Even in the midst of a slowing Chinese financial system and continuing political unrest across Hong Kong, there are many investment and business opportunities in the country’s Greater Bay Area, stated Xiao Wunan—Executive Vice Chairman of the China-supported APECF (Asia Pacific Exchange and Cooperation Foundation). Reportedly, the Guangdong-Hong Kong-Macau Greater Bay Area includes two individual administrative territories (Macau and Hong Kong) and nine Chinese cities in the Guangdong province. During the East Tech West conference, Xiao said to CNBC that the Greater Bay Area is an integral historical, economic, and political region of China.
He further added that this part has always acted as a “window” to China for the outside world. In the past, Guangdong was a port of entry and a huge trading center. And whilst Nansha is a major innovative region in the province, he reported there are several opportunities and as well as beyond the district. Beijing has alleged the Chinese financial system has been encountering a supply-side reformation for a number of years now, and Xiao said that at the time of transition, the economy “will experience some short-term pain.”
On a similar note, recently, a venture capitalist said that the Middle East entrepreneurs have shifted their focus to China from Silicon Valley. Entrepreneurs from the Middle East region are no more obsessed by Silicon Valley, reported one venture capitalist. As an alternative, they are seeking motivation from China’s mobile-first business representations—like payments, e-commerce, and health care—as per Benjamin Harburg—Managing Partner of MSA Capital. Harburg said, “Definitely from a technical outlook, entrepreneurs across the Middle East are identifying those factors by learning from best Chinese practices, they can speed up their learning curve and put up businesses that are very scalable, extra asset-light, and eventually, can win in that region by adopting Chinese techniques rather than perhaps things that were forged in Silicon Valley.”
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