"The rapid economic development of the Greater Bay Area has demonstrated the area is gradually becoming an internationally competitive world-class city cluster. The integration of cities within the region, the technology-driven economic transition and the continuously growing wealth of local residents will bring enormous opportunities for business expansion to international companies," said Daniel Chan, Greater Bay Area head at HSBC Bank (China) Co Ltd.

According to survey results released by HSBC on Nov 2, three-fourths of more than 2,100 overseas companies from 10 major economies plan to increase their investments in the Guangdong-Hong Kong-Macao Greater Bay Area in the next three years. Thirty-eight percent of the companies said they will put their primary focus of investment on science and technology innovation. Thirty-five percent of companies said a higher level of science and technology development is the most attractive element of the GBA.

"Our survey shows overseas companies, especially those in the Asia-Pacific region, are highly optimistic about the business environment in the GBA. The inflow of investment from overseas will further boost cross-border capital flows and international trade growth, thus promoting the GBA to an important hub interconnected with the regional economic and trade corridor," Chan said.