Pioneering Collaboration: Over 300 Listed Companies Unite for Sustainable Growth in the GBA

The Guangdong-Hong Kong-Macao Greater Bay Area Listed Companies Summit 2024 Unveils the “Hong Kong—Best Headquarters Choice for Greater Bay Area Listed Companies” Initiative Empowering Mainland Enterprises to Leverage Hong Kong for IPOs and International Growth

HONG KONG SAR - Media OutReach Newswire - 26 November 2024 - On November 25, the "Guangdong-Hong Kong-Macao Greater Bay Area Listed Companies Summit 2024," hosted by the Greater Bay Area Association of Listed Companies, was successfully held in Hong Kong. Themed "Situated in Hong Kong, Uniting the Greater Bay, and Embracing Worldwide Opportunities," the forum brought together over than 300 esteemed political leaders, industry specialists, and representatives from Hong Kong and A-share companies came together in Hong Kong for a dialogue.

The forum officially launched the "Three Pillar Strategies" of the Greater Bay Area Association of Listed Companies: ESG, industrial mergers and acquisitions, and IPOs, as well as the "100+ Guangdong-Hong Kong-Macau Greater Bay Area Alliance for Global Outreach."

The Financial Secretary of the Hong Kong Special Administrative Region,Mr Paul Chan Mo-po; the Deputy Director of the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region,Dr Qi Bin; the Founding President of Greater Bay Area Association of Listed Companies, Dr Hooy Kok Wai; the Founding Chairman of Greater Bay Area Association of Listed Companies,Mr Zhong Xueyong; the Standing Committee Member of the National People's Congress, Legislative Council Member, and former Chairwoman of the Democratic Alliance for the Betterment and Progress of Hong Kong, Dr Hon Starry LEE Wai-king; the Standing Committee Member of the National Committee of the Chinese People's Political Consultative Conference, the Chairman of the Chinese General Chamber of Commerce, Hong Kong, and Chairman of the Guangdong Hong Kong Macao Greater Bay Area Entrepreneurs Alliance, Dr Jonathan Choi Koon-shum; and the Managing Director and Chief China Economist of Hong Kong Exchange and Clearing Limited, Prof Ba Shusong, were the honorable guests who delivered speeches.

In keynote speech at the forum, Mr Paul Chan stated that the Greater Bay Area (GBA) has an economic scale equivalent to that of a medium-sized developed economy. It is one of the most dynamic and open regions in China, with flourishing state-owned and private enterprises and robust innovation capabilities. He anticipated that GBA enterprises would play a pioneering role in China's broader opening-up strategy.

Mr Paul Chan highlighted three strategic priorities for Hong Kong's role in the GBA's development:

Empowering Enterprise Growth: As a global financial hub, Hong Kong is committed to exploring and implementing initiatives that foster enterprise expansion, enhance its financial markets, and contribute to the nation's overall progress.

A Premier Hub for Globalization: Hong Kong remains the top choice for GBA and Mainland enterprises aiming for international growth. It actively supports these companies in setting up global or regional headquarters, treasury centers, and supply chain management operations.

Catalyzing Connectivity and Value Creation: Leveraging its role as a "super connector" and "super value-added facilitator," Hong Kong is deepening partnerships with emerging markets like Southeast Asia and the Middle East to attract new capital flows. Simultaneously, it promotes bilateral capital movement and fosters robust business collaborations to drive shared success.

Dr Qi Bin encouraged listed companies, as industry leaders, to act as vanguards in the construction of the GBA. With over 5,000 listed companies in the GBA, they play a crucial role in building major cooperative platforms, deepening financial connectivity, and promoting economic and trade collaboration between regions. He emphasized the importance of improving corporate governance, delivering strong business performance to demonstrate social responsibility, and leveraging the capital markets to drive the development of new productive capacities.

Dr Hooy Kok Wai highlighted the pivotal role of listed companies as the backbone of economic growth and pioneers of regional economic integration. He expressed hope that the forum would gather collective wisdom to drive the GBA's vibrant development and bright future. Mr Zhong Xueyong eloquently likened China's economy to a boundless ocean, highlighting its resilience and enduring stability. He noted that while storms may stir the surface of a small pond, they are incapable of unsettling the immense depths of an ocean. Within this vast economic expanse, listed companies stand as the navigators, steering innovation and progress to chart the course for sustainable growth and development. This forum brought together over 300 esteemed government officials, industry experts, and representatives from Hong Kong and A-share listed companies to explore pivotal topics, including leveraging Hong Kong for IPOs and global expansion. With its diverse representation and active participation, the forum serves as a catalyst for driving the future economic growth of Hong Kong and the GBA.

Dr Jonathan Choi shared data illustrating the GBA's remarkable achievements. In 2023, the GBA's GDP exceeded 14 trillion RMB, generating 1/9 of China's GDP on just 0.6% of its land area. Its patent growth leads the world's four major bay areas, and its innovation clusters in Shenzhen, Hong Kong, and Guangzhou have been ranked second in China's National Innovation Index for four consecutive years, making it a global hub of promising growth.

Prof Ba Shusong forecasted that China might enter a new phase where its GNP grows faster than its GDP. While domestic GDP growth may moderate, the growth of Chinese enterprises operating in Southeast Asia, the Middle East, and South America is accelerating. He emphasized the need for Hong Kong to pivot and support the global expansion of Chinese enterprises, just as it once creatively facilitated international investors' access to Mainland China. Hong Kong can play a critical role in areas such as overseas M&A and relisting of international businesses.

The forum also awarded the GBA Listed Companies ESG100 Green Advancement Awards, honoring over 100 listed companies, including CENTRAL NEW ENERGY HOLDING GROUP LIMITED (1735.HK), YONYOU NETWORK TECHNOLOGY CO., LTD. (600588.SH), GUANGDONG AOFEI DATA TECHNOLOGY CO., LTD. (300738.SZ), ZHEJIANG HUAHAI PHARMACEUTICAL CO., LTD. (600521.SS), HENAN ZHONGFU INDUSTRIAL CO.,LTD (600595.SS), HENGAN INTERNATIONAL GROUP COMPANY LIMITED (1044.HK), CHINA RESOURCES BEER (HOLDINGS) COMPANY LIMITED (0291.HK), SHENZHEN KEDALI INDUSTRY CO., LTD. (002850.SZ), HENDERSON LAND DEVELOPMENT COMPANY LIMITED (0012.HK), KINGDEE INTERNATIONAL SOFTWARE GROUP COMPANY LIMITED(0268.HK), TELLING TELECOMMUNICATION HOLDING CO.,LTD (000829.SZ), POLY PROPERTY SERVICES CO., LTD. (6049.HK), CHINA RISUN GROUP LIMITED (1907.HK) etc.

The success of this forum marks a significant step in supporting Mainland enterprises' global expansion via Hong Kong, establishing Hong Kong as an international headquarters hub, and promoting regional economic integration. It injects robust momentum into the future development of the GBA.
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