The GBA has already implemented several measures to enhance financial connectivity, such as the Stock Connect, Bond Connect, and Wealth Management Connect, but there is still room for further deepening. The GBA is positioning itself as a world-class economic powerhouse, an integrated economic and business hub with a strong focus on high-quality development, sustainability, and connectivity. With discussions around “Sailing into a new phase of opening”, I shared my views on opportunities in the #GBA as it rapidly emerges as a hotbed of #innovation, #entrepreneurship and #collaboration. I was delighted to be speaking at a panel on the high-quality development of the Greater Bay Area at the Caixin Summer Summit 2023 held earlier in Hong Kong this month. (Chinese only) #BetterWorkingWorld #EYGreaterChina #GBA #Digital #Sustainability This would help ramp up innovations in green financing, helping projects get funds easier and faster. To position Hong Kong as a hub for #Greentech and green finance, it is important to build its greentech ecosystem and encourage cross-sector collaboration to commercialize research and development. The center has over 30 experts from fields such as AI, big data, cybersecurity, blockchain and more, with a multidisciplinary team working closely with sector partners to exchange successful corporate transformation experiences and accelerate digital transformation in sectors like advanced manufacturing, financial services and others, as well as in low-carbon transition. In April, we launched the EY GBA Centre of Excellence in Qianhai as part of our commitment to the development of the #GreaterBayArea. Simon Hoey Lee of China Resources Group and Wendy Chan of JLL on the digital economy and the new opportunities. I was delighted to join Simon Loong of WeLab, Dr. Many thanks to TVB for inviting me to join a panel at their recent Financial Forum with green and sustainable finance as the theme. #BetterWorkingWorld #EY #Economy #Geostrategy #EYGC55 More on EY views on BFA and CDF (in Chinese): We will continue to contribute our insights and knowledge to advance common prosperity.įollow our activities at #CICPE on WeChat: #EY is proud to be part of this important journey. Of course, there are still challenges that need to be addressed, including geopolitics, regulatory complexities and concerns around data privacy and cybersecurity among others.Ĭommitments to greater cooperation are crucial for shaping the future of trade and overcoming the barriers to inclusive growth.
The sound development of China’s economy will provide space for broader cooperation and development opportunities for both domestic and foreign investors.
From digital transformation to #fintech, #AI and #IoT to #greengrowth, China is leading the way in many areas. Having been in Greater China region for 55 years, #EY has witnessed its incredible growth and potential. By continuing to prioritize green growth, China will not only contribute to global efforts to address climate change, but also create new opportunities for sustainable development and investment. This growth is a testament to China's commitment to building a strong and vibrant digital economy that can support sustainable development and drive progress.Īt the same time, China is committed to pursuing green growth, which involves promoting a low-carbon and environmentally sustainable economy. This year, the figure is expected to surpass that of 2022, providing market demand and a strong impetus to the global recovery.Īt the March forums, #China has also restated its commitment to high-quality development, trade cooperation, and building a sustainable and inclusive economy for all.ĭata shows that the scale of China's digital economy soared from RMB11 trillion (US$1.6 trillion) in 2012 to RMB45.5 trillion (US$6.6 trillion) in 2021, making it the second largest in the world.
The China International Consumer Products Expo (CICPE) opens this week in Haikou, Hainan, further to the major events – the Boao Forum of Asia (BFA) and the China Development Forum (CDF) - which concluded in March.Īsian economies will continue to serve as a key pillar to global economic stability and growth while the contribution of China's economy to world economic growth is unquestionable.
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