China’s Greater Bay Area provides OCBC with enticing growth story at right moment

SINGAPORE (June 25): Oversea-Chinese Banking Corp is in the enviable position of being early to a party that might be quickly getting into full swing.

Last year, China began referring to a “Greater Bay Area” comprising Guangdong, Hong Kong and Macau. Since then, the term has come to represent a broad initiative to link up nine cities in the Pearl River Delta (PRD) region — Guangzhou, Shenzhen, Zhuhai, Foshan, Zhongshan, Dongguan, Huizhou, Jiangmen and Zhaoqing — with Hong Kong and Macau to form an economic and business hub. The GBA covers less than 1% of China’s land area and is home to less than 5% of its population, but contributed 12% of China’s GDP last year.