Greater Bay Area & ASEAN ink deals worth $1.7 bn

02 Aug '23

1 min read

Pic: Shutterstock/NGCHIYUI

Insights

Seven economic cooperation projects, worth 12.1 billion yuan, have been agreed between the Guangdong-Hong Kong-Macao Greater Bay Area and ASEAN countries.
The agreements were signed at the 2023 ASEAN-China Greater Bay Economic Cooperation Forum in Shenzhen.
The projects focus on industrial park construction, digital economy, and agricultural cooperation.

Seven key economic cooperation projects between the Guangdong-Hong Kong-Macao Greater Bay Area and the Association of South East Asian Nations (ASEAN) countries have been agreed upon, totalling 12.1 billion yuan (about $1.7 billion). The projects were signed in Shenzhen during the recently held 2023 ASEAN-China Greater Bay Economic Cooperation (Qianhai) Forum.

These projects focus on areas such as industrial park construction, the digital economy, and agricultural cooperation. Two new alliances were also established at the forum—the Greater Bay Area-ASEAN International Chamber of Commerce Alliance and the China-ASEAN Think Tank Partnership, according to local media reports.

Furthermore, an initiative was proposed for a closer economic partnership between the Greater Bay Area and ASEAN, emphasising enhanced economic collaboration and strengthened people-to-people connections. Measures in the initiative include support for a representative office of the China-ASEAN Center in Shenzhen, the exploration of an investment fund, and the establishment of a network for cooperation between universities, think tanks, and research institutions.

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