THE IMPACT OF GUANGDONG-HONG KONG-MACAO GREATER BAY AREA INTEGRATION ON SOCIAL AND ECONOMIC DEVELOPMENT

The integration of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) is one of the key initiatives in China’s regional development, encompassing nine cities in Guangdong Province and the special administrative regions of Hong Kong and Macao. The region serves as a center for innovation, trade, and culture. The relevance of this study arises from the need to analyze integration processes that promote socio-economic development and address barriers limiting their effectiveness. The study aims to examine the impact of integration on the region’s socio-economic development, identify sustainable growth factors, and develop recommendations for optimizing integration processes. Integration fosters significant economic and social benefits. The region’s total GDP in 2023 reached CNY 13 trillion (USD 1.8 trillion), driven by the development of innovative technologies, finance, and trade. Export volumes amounted to CNY 4.5 trillion, with CNY 1.2 trillion attributed to high-tech products. Infrastructure development includes the construction of bridges and the modernization of ports and railway lines. For instance, the Hong Kong-Zhuhai-Macao Bridge reduced travel time between regions from 3 hours to 30 minutes. In education, integration enabled the implementation of 20 university programs involving over 50,000 students. Recommendations to address issues include harmonizing regulatory frameworks, supporting small businesses, developing environmentally sustainable infrastructure, and investing in human capital. The integration processes in the Guangdong-Hong Kong-Macao GBA hold significant potential for accelerating socio-economic development. They improve the population’s quality of life, GDP growth, job creation, and infrastructure development. However, overcoming existing barriers is essential to maximize their impact. The proposed recommendations will enhance the efficiency of integration, ensure socio-economic stability, and promote the sustainable development of the region.