Reference News Network, July 6 report: On July 3, the U.S. Forbes magazine website published an article written by reporter Vivian Du (translated name), titled "Can China's Greater Bay Area Compete with Tokyo and California?" The following is a translated version of the report:

In the global competition to promote innovation, regions such as Silicon Valley in California and the Tokyo Bay have long dominated. However, today, China's Guangdong-Hong Kong-Macao Greater Bay Area, which includes Shenzhen, Hong Kong, Macao, Guangzhou, and seven other cities, has become a bold challenger, rapidly developing under the guidance of Beijing.

The Guangdong-Hong Kong-Macao Greater Bay Area plan was officially launched in 2017, representing a bold attempt by China in economic integration and innovative growth. However, can this ambitious region, with a population of 87 million, match established innovation centers like Tokyo and San Francisco?

In a recent interview event, I met with a delegation of young international professionals and scholars who had concluded a week-long exploration of the Guangdong-Hong Kong-Macao Greater Bay Area. Through conversations with members of this diverse group, I learned about the rapid changes taking place in the region and the perspectives of global professionals who have experienced these changes firsthand.

China's remarkable ability to quickly build large-scale infrastructure is unparalleled. The transformation of Shenzhen into a tech metropolis is particularly notable. Gao Haoxian, Strategic Manager for Asia-Pacific at the machine learning company Moloco, said that the development of Shenzhen is "one of the most significant changes I have seen globally."

Pedro Enrique Steinkuhler, a Brazilian Ph.D. student at Fudan University, emphasized the strategic potential of Macao in connecting Portuguese-speaking countries. However, he warned that eliminating administrative barriers that hinder cross-border cooperation is key to achieving these international aspirations.

The main difference between the Guangdong-Hong Kong-Macao Greater Bay Area and California and Tokyo lies in the foundation of its innovation system. Silicon Valley and Tokyo Bay have thrived on grassroots entrepreneurship, academic research, and venture capital. In contrast, the Guangdong-Hong Kong-Macao Greater Bay Area primarily relies on the scale and strength of established giants such as Tencent and Mindray Medical.

Vanessa Marina Diaz Eddad, Manager of Digital Solutions at Carrefour Global Procurement, expressed admiration for the ambitions and drive of local technology companies. However, she pointed out that small businesses are still overshadowed by corporate giants, limiting the diversity of innovation.

To achieve comprehensive and mature development, the Guangdong-Hong Kong-Macao Greater Bay Area needs greater institutional support for entrepreneurship and enhanced collaboration between universities and industries.

The potential of the Guangdong-Hong Kong-Macao Greater Bay Area to attract global talent is evident, offering professionals lower living costs, vibrant cities, and significant career development opportunities.

Gao Haoxian praised Tencent's corporate culture as truly "open and global-minded," which is crucial for attracting international talent. Hugo Fontanel, Senior Manager at the pharmaceutical company Huan Yue Medical, praised the digitalization and convenience of city services in Shenzhen and Hong Kong, calling it "impressive."

Tanvir Parvez Matobal, a Bangladeshi student at Tsinghua University, emphasized the huge opportunities within the region, pointing out that the Guangdong-Hong Kong-Macao Greater Bay Area has the potential to enhance its global appeal through its local advantages.

In terms of transportation, the Guangdong-Hong Kong-Macao Greater Bay Area is developing rapidly and has surpassed California's fragmented transportation network, comparable to Tokyo's aging but extensive infrastructure. After visiting projects such as the Hong Kong-Zhuhai-Macao Bridge and the Hengqin Guangdong-Macao Deep Cooperation Zone, visitors noted that the connectivity of the Greater Bay Area has significantly improved.

Stefanie Tania Jacqueline Speska, a consultant and quantitative analyst at the sustainable development company Sim2Sustain, emphasized the importance of nurturing grassroots innovation and international cooperation institutions, which are crucial for the development of the Greater Bay Area.

In the end, the Guangdong-Hong Kong-Macao Greater Bay Area represents a unique combination—a rare fusion of central government strategy and local diversity.

If successful, the Guangdong-Hong Kong-Macao Greater Bay Area may redefine the meaning of global innovation hubs in the 21st century. (Translated by Zheng Guoyi)

The Hong Kong-Zhuhai-Macao Bridge at dawn (Xinhua News Agency)

Original article: https://www.toutiao.com/article/7523780445356737058/

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