The future prosperity and decline of humanity may depend on whether the world can find suitable ways of cooperation. The Greater Bay Area is an example of cooperation under the great changes in the global development pattern. Lord Davidson, a spokesperson for the UK Labour Party's Shadow House Finance Department and a member of the House of Lords, explained the importance of high-quality development in the Guangdong Hong Kong Macao Greater Bay Area from another perspective at this "Understanding China" special forum. From April 18th to 20th, the special forum on "Understanding China · Dialogue Bay Area" was held in Guangzhou. The theme of this session is "Chinese path to modernization and new opportunities in the world". Guests from all over the world gathered, and wonderful ideas emerged frequently, to observe the new opportunities brought to the world by Chinese path to modernization from different perspectives. The Guangdong Hong Kong Macao Greater Bay Area has become the focus of this forum because of its important strategic position in the new national development pattern and its new mission of "becoming a strategic fulcrum of the new development pattern, a demonstration site for high-quality development, and a leading place for Chinese path to modernization". Institutional innovation, high-level opening up to the outside world, and an international business environment... Through the Guangdong Hong Kong Macao Greater Bay Area, the world is witnessing high-quality development in China. Institutional innovation interprets the new connotation of China's "Chinese path to modernization" The Guangdong Hong Kong Macao Greater Bay Area regards "building a first-class bay area and world-class urban agglomeration with vitality and international competitiveness, and creating a model of high-quality development" as its long-term strategic goal. Its thriving vitality and favorable business environment have attracted the attention of attendees. The Greater Bay Area of Guangdong, Hong Kong, and Macao proves what serious planning can achieve, "Lord Davidson said at the forum. Since the implementation of the "Outline of the Development Plan for the Guangdong Hong Kong Macao Greater Bay Area", major cities such as Guangzhou have always adhered to optimizing the foreign business environment and strengthening high-quality opening-up to the outside world. Nowadays, the Guangdong Hong Kong Macao Greater Bay Area is gradually achieving cross-border collaborative innovation within the region with "one country, two systems, three tariff zones, and three currencies". Not long ago, the statistical departments of Guangdong, Hong Kong, and Macao successively released economic data for 2022, and the Guangdong, Hong Kong, and Macao Greater Bay Area performed outstandingly. According to data, the total economic output of the Guangdong Hong Kong Macao Greater Bay Area in 2022 exceeded 13 trillion yuan. According to other statistics, as of the end of 2022, the governments of Guangdong, Hong Kong, and Macao jointly held the Guangdong, Hong Kong, and Macao Greater Bay Area Global Investment Conference, with 853 cooperation projects reached on-site and a total investment of 2.5 trillion yuan. In February of this year, after the release of reform and innovation measures to promote deepening financial cooperation in the Greater Bay Area, the institutional innovation in the Guangdong Hong Kong Macao Greater Bay Area once again attracted widespread attention from overseas media. The website of Hong Kong's South China Morning Post quoted HSBC as saying: "These measures will promote the capital flow in the Greater Bay Area and support the economic integration of the region." While promoting the business environment and financial construction, the Greater Bay Area of Guangdong, Hong Kong and Macao has also continued to deepen regional green finance cooperation, improve the scale of green bond issuance, and explore the establishment of a unified green finance standard. Under the support of institutional innovation, the scale of the green bond market in the Greater Bay Area continues to rise. According to an article published by Yomiuri Shimbun in Japan, the Guangdong Hong Kong Macao Greater Bay Area aims to create a highly developed Bay Area economy comparable to New York and Tokyo. The article believes that the construction of the Guangdong Hong Kong Macao Greater Bay Area will definitely continue to be promoted. Participants stated that the development achievements in major areas such as business environment, finance, and dual carbon in the Guangdong Hong Kong Macao Greater Bay Area
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