China's Greater Bay Area - Business Opportunities for Danish Companies

Over the past decades, China’s center of gravity of economic activity has shifted toward the South, a trend that seems to continue. The economic potential in China's Greater Bay Area (GBA) is immense, with regional GDP growing faster than the average across China.

Given the cluster’s large consumer base, diverse industry landscape, strategic infrastructure enhancements, talented workforce, and efforts to lower market entry barriers, one key question emerges: How can Danish companies tap into the long-term opportunities in the GBA?

Join us for this webinar, where we in collaboration with experts with extensive experience from the region, explore how financial sector openness and simplified market access in China's Greater Bay Area unlock business opportunities for foreign companies as illustrated by insights from the case company: Lundbeck.

Speakers:

• Søren Bindesbøll, Consul General of the Royal Danish Consulate in Guangzhou
• Professor XU Lihe, Associate Dean of GBA Institute, Guangdong University of Foreign Studies (GDUFS)
• Professor LI Xing, Professor Emeritus Aalborg University, Guangdong Institute for International Strategies (GIIS)
• Minglei Zhu, Vice President for Government Affairs & Market Access, Lundbeck China

Agenda:

09:00-09:05 - Welcome Remarks & Introduction
by Hans Henrik Pontoppidan, Secretary General of DCBF

09:05-09:20 - Welcome Remarks on Danish Business in the Greater Bay Area
by Søren Bindesbøll, Consul General at the Royal Danish Consulate in Guangzhou

09:20-09:35 - Overview of China’s Greater Bay Area
by Professor XU Lihe, Associate Dean of GBA Institute, Guangdong University of Foreign Studies (GDUFS)

09:35-09:50 - China’s Global Rise: Trajectories, Opportunities and Challenges
by Professor LI Xing, Professor Emeritus Aalborg University, Guangdong Institute for International Strategies (GIIS)

09:50-10:05 - Company Case: How Lundbeck maks use of the GBA Opportunities
by Minglei Zhu, Vice President for Government Affairs & Market Access, Lundbeck China

10:05-10:30 - Q&A and Closing Remarks

Overview of China’s Greater Bay Area

The Guangdong - Hong Kong - Macao Greater Bay Area, alsoo simply known as the Greater Bay Area (GBA), is a megalopolis with the largest and most populated urban area among the four largest bay areas in the world. It consists of nine cities in China's Guangdong Province, being Guangzhou, Shenzhen, Dongguan, Foshan, Zhongshan, Zhuhai, Huizhou, Jiangmen & Zhaoqing, as well as the two special administrative regions, Hong Kong and Macao. The total population is 86 million people, or 5% of China's total, and is expected to rach 100 million by 2030. Since the announcement of the outline GBA development plan in 2019, the total GDP of the area has surpassed 13 trillion yuan. Already today, GBA is not only a huge and dynamic consumer market in itself, but also a critical export hub accounting 37 % of China's exports. The GBA infrastructure includes five international airports, advanced high-speed railway connections, and three of the World's top ten containerports

In December 2023, China revealed a three-year action plan for the GBA focusing on increasing openness in Mainland China's financial sector with the intention of enhancing the market environment in the GBA. The plan envisions simplified market entry procedures and institutional barrier elimination in order to reduce costs and promote a sound ecosystem for business, and intends to ease regulatory standards potentially boosting the attractiveness of the GBA for foreign enterprises.

While the regulations and integration of the area are only starting to take shape these years, the GBA is envisioned by Chinese Government planners to become an integrated economic area by 2035.

Please contact info@dcbf.dk if you have any questions.