GDP per capita (including Hong Kong and Macau) has increased from US$8,787 in 2006 to US$12,039 in 2008. The GPRD's imports have risen from US$218 billion in 2006 to US$270 billion in 2008, accounting for 24 percent of imports to the Mainland in 2008, and exports from US$289 billion in 2006 to US$387 billion in 2008, or 27 percent of exports from the Mainland in 2008.
A range of key policy initiatives including the recent "Outline Plan for the Reform and Development of the PRD (2008-2020)", and cross-border infrastructure projects, like the Hong Kong-Zhuhai-Macao Bridge and the Guangzhou-Shenzhen-Hong Kong Express Rail Link, are contributing to the improvements in connectivity within and between the GPRD and the rest of the world, making it easier for investors to access opportunities there than ever before.
This rapid economic and business development and urbanisation in the GPRD have made the region even more attractive to investors, according to Director-General of Investment Promotion at Invest Hong Kong, Mr Simon Galpin. He said, "Hong Kong is the traditional access point for multinational companies into the GPRD and Asia Pacific. This latest edition of the report highlights the ways in which overseas companies are using Hong Kong as part of their successful GPRD business strategies. I am confident that this book will be a useful guide for those that are interested in launching or expanding their operations in Hong Kong and the GPRD."
Addressing the audience at the luncheon, Professor Michael Enright, one of the report's authors, provided an overview of the main findings of the sixth edition. He said, "Much has happened since the publication of the fifth edition of this book in 2007. Indeed, the GPRD has increased in importance as a production centre and a market within the Mainland and globally. As part of the GPRD, Hong Kong is becoming not only a place where the rest of the world meets China, but also where China meets the rest of the world."
About the Greater Pearl River Delta (GPRD)
The GPRD region consists of the Hong Kong Special Administrative Region, Macau Special Administrative Region and the PRD region portion of Guangdong Province including such cities as Dongguan, Foshan, Guangzhou, Huizhou, Jiangmen, Shenzhen, Zhaoqing, Zhongshan and Zhuhai.
About Invest Hong Kong
Invest Hong Kong is the department of the Hong Kong Special Administrative Region (HKSAR) Government responsible for Foreign Direct Investment, supporting overseas, Mainland and Taiwanese businesses to set up and expand in Hong Kong. We provide free advice and customised services to help your business succeed in our vibrant economy. For more information, please visit www.investhk.gov.hk.
To obtain a free copy of the GPRD report, please contact Invest Hong Kong on 3107 1000 or email to enq@investhk.gov.hk.
Ends/Friday, May 28, 2010
Issued at HKT 16:12
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