China Real Estate Network News On February 18, the long-awaited "Guangdong-Hong Kong-Macao Greater Bay Area Planning Outline" was officially released. This is an important milestone in the development process of China's economy.
According to the "Outline", the Guangdong-Hong Kong-Macao Greater Bay Area will be built into a base for the world's emerging industries, advanced manufacturing and modern service industries, and a world-class city cluster. Among them, by 2022, the comprehensive strength of the Guangdong-Hong Kong-Macao Greater Bay Area will be significantly enhanced, and the framework of an international first-class bay area and a world-class urban agglomeration will be basically formed; by 2035, an economic system and development model with innovation as the main support will be formed, and the development of surrounding areas will be greatly improved. We will further improve our leadership capabilities and comprehensively build a world-class bay area that is suitable for living, working and traveling.
The head of the office of the Guangdong-Hong Kong-Macao Greater Bay Area Construction Leading Group stated that the policies of "one country, two systems", "Hong Kong people governing Hong Kong", "Macao people governing Macao" and a high degree of autonomy will be fully and accurately implemented in strict accordance with the Constitution and the Basic Law We will work with Guangdong, Hong Kong and Macao and relevant departments to work hard to complete various tasks with a nail-biting spirit and promote the implementation of various beautiful visions in the planning blueprint. We welcome all sectors of society to actively participate in the construction of the Greater Bay Area. *** The Guangdong-Hong Kong-Macao Greater Bay Area will be built into a world-class bay area and a high-quality living area suitable for living, working and traveling. It will enhance the livelihood and well-being of the people in Guangdong, Hong Kong and Macao and become a model for solidly promoting high-quality development.
The positioning of the four core cities has been released
One of the most important aspects of the "Outline" is the "top-level" division of labor and cooperation of the "9+2" urban agglomeration in the Guangdong-Hong Kong-Macao Greater Bay Area. design".
According to the "Outline" document, the Guangdong-Hong Kong-Macao Greater Bay Area includes the Hong Kong Special Administrative Region, the Macao Special Administrative Region and the cities of Guangzhou, Shenzhen, Zhuhai, Foshan, Huizhou, Dongguan and Zhongshan in Guangdong Province , Jiangmen City, and Zhaoqing City (referred to as the nine cities in the Pearl River Delta), with a total area of ??56,000 square kilometers and a total population of approximately 70 million at the end of 2017. It is one of the regions with the highest degree of openness and the strongest economic vitality in my country. In the overall development of the country, It has an important strategic position. The construction of the Guangdong-Hong Kong-Macao Greater Bay Area is not only a new attempt to promote the formation of a new pattern of comprehensive opening up in the new era, but also a new practice to promote the development of "one country, two systems".
Zhang Yansheng, chief researcher of the China International Economic Exchange Center, said that the plan greatly respects the basic conditions and differentiated division of labor positioning for the development of the Guangdong-Hong Kong-Macao Greater Bay Area.
Statistics on the full text of the "Outline" found that: Judging from the frequency of mentions, the "core engine" role of the four central cities can be seen: among them, Hong Kong was mentioned 102 times, Macau 90 times, and Guangzhou 41 times , Shenzhen 39 times. At the same time, Zhuhai was also entrusted with important tasks, and *** was mentioned 20 times. In addition, Foshan was mentioned 9 times, Huizhou 6 times, Dongguan 8 times, Zhongshan 9 times, Jiangmen 7 times, and Zhaoqing 5 times.
It can also be seen from this data that Hong Kong’s “leading” status in the Guangdong-Hong Kong-Macao Greater Bay Area is unquestionable.
For a long time in the future, cities of all sizes in the Greater Bay Area will carry out financial opening, transportation planning, industrial layout and other work under the guidance of this "general outline". So, how will the 11 cities shoulder their important responsibilities, and how will they change the urban pattern of the Greater Bay Area?
The "Outline" of the four major central cities proposes to optimize and upgrade the central cities. With the four central cities of Hong Kong, Macau, Guangzhou and Shenzhen as the core engines of regional development, we will continue to leverage our comparative advantages to become better and stronger, and enhance our role in radiating and driving the development of surrounding areas.
Hong Kong: A more competitive international metropolis
Among the four central cities, Hong Kong ranks first: consolidating and enhancing its status as an international financial, shipping, trade center and international aviation hub , strengthen the global offshore RMB business hub status, international asset management center and risk management center functions, promote the development of finance, commerce, logistics, professional services, etc. in the direction of high-end and high value-added, vigorously develop innovation and technology undertakings, cultivate emerging industries, and build the Asia-Pacific District International Legal and Dispute Resolution Service Center to create a more competitive international metropolis.
To build an international science and technology innovation center, Hong Kong has a heavy responsibility. Hong Kong is rich in technological innovation resources, but its shortcomings are also obvious, namely the lack of ability to commercialize results. To this end, the "Outline" proposes to promote the construction of the "Guangzhou-Shenzhen-Hong Kong-Macao" science and technology innovation corridor, explore policies and measures that are conducive to the cross-border flow and regional integration of innovation elements such as talents, capital, information, and technology, and finally propose Guangdong-Hong Kong-Macao Greater Bay Area big data center and international innovation platform.
At the same time, in order to give full play to Hong Kong’s financial service functions and support Hong Kong private equity funds in participating in the financing of innovative technology companies in the Greater Bay Area, qualified innovative technology companies are allowed to enter the Hong Kong listing and fundraising platform, and Hong Kong’s development Become a high-tech industry financing center in the Greater Bay Area. In addition, in terms of financial market interconnection, Hong Kong will be supported in developing more offshore RMB, commodities and other risk management tools.
Macau: Promote moderately diversified economic development
Following Hong Kong, Macau has been repeatedly named in the "Outline", as many as 90 times.
Although Macao’s economy is highly developed, its economic aggregate is not outstanding due to its small size. Moreover, the economic structure is relatively simple and over-reliant on tourism and gambling. Taking 2017 data as an example, Macau's GDP was 310.2 billion yuan, of which the gaming industry accounted for half, reaching 49.1%.
To this end, the "Outline" also puts forward a very targeted positioning for Macao:
Build a world tourism and leisure center, a business cooperation service platform between China and Portuguese-speaking countries, and promote economic development. Properly diversify development and create an exchange and cooperation base with Chinese culture as the mainstream and multi-culturalism as the mainstay.
In terms of industrial layout, support the construction of a development platform for the traditional Chinese medicine science and technology industry in Macao. Support Macao in building a financial services platform between China and Portuguese-speaking countries, establishing an export credit insurance system, and building it into a RMB clearing center for Portuguese-speaking countries. Study and explore the construction of a Macao-Zhuhai cross-border financial cooperation demonstration zone.
Guangzhou: Focusing on building an international metropolis
As the capital of Guangdong Province, Guangzhou’s status in the Guangdong-Hong Kong-Macao Greater Bay Area cannot be underestimated.
According to the "Outline", Guangzhou should give full play to its leading role as a national central city and comprehensive gateway city, comprehensively enhance its functions as an international business and trade center and comprehensive transportation hub, cultivate and improve its functions as a science, technology, education and cultural center, and strive to build an international city. city.
In terms of the construction of major innovation carriers, the "Outline" focuses on the Hong Kong-Shenzhen Innovation and Technology Park, Sino-Singapore Guangzhou Knowledge City, Nansha Qingsheng Science and Technology Innovation Industry Base and Hengqin Guangdong-Macao Cooperation Traditional Chinese Medicine Science and Technology Industry Garden, of which Guangzhou has two exclusive seats.
Accelerating infrastructure interconnection is also one of the main tasks in the current construction of the Guangdong-Hong Kong-Macao Greater Bay Area. The "Outline" revealed that the reconstruction and expansion of airports in Guangzhou and Shenzhen will be implemented, and preliminary research work on Guangzhou's new airport will be carried out. In the "Guangzhou Comprehensive Transportation Hub Master Plan (2018~2035)" announced last month, there is also a statement about "planning and studying Guangzhou's second airport."
In addition, the "Outline" also proposes to support Guangzhou in improving its modern financial service system, building a regional private equity trading market, building a regional trading center for property rights and bulk commodities, and improving its international level. Support Guangzhou in building a green financial reform and innovation pilot zone and study the establishment of an innovative futures exchange focusing on carbon emissions.
Shenzhen: An innovative and creative city with world influence
As one of the core engines of regional development, Shenzhen’s role is to serve as a special economic zone and a national economic center We will take the leading role of the city and the country as an innovative city, accelerate the construction of a modern international city, and strive to become an innovative and creative city with world influence. In terms of scientific and technological innovation cooperation, the "Outline" mentioned that not only should we promote the construction of the "Guangzhou-Shenzhen-Hong Kong-Macao" scientific and technological innovation corridor, and comprehensively build the Guangdong-Hong Kong-Macao Greater Bay Area big data center and international innovation platform, but also support the The Shenzhen National Gene Bank initiated the establishment of the “Belt and Road” Life Science and Technology Promotion Alliance.
In addition, in terms of promoting the transformation of scientific and technological achievements, we should give full play to the capital markets and financial service functions of Hong Kong, Macao, Shenzhen, and Guangzhou, and cooperate to build a diversified, international, and cross-regional scientific and technological innovation investment and financing system. In terms of the cultural and creative industry system, support Shenzhen in introducing the world's high-end creative design resources and vigorously develop the fashion and cultural industry.
As important node cities, the "Outline" also mentioned that cities such as Zhuhai, Foshan, Huizhou, Dongguan, Zhongshan, Jiangmen, and Zhaoqing should be supported to give full play to their own advantages, deepen reform and innovation, enhance the city's comprehensive strength, and form characteristics An important node city with distinctive features, complementary functions and competitiveness. Enhance the coordination of development, strengthen interaction and cooperation with central cities, drive the development of surrounding characteristic towns, and jointly improve the development quality of urban agglomerations.
Zhuhai: Cooperate with Macao in building a world tourism and leisure center
After the opening of the Hong Kong-Zhuhai-Macao Bridge, Zhuhai has become the only city connected to Hong Kong and Macao land bridges. According to the "Outline", Zhuhai will also enhance its airport functions and promote the staggered development and positive interaction of airports in the Greater Bay Area. In addition, we will deepen the reform of low-altitude airspace management, accelerate the development of general aviation, steadily develop cross-border helicopter services, and build comprehensive demonstration zones for the general aviation industry in Shenzhen and Zhuhai.
Zhuhai’s Hengqin Island, across the river from Macau, occupies an advantageous location. The "Outline" lists "the establishment of a cooperative development platform for Guangdong, Hong Kong and Macao" as a separate chapter, which focuses on the development and construction of three major platforms: Qianhai in Shenzhen, Nansha in Guangzhou, and Hengqin in Zhuhai. For example, it will cooperate with Macao in building a world tourism and leisure center, build Zhuhai Hengqin International Leisure and Tourism Island at a high level, coordinate and study measures to facilitate travel between Hengqin and Macao, and allow Macao tourism employees to provide related services in Hengqin.
Foshan: Comprehensive reform pilot for manufacturing transformation and upgrading
Foshan is an important manufacturing base in China. In order to optimize the industrial layout, the "Outline" proposes to improve the development level of the national new industrialized industry demonstration base, build an advanced equipment manufacturing industrial belt on the west bank of the Pearl River with Zhuhai and Foshan as the leaders, and support Foshan to carry out in-depth comprehensive reform pilots for manufacturing transformation and upgrading. The nine cities in the Pearl River Delta need to give full play to their respective advantages, build various cooperation parks with Hong Kong and Macao, expand the space for economic cooperation, and achieve mutual benefit and win-win results. For example, the "Outline" supports Foshan Nanhai to promote high-end service cooperation between Guangdong, Hong Kong and Macao, and build a bridge for the interconnection of Guangdong, Hong Kong and Macao's markets, talent, information technology and other economic factors.
Foshan and Guangzhou*** together form the "Guangzhou-Foshan Metropolitan Area". In terms of spatial layout, it is necessary to give full play to the leading role of the strong alliance between Guangzhou and Foshan, accelerate the integration of Guangzhou and Foshan, enhance the overall strength and global influence, and lead the Guangdong-Hong Kong-Macao Greater Bay Area to deeply participate in international cooperation.
Huizhou: Explore the opening of maritime tourism routes
The "Outline" proposes to actively expand cooperation in the fields of education, culture, tourism, social security and other areas in the Guangdong-Hong Kong-Macao Greater Bay Area, *** Together, we will create a high-quality living area with high-quality public services, suitable for living, working and traveling.
Huizhou is one of the major maritime cities in Guangdong, bordering Dapeng Bay to the west, Hong Kong to the southwest, Red Bay to the east, and the vast South China Sea to the south. The "Outline" mentioned this time that we will explore the opening of Hong Kong-Shenzhen-Huizhou-Shanwei maritime tourism routes. In addition, Huizhou will be built at a high level as a production and supply base for green agricultural products in Guangdong, Hong Kong and Macao.
Dongguan: Strategic Emerging Industry R&D Base
Dongguan is also a world-renowned manufacturing city. The "Outline" mentioned that it is necessary to build a city with Shenzhen and Dongguan as the core on the east bank of the Pearl River. World-class advanced manufacturing industry clusters such as electronic information with global influence and competitiveness, and proposed to support cities such as Dongguan in promoting the transformation and upgrading of traditional industries. In terms of comprehensively building a cooperative development platform for Guangdong, Hong Kong and Macao, Dongguan should combine its own characteristics to develop a characteristic cooperation platform. Specifically, it should support Dongguan and Hong Kong to jointly develop and build the Dongguan Marina Bay area, gather high-end manufacturing headquarters, and develop modern service industries. Build strategic emerging industry research and development bases.
Zhongshan: Deeply explore Sun Yat-sen’s cultural resources
The "Outline" mentioned that it is necessary to give full play to the comprehensive advantages of the long-term intersection and coexistence of Chinese and Western cultures in the Greater Bay Area to promote Chinese culture and other cultures exchanges and cooperation, innovating ways of cultural exchanges, enriching the content of cultural exchanges, and improving the level of cultural exchanges. Specific to Zhongshan, as the hometown of Sun Yat-sen, the document mentioned that it will be supported to deeply explore and promote Sun Yat-sen’s cultural resources. Zhuhai, Jiangmen and Zhongshan are located on the west bank of the Pearl River. Compared with other Guangdong cities in the Guangdong-Hong Kong-Macao Greater Bay Area, they are geographically closest to Macau. The "Outline" mentioned that it will promote in-depth cooperation between Macao and Zhongshan in economic, social, cultural and other aspects, and expand new space for the moderately diversified development of Macao's economy.
Jiangmen: an important platform for overseas Chinese cultural exchanges and cooperation
Jiangmen is a famous hometown of overseas Chinese. This "Outline" mentioned that Jiangmen will be supported in building an important platform for overseas Chinese cultural exchanges and cooperation. The "Outline" also proposes to support Jiangmen, Hong Kong and Macao to cooperate in building the Guangzhou Bay Economic Zone, and expand cooperation in finance, tourism, cultural creativity, e-commerce, marine economy, vocational education, life and health and other fields. Accelerate the development of the Jiangmen Silver Lake Bay coastal area to form an international energy-saving and environmental protection industry cluster and an investment, talent, entrepreneurship and innovation platform for Hong Kong and Macao residents and overseas Chinese around the world.
Zhaoqing: Green Agricultural and Sideline Products Distribution Base
The "Outline" revealed that the Guangdong-Hong Kong-Macao Greater Bay Area will focus on connecting the mainland and Hong Kong and Macao as well as the east and west sides of the Pearl River Estuary, building a high-speed railway, An intercity rapid transportation network based on intercity railways and high-grade highways strives to achieve one-hour access between major cities in the Greater Bay Area. Specifically for Zhaoqing, the "Outline" proposes that preliminary work on regional corridor projects such as the Guangzhou-Maoming, Zhanjiang-Hai'an railway and Liuzhou-Zhaoqing railway will be carried out in a timely manner, and the feasibility of further extension of the Guangzhou-Qingyuan railway will be studied.
At the same time, we will strengthen cooperation on the safety of food and edible agricultural products and build a high-level Zhaoqing (Huaiji) green agricultural and sideline products distribution base.
Eight Highlights
So, what are the key points worth paying attention to in the outline? What development opportunities will cities and industries in the Greater Bay Area face? How will the capital market dance with it? Let’s take a look at the highlights.
Highlight 1: Technological innovation is a top priority
The Guangdong-Hong Kong-Macao Greater Bay Area is a vibrant world-class city agglomeration and an international science and technology innovation center with global influence. Innovation has become a top priority in the construction of the Guangdong-Hong Kong-Macao Greater Bay Area.
The "Outline" mentions the need to promote the construction of the "Guangzhou-Shenzhen-Hong Kong-Macao" science and technology innovation corridor and explore policies and measures that are conducive to the cross-border flow and regional integration of innovation elements such as talents, capital, information, and technology. , the first to build a big data center and an international innovation platform in the Guangdong-Hong Kong-Macao Greater Bay Area.
It is worth noting that the "Outline" proposes to rely on regional equity trading markets to build a financial support platform for technological innovation and carry out intellectual property securitization pilots.
Highlight 2: Expansion of Internet broadband between Guangdong, Hong Kong and Macao
The "Outline" proposes to build a new generation of information infrastructure, build smart city clusters and improve network security levels. Promote the expansion of Internet broadband between Guangdong, Hong Kong and Macao, comprehensively deploy the next generation Internet based on Internet Protocol version 6 (IPv6), and promote the IPv6 upgrade and transformation of backbone networks, metropolitan area networks, access networks, Internet data centers and support systems. In addition, we will promote the reduction of long-distance and roaming charges for mobile phones in Guangdong, Hong Kong and Macao, and actively carry out feasibility studies on the elimination of long-distance and roaming charges for mobile phones in Guangdong, Hong Kong and Macao to provide basic support for the construction of smart cities.
Highlight Three: Promoting Financial Market Interconnection
The Guangdong-Hong Kong-Macao Greater Bay Area is built under the conditions of one country, two systems, three customs zones, and three currencies. There is no international precedent. Regarding the development of the financial industry, the "Outline" also has many highlights.
The "Outline" proposes to build an international financial hub, vigorously develop characteristic financial industries, and promote the interconnection of financial markets in an orderly manner. Among them, it is necessary to give full play to Hong Kong's leading role in the financial field, consolidate and enhance Hong Kong's status as an international financial center, and create an investment and financing platform to serve the construction of the "Belt and Road". Support Guangzhou in improving its modern financial service system, building a regional private equity trading market, building a regional trading center for property rights and bulk commodities, and improving its international level.
Support Shenzhen in developing a capital market with the Shenzhen Stock Exchange as the core in accordance with regulations and accelerate financial openness and innovation. Support Macao in building a financial services platform between China and Portuguese-speaking countries, establishing an export credit insurance system, and building it into a RMB clearing center for Portuguese-speaking countries.
The "Outline" proposes to gradually expand the scale and scope of cross-border use of RMB in the Greater Bay Area. Banking institutions in the Greater Bay Area can carry out cross-border RMB lending, RMB spot and forward foreign exchange transactions, RMB-related derivatives business, and cross-agency sales of wealth management products in accordance with relevant regulations. Companies in the Greater Bay Area can issue cross-border RMB bonds in accordance with regulations. Expand the space for cross-border investment between Hong Kong and Mainland residents and institutions, and steadily expand the channels for residents of the two places to invest in each other's financial products. Support insurance institutions in mainland China, Hong Kong and Macau to carry out cross-border RMB reinsurance business.
Highlight 4: Promote investment facilitation
The "Outline" proposes to continuously improve Shanghai-Hong Kong Stock Connect, Shenzhen-Hong Kong Stock Connect and Bond Connect. Support qualified banks and insurance institutions from Hong Kong and Macao to set up operating institutions in Qianhai, Shenzhen, Nansha, Guangzhou, and Hengqin, Zhuhai. In addition, we will deepen the implementation of the Closer Economic Partnership Arrangement (CEPA) between the Mainland and Hong Kong and Macao and open up the service industry in Hong Kong and Macao, encourage Guangdong, Hong Kong and Macao to establish professional service institutions, and promote accounting and auditing, legal and dispute resolution services, and management consulting. , inspection and testing certification, intellectual property, construction and related engineering and other professional service development. Support enterprises in the Greater Bay Area to use Hong Kong’s inspection, testing, certification and other services.
In addition, the "Outline" also proposes to promote investment facilitation, implement the CEPA series of agreements between the mainland and Hong Kong and Macao, and promote cooperation between Hong Kong and Macao in finance, education, law and dispute resolution, shipping, logistics, railway transportation, and telecommunications. , traditional Chinese medicine, construction and related engineering and other fields to implement special opening-up measures, study to further cancel or relax the qualification requirements, shareholding ratio, industry access and other restrictions on Hong Kong and Macao investors, and provide Hong Kong and Macao investors and related practitioners in Guangdong. One-stop service to better implement the opening-up measures for Hong Kong and Macao under the CEPA framework.
Highlight 5: Strengthening strategic emerging industries
The "Outline" proposes to strengthen strategic emerging industries: promote the development and growth of new generation information technology, biotechnology, high-end equipment manufacturing, new materials, etc. As a new pillar industry, cultivate an industry in key areas such as new displays, new generation communication technology, 5G and mobile Internet, protein and other biomedicine, high-end medical diagnosis and treatment equipment, genetic testing, modern traditional Chinese medicine, intelligent robots, 3D printing, and Beidou satellite applications. batch of major industrial projects.
In addition, the "Outline" proposes to explore an international free port for yacht tourism and promote the development of equestrian sports and related industries.
Highlight 6: Creating a highland for education and talents
The "Outline" proposes to study how eligible children of Hong Kong and Macao residents who work and live in the nine cities of the Pearl River Delta can receive compulsory education and education on the same basis as mainland residents. The right to high school education. In addition, Chinese citizens who are residents of Hong Kong and Macao are encouraged to hold positions in state-owned enterprises and institutions on the mainland in accordance with the law, and research is conducted to promote Chinese citizens who are residents of Hong Kong and Macao to apply for civil service jobs in the mainland in accordance with the law.
Highlight Seven: Establishing a Cooperation and Development Platform
The development and construction of Shenzhen Qianhai, Guangzhou Nansha, and Zhuhai Hengqin have always attracted much attention. The "Outline" proposes to optimize and enhance the functions of the Shenzhen Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone, expand the offshore account function, learn from the free trade account system of the Shanghai Pilot Free Trade Zone, and actively explore effective paths for capital account convertibility. The "Outline" proposes to study further expansion of Qianhai's development space.
The "Outline" proposes to build Guangzhou Nansha Guangdong, Hong Kong and Macao comprehensive cooperation demonstration zone, build Guangzhou Nansha into a highland for the transformation of scientific and technological innovation achievements in South China, promote Zhuhai Hengqin Guangdong, Hong Kong and Macao in-depth cooperation demonstration, and support Hengqin and Macao to jointly build China-Latin America economic and trade cooperation platform.
The "Outline" also mentioned supporting the construction of the Hong Kong-Shenzhen Innovation and Technology Park in the Lok Ma Chau Loop and the adjacent Shenzhen Science and Technology Park, and jointly building a scientific and technological innovation cooperation zone; supporting the cooperation between Jiangmen, Hong Kong and Macao in building a large-scale Guangzhou Bay Economic Zone, accelerate the development of Jiangmen Silver Lake Bay coastal area; promote in-depth cooperation between Macao and Zhongshan in economic, social, cultural and other aspects; support Dongguan and Hong Kong to cooperate in the development and construction of Dongguan Marina Bay area; support Foshan Nanhai to promote high-end service cooperation between Guangdong, Hong Kong and Macao .
Highlight 8: Innovative Green Development
The "Outline" proposes to promote the Greater Bay Area to carry out green and low-carbon development evaluation, strive to peak carbon emissions as soon as possible, and build a green development demonstration area. Promote the pilot experience of the Carbon Generalized System of Preferences and promote the research and application demonstration of the mutual recognition mechanism of carbon labels in Guangdong, Hong Kong and Macao. In addition, the "Outline" also proposes to accelerate the construction of large-scale oil reserve bases in the Pearl River Delta, coordinate the promotion of new liquefied natural gas (LNG) receiving stations and expand the storage and transfer capabilities of existing LNG receiving stations.
526 listed companies gather in the Guangdong-Hong Kong-Macao Greater Bay Area
As one of the most economically developed regions in China, the Guangdong-Hong Kong-Macao Greater Bay Area is also the densest distribution of A-share listed companies in China region, occupying a pivotal position in China's capital market.
Data show that as of February 18, 2019, there were 3,586 A-share listed companies, including 526 listed companies registered in 9 cities in Guangdong in the Guangdong-Hong Kong-Macao Greater Bay Area. , accounting for 89.6% of A-share listed companies in Guangdong Province and 14.67% of all A-share listed companies.
From the perspective of each city, the urban differentiation within the Guangdong-Hong Kong-Macao Greater Bay Area is obvious. Shenzhen has the most A-share listed companies, reaching 285; followed by Guangzhou, with 98 A-share listed companies; Foshan, Zhuhai, and Dongguan have 36, 28, and 27 companies respectively; Zhongshan, Jiangmen, Huizhou, Zhaoqing *** has 52 A-share listed companies.
In terms of market value, as of February 18, 2019, the total market value of A-share listed companies on the Shanghai Stock Exchange was 29.88 trillion yuan, and the total market value of A-share listed companies on the Shenzhen Stock Exchange was 18.96 trillion yuan. The total market value of the two cities was 48.84 Trillion yuan.
The market value of the 526 listed companies in the Guangdong-Hong Kong-Macao Greater Bay Area was approximately 9.18 trillion yuan during the same period, accounting for 18.79% of the total market value of A-shares.
In recent years, companies from the Guangdong-Hong Kong-Macao Greater Bay Area are an important part of the newly listed A-share companies. Taking 2017 as an example, there were 438 companies listed on the A-share market throughout the year, 89 of which were from cities in the Guangdong-Hong Kong-Macao Greater Bay Area, accounting for 20%; in 2018, there were 105 new listed companies on the A-share market , 18 of which are from cities in the Guangdong-Hong Kong-Macao Greater Bay Area, accounting for 17%.
In addition to A-shares, Hong Kong, another important city in the Bay Area, also plays an important role in the world's financial markets. In 2018, the Hong Kong stock market ranked first in the world in both the total number of IPOs and the amount of funds raised, attracting a large number of high-quality companies to list in Hong Kong.
The leading companies have obvious advantages
The listed companies in the Guangdong-Hong Kong-Macao Greater Bay Area are not only numerous in number, but also of good quality. Data shows that the number of A-share listed companies in the Guangdong-Hong Kong-Macao Greater Bay Area accounts for 14.67% of the total, but the market value accounts for 18.79%. This shows that the average market value of A-share listed companies in the Guangdong-Hong Kong-Macao Greater Bay Area is higher than that of A-share companies. average market capitalization level.
A high degree of marketization, many well-known companies, and many leading companies are a distinctive feature of the Guangdong-Hong Kong-Macao Greater Bay Area. Among the current A-share listed companies, ranging from cutting-edge leading technology industries to industries related to the daily lives of ordinary people, listed companies in the Guangdong-Hong Kong-Macao Greater Bay Area are indispensable.
Based on the closing data on February 18, 2019, there are 74 companies with a market value of more than 100 billion yuan, and 18 companies are from the Guangdong-Hong Kong-Macao Greater Bay Area, accounting for 10% of the total. 24.3%.
In addition to A-share listed companies, there are also many well-known companies listed on other capital markets in the Guangdong-Hong Kong-Macao Greater Bay Area. The existence of a large number of outstanding enterprises not only provides ample impetus for the rapid development of the Guangdong-Hong Kong-Macao Greater Bay Area, but also serves as a bright business card for the Guangdong-Hong Kong-Macao Greater Bay Area to go global.
High proportion of high-tech enterprises
In the world, the Bay Area is a highland for innovation and development.
On October 13, 2018, the "Comparative Study on the Innovation Capacity of the Guangdong-Hong Kong-Macao Greater Bay Area and the World's Three Major Bay Areas" released by the Guangdong Provincial Science and Technology Research Institute showed that the number of invention patent applications in the Guangdong-Hong Kong-Macao Greater Bay Area in 2017 The number of invention patent applications exceeded 176,000, exceeding the number of invention patent applications in the three major Bay Areas of Tokyo, New York, and San Francisco during the same period. The quantitative advantage is obvious.
From the perspective of A-shares, the 526 A-share listed companies in the Guangdong-Hong Kong-Macao Greater Bay Area are mainly concentrated in the five major industries of electronics, computers, pharmaceuticals and biology, machinery and equipment, and communications. There are a total of 241 listed companies in the five major industries, accounting for approximately 46% of the A-share companies in the Guangdong-Hong Kong-Macao Greater Bay Area. The electronics industry accounts for the largest proportion, with 92 companies accounting for 17.5%, of which high-tech companies such as semiconductors, optoelectronics, and LEDs account for the majority.
Due to geographical and market characteristics and other factors, the vast majority of the 526 A-share listed companies in the Guangdong-Hong Kong-Macao Greater Bay Area are listed on the Shenzhen Stock Exchange. Relevant data shows that the R&D investment of enterprises in the Guangdong-Hong Kong-Macao Greater Bay Area listed on the Shenzhen Stock Exchange is 50% higher than the overall average level of the Shenzhen Stock Exchange.
70% of the listed companies in Shenzhen Stock Exchange are high-tech enterprises and 40% are strategic emerging industry companies. Among the 9 cities in Guangdong in the Guangdong-Hong Kong-Macao Greater Bay Area, high-tech companies account for the highest proportion of listed companies in Shenzhen Stock Exchange. reached 80%, and strategic emerging industry enterprises reached 50%, both higher than the market average.
In addition to having a large number of high-tech enterprises, there are also a large number of traditional manufacturing enterprises in the Guangdong-Hong Kong-Macao Greater Bay Area. According to statistics, of the 526 listed companies in the Guangdong-Hong Kong-Macao Greater Bay Area, 341 are manufacturing companies in the industry classification of the China Securities Regulatory Commission, accounting for about 65%. The developed manufacturing system and sound industrial system have laid a solid foundation for the development of advanced technology industries such as artificial intelligence, intelligent manufacturing, and new materials in the Guangdong-Hong Kong-Macao Greater Bay Area.
Source: Xinhua News Agency, Securities Times, Daily Economic News, Economic Information Daily, comprehensive compilation by China Housing Network