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Global Bay Area Economic Forum 2025

The Global Bay Area Economic Forum 2025, organized by the Our Hong Kong Foundation (OHKF), The Guangzhou Institute of the Greater Bay Area (GIG), and Macao Foundation, is set to harness innovative economic strategies from the world’s prominent bay regions, offering insights for regional development. As the forum unfolds, an emphasis is placed on understanding and utilizing the opportunities that arise from the booming Bay Area economies, with specific focus on advancing the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).

This forum is particularly timely as discussions align with the national priorities articulated in the recently published “15th Five-Year Plan.” It highlights themes of high-quality development and innovation as key drivers for future growth. This year's sessions will delve into how artificial intelligence can lead to industrial upgrades and how biopharmaceutical innovations can be promoted to integrate seamlessly with global value chains.

Keynote Insights

The forum will feature notable speakers who will provide opening remarks reflecting on the region's economic momentum. Mr. Wong Wai-lun, Deputy Financial Secretary of the HKSAR, emphasizes the importance of the theme ‘Creating New Economic Momentum,’ which resonates with the directives of the 15th Five-Year Plan that positions the GBA as a crucial engine for robust development. He stresses Hong Kong’s strategic role in bridging the Chinese Mainland with international markets, particularly in emerging sectors like AI and high-tech industries.

Mr. Deng Haiguang, Vice Chairman of the Guangdong Provincial Committee of the Chinese People’s Political Consultative Conference, highlights the GBA’s evolution into a leading industrial cluster globally. He notes the importance of diverse sectors including AI and biomanufacturing and reflects on the balance between traditional and modern service industries, particularly in Hong Kong and Macao.

In a similar vein, Dr. Bernard Chan, Under Secretary for Commerce and Economic Development, sheds light on Hong Kong's unique regulatory environment and its attractiveness to global businesses. He outlines how the city’s infrastructure is equipped to support innovation and fostering collaborations within frontier sectors.

Vision for Pharmaceutical and AI Development

The forum is structured into two primary segments focusing on biopharmaceuticals and artificial intelligence. Professor Lo Chung-mau, Secretary for Health of the HKSAR, discusses Hong Kong’s shifting landscape towards biomedical innovation. He underscores the establishment of a new '1+' drug approval mechanism that has successfully greenlit 15 new drugs and initiated over 70 clinical trials, positioning the region as a nexus for both Eastern and Western medical advancements.

On the topic of technological integration, Ms. Cheong Man-lei, Under Secretary for Innovation, Technology and Industry, remarks that Hong Kong will persistently harness its strengths to elevate AI-driven initiatives that enhance scientific research and cross-sector growth.

A Collaborative Future

This forum enjoys substantial backing from various stakeholders, including premier sponsors like The Hong Kong Jockey Club and Nissin Foods Company Limited. This broad spectrum of support serves to reinforce the commitment toward harnessing economic potential through collaboration across sectors.

Conclusion

Ultimately, the Global Bay Area Economic Forum 2025 stands as a beacon for innovation, collaboration, and sustained economic growth in the Greater Bay Area. With leaders from multiple sectors converging to share insights, explore synergies, and foster partnerships, it aims to turn visions into actionable pathways for the future. The GBA is on the cusp of becoming a significant player in shaping global economic trends, driven by its agile economy and innovative spirit.