The two-day Second Business Conference on Guangdong-Hong Kong-Macao Greater Bay Area Development opened today at the Convention & Exhibition Centre.

It attracted about 1,000 business leaders and representatives of enterprises from Hong Kong, Guangdong and Macau, as well as from other Mainland cities and overseas for in-depth exchanges on key issues relating to the development of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) for promotion of the advantages and opportunities of the GBA.

Under the theme "Development of the Greater Bay Area in China to Provide Opportunities for the World", the conference provides a platform for the governments and the business sector to jointly drive forward the development of the GBA, enabling Guangdong, Hong Kong and Macau to leverage their respective strengths in serving the country's needs and contributing together to the country's high-quality development.

Chief Executive John Lee said in his speech that the GBA, one of the most economically vibrant and open regions in the country with an economic scale close to that of the 10th largest economy in the world, is becoming increasingly influential in the country and in the world, demonstrating great potential for development.

He added that as one of the core cities in the GBA and with its unique advantages under "one country, two systems", Hong Kong is complementing the strengths of other GBA cities in enhancing the measures that promote mutual connectivity, playing the role of an active participant, facilitator and beneficiary of the GBA's development.

A number of measures relating to the participation in the GBA's development have been rolled out in this year's Policy Address, including promoting the development of the Hong Kong-Shenzhen Innovation & Technology Park in the Loop, as well as strengthening the mutual market access regimes and harmonisation of rules and mechanisms in areas such as logistics, aviation, professional qualifications, capital, data flow and legal matters.

The Chief Executive said Hong Kong will serve as the power source for the high-quality development of the GBA, promoting the efficient flow of people, goods, capital and information in the region.

At the opening ceremony, Deputy Secretary for Justice Cheung Kwok-kwan signed a memorandum of understanding with the China Council for the Promotion of International Trade (CCPIT) to further enhance collaboration of the two sides in areas such as the development of foreign-related rule of law, multifaceted dispute resolution and the nurturing of foreign-related legal talent.

Financial Secretary Paul Chan said in his speech at the welcoming luncheon that with the development momentum generated by the dual engines of finance and innovation and technology, the GBA possesses advantages comparable to the combined strengths of the San Francisco Bay Area and the New York Bay Area in the US.

He also highlighted Hong Kong's internationalised advantages under "one country, two systems", exemplified in particular in financial services and legal systems.

Looking ahead, with the strong support of the country, Hong Kong is actively driving forward the development of the "eight centres", and deepening co-operation with sister cities in the GBA, especially in promoting high-quality development in the areas of finance, innovation and technology and trade to create a more favourable business environment and greater business opportunities for businesses from around the world.

Secretary for Commerce & Economic Development Algernon Yau also gave a speech at the opening ceremony.

The conference is jointly organised by the Hong Kong Special Administrative Region Government, the CCPIT, the People's Government of Guangdong Province and the Macao Special Administrative Region Government, with the Hong Kong Trade Development Council as the strategic partner.