On 1 July 2017, the National Development and Reform Commission ("NDRC"), the Guangdong Provincial People's Government, the Government of the Hong Kong Special Administrative Region, and the Government of the Macao Special Administrative Region entered into the Framework Agreement on Deepening Guangdong-Hong Kong-Macao Cooperation in the Development of the Bay Area (the "Agreement") in Hong Kong. The Agreement is meant to achieve win-win outcomes through complementary cooperation and promote the construction of the Greater Bay Area through concerted efforts.

Key Cooperation Areas

1. Promote infrastructure connectivity

To strengthen transport links between the mainland and Hong Kong and Macao, and build an efficient and convenient modern integrated transport system, and to leverage the strengths of Hong Kong as an international transportation center, lead other cities in the Greater Bay Area to jointly build world-class port and airport clusters, improve the layout of motorways, railways and city rail transit networks, and enhance the connectivity of various modes of transport to provide integrated and efficient transport services.

To improve transport infrastructure within and outside cities, make inter-city transport more convenient, jointly take forward the development of key projects in the region including the Hong Kong-Zhuhai-Macao Bridge, the Guangzhou-Shenzhen-Hong Kong Express Rail Link and the New Guangdong-Macao Link, and build a convenient transport ring within the region.

To build stable and safe energy and water supply systems and further enhance the level of information and communications network infrastructures and expand their network capacity.

2. Enhance the level of market integration

To implement the Closer Economic Partnership Arrangements ("CEPA") between the Mainland and Hong Kong and Macao and their Supplements, promote the convenient flow of factors of production, enhance the efficiency of immigration and customs clearance and the flow of people and goods, and create a business environment that has global competitiveness.

To encourage an increase in investment between Mainland enterprises and Hong Kong and Macao enterprises. To encourage Hong Kong and Macao people to invest, set up businesses and take up employment in Guangdong, provide Hong Kong and Macao residents with more development opportunities, and make it more convenient for Hong Kong and Macao residents to live in the mainland.

3. Build a global technology and innovation hub

To continuously improve the level and efficiency of translating research and development results, and accelerate building an economic system and a development model mainly driven and supported by innovation.

4. Build a modern system of industries through coordinated development

To nurture strategic emerging industry clusters, establish a platform for cooperation in the development of industries, and build a coordinated open and innovative system of industries led by high-end industries, highlighted with distinctive features, and possessing green and low-carbon characteristics.

5. Build quality circles for ideal living, working and travelling

Focusing on improving livelihoods, enhancing the capabilities and quality of social administration and public services, increasing the supply of quality public services and daily necessities, building an international education highland, improving the employment and entrepreneurial service systems, strengthening people-to-people exchanges, promoting the rigorous development of culture and of tourism in the region, and supporting Macao's development as a training base for education in tourism. Jointly build a healthy bay area, improve the ecological conservation and environmental protection cooperation mechanism, and emphasize a green and low-carbon approach.

6. Cultivate new strengths in international cooperation

To deepen cooperation with countries along the "Belt and Road" in infrastructure connectivity, commerce and trade, financial services, ecological and environmental protection and people-to-people exchanges, and jointly build an important support area for pursuing the Belt and Road Initiative. To support Guangdong, Hong Kong and Macao in international collaboration on production capacity and "going global", further improve the platform for opening up, make better use of the ties with overseas Chinese, and support the Greater Bay Area in taking the lead and setting an example for the nation's high-level international collaboration.

7. Support the establishment of major cooperation platforms

To promote the development of major Guangdong-Hong Kong-Macao cooperation platforms in Qianhai of Shenzhen, Nansha of Guangzhou and Hengqin of Zhuhai, and elsewhere, fully leverage the areas' demonstration functions and leading roles in deepening reform, expanding the scope of opening up and promoting cooperation, and replicate and promote their successful experiences. To promote a business start-up and employment base for young people in Hong Kong and Macao. To support the establishment of cooperation platforms including the Hong Kong-Shenzhen Innovation and Technology Park, the Jiangmen Greater Guanghai Bay Economic Region and Guangdong-Macao Comprehensive Cooperation Demonstration Zone in Zhongshan. To leverage the demonstrative effect of the cooperation platforms and expand the development potential for micro, small and medium enterprises of Hong Kong and Macao.

Institutional Arrangement

The four parties shall convene annual consultation meetings to coordinate and resolve major problems and issues of cooperation arising from the development of the Greater Bay Area.

The four parties shall put forward annual work plans on key areas for taking forward the development of the Greater Bay Area. The NDRC shall consult the People's Government of Guangdong Province, the Governments of the Hong Kong and the Macao Special Administrative Regions and relevant Mainland authorities on the plans, and deliver a concerted effort in their implementation once a consensus has been reached. The People's Government of Guangdong Province and the Governments of the Hong Kong and Macao Special Administrative Regions shall put in place a working mechanism for taking forward the development of the Greater Bay Area.

To leverage the functions of organizations such as industry associations and think tanks, support commerce, industry, labor and professional services as well as academic and other sectors in deepening cooperation and exchange in order to jointly participate in the development of the Greater Bay Area, with all efforts undertaken to publicize the Guangdong-Hong Kong-Macao Greater Bay Area.