The sixth edition of The Greater Pearl River Delta (GPRD) Report, published by Invest Hong Kong, highlights Hong Kong's central position in the region’s development and shows why the area holds great promise for the future.

The sixth edition of the Greater Pearl River Delta (GPRD) Report, published by Invest Hong Kong (InvestHK), highlights Hong Kong’s central position in the region’s development and shows why the region holds great promise for the future.

The report was officially released at a May 28 luncheon presented by the Australian Chamber of Commerce, in conjunction with InvestHK and the InterCham PRD Committee in Hong Kong.

In the past 20 years, the GPRD has become one of the most affluent and fastest-growing regions in mainland China and one of the world’s most dynamic economic areas, with an average annual gross domestic product growth rate in excess of 11% over the past 18 years.

In 2008, nominal gross domestic product for the GPRD (including Hong Kong and Macau) reached US$665 billion, an increase of 41% since 2006 (US$472 billion). According to the World Bank’s 2008 ranking of countries by GDP, the region placed 18th, ahead of such countries as Poland, Indonesia, Belgium, Sweden, Switzerland and Saudi Arabia.

Similarly, the region’s GDP per capita (including Hong Kong and Macau) increased from US$8,787 in 2006 to US$12,039 in 2008. Its imports rose from US$218 billion in 2006 to US$270 billion in 2008, accounting for 24 percent of imports to the Mainland in 2008. Exports increased from US$289 billion in 2006 to US$387 billion in 2008, or 27 percent of exports from the Mainland in 2008.

A range of key policy initiatives, including the recent Outline Plan for the Reform and Development of the PRD (2008-2020), and cross-border infrastructure projects, such as the Hong Kong-Zhuhai-Macau Bridge and the Guangzhou-Shenzhen-Hong Kong Express Rail Link, contribute to the improvements in connectivity within and between the GPRD and the rest of the world, making it easier for investors to access opportunities there than ever before.

This rapid economic and business development and urbanization in the GPRD have made the region even more attractive to investors, according to Director-General of Investment Promotion at Invest Hong Kong Simon Galpin.

“Hong Kong is the traditional access point for multinational companies into the GPRD and Asia Pacific. This latest edition of the report highlights the ways in which overseas companies are using Hong Kong as part of their successful GPRD business strategies. I am confident that this book will be a useful guide for those that are interested in launching or expanding their operations in Hong Kong and the GPRD,” said Mr. Galpin.

Michael Enright, one of the report’s authors, provided an overview of the main findings of the sixth edition. “Much has happened since the publication of the fifth edition of this book in 2007. Indeed, the GPRD has increased in importance as a production center and a market within the Mainland and globally. As part of the GPRD, Hong Kong is becoming not only a place where the rest of the world meets China, but also where China meets the rest of the world,” he said.