Category Archives: Industries

New cruise to link Guangzhou, Hong Kong

Dream Cruises will open a one-day Guangzhou-Hong Kong cruise route at the end of April, offering a new way of traveling between the two cities, reports News Guangdong.

The cruise will depart at 11:00 am every Friday in Guangzhou and every Sunday in Hong Kong and arrive at its destination at 5:30 pm the same day.

With a ticket price of RMb499 ($74.45), passengers can enjoy different cuisines and entertainment facilities on the cruise during the six and a half hour long journey that combines sightseeing, leisure and entertainment.

SZ airport to run ferries to Zhuhai

Passengers flying into Shenzhen can now take a direct ferry to Zhuhai, reports Shenzhen Daily.

Ferries already run from the Shenzhen Airport Ferry Terminal to the Hong Kong airport and Macau. The new service will be operated by Shenzhen Oceanus Group, running 16 services between the two cities from 7:30 am to 8 pm. The first ferry will depart from Shenzhen at 8:50 am, with the service generally operating at 90-minute intervals. A single trip takes 60 minutes and costs RMB125 (US$19) per person. A bus service linking the Shenzhen airport and the ferry terminal has been arranged.

HK students vie for mainland universities

A record 3,511 Hong Kong students applied for universities on the mainland this year, mostly in Guangdong, according to China Daily.

The number of applicants for the Scheme for Admission of Hong Kong to Mainland Higher Education Institutions – one of the major means for the city’s youth to try to enter mainland universities – experienced a 9.2% rise from last year.

The Hong Kong-based center, affiliated with the Ministry of Education, attributed the increase to the development blueprint launched recently for the Greater Bay Area. Mainland universities have also been boosting their international profiles in recent years.

Guangzhou to launch GBA promotions

Guangzhou plans to push a new promotion designed to attract tourists to visit the entire Greater Bay Area, not only the provincial capital. Moreover, the city will facilitate mutual recognition of qualifications for travel agencies and tour guides in Guangzhou, Hong Kong and Macau, according to the local media 21st Century Business Herald.

Guangzhou generated more than RMB400 billion from tourism last year, a 10% increase from the previous year. The city government has also recently released a proposal on how to encourage domestic consumption, in which it placed tourism as a top sector, followed by culture, sports and health.

Guangzhou’s overall competitiveness in tourism is ranked third in China, after Beijing and Shanghai. In 2018, Guangzhou received 223 million inbound trips, up 9.23% from the previous year. Of these, more than nine million were overnight trips, up 0.02%. The city’s foreign exchange earnings from tourism were US$6.48 billion, up 2.7%.

Among the 11 GBA cities, Guangzhou scored the highest in tourism revenue, followed by Hong Kong’s RMB256.2 billion, Shenzhen’s RMB148.2 billion and Foshan’s RMB709 million.

Guangzhou and Hong Kong recently collaborated to launch China’s first tourism “Red List”, which includes 196 travel agencies, 40 from Guangzhou and 156 from Hong Kong. The two cities also looking at ways to expand the list to all GBA cities, focusing on boosting service levels and easing visa approvals while also improving the border-crossing experience.

Banks to help with Qianhai company setup in HK

Shenzhen’s Market Supervision Administration announced that it has partnered with a number of Hong Kong and Shenzhen banks to launch a new service that will allow investors to conveniently register a new company in Shenzhen’s Qianhai district.

The so-called “Shenzhen-Hong Kong Easy Connect, Easy Registration”(深港通注册易) scheme will rely on Bank of China, ICBC, China Merchants Bank and Chong Hing Bank to provide company registration services, in addition to opening bank accounts. The service will not only save on travel time between Hong Kong and Shenzhen, but also make the process a lot easier for a Hong Kong resident who may not be familiar with procedures involved in cross-border investment.

The scheme will start in Shenzhen’s Qianhai Free Trade Zone, which is not far from the Shenzhen Bay bridge connecting to Hong Kong, and later expand to other districts.

Philip S.M Fung, deputy chief executive of Chong Hing Bank, said the new service has “taken down geographic barriers” while also setting an example to push forward increased connectivity among GBA cities while exploring new models for financial services development.

Shenzhen bourse launches GBA indexes

The Shenzhen Stock Exchange launched two new indexes Tuesday to track innovative businesses in the Greater Bay Area as the central government pushes broadly to enhance financial links in the region, reports Caixin Global.

The two indexes will track listed companies registered or headquartered in the Greater Bay Area and shares traded in Hong Kong, Shenzhen and Shanghai that are qualified for the stock connect program, a cross-boundary investment channel linking China’s mainland stock exchanges and the Hong Kong market.

As part of China’s Greater Bay Area development plan, the launch of the two new indexes is aimed to reflect business performance in the region and diversify investment options, the exchange said.

The Bay Area Innovative 100 index includes 100 companies that are in emerging sectors including advanced manufacturing, services, marine business and other strategic industries. Companies listed by the index need to meet certain criteria such as market value, innovative capacity and market share.

The 10 largest stocks tracked by the index include Tencent Holdings, Ping An Insurance, Hong Kong Exchanges and Clearing Ltd. and China Merchants Bank.

The second, broader new index is the Bay Area Composite Index. Both indexes will start from a base of 1,000 and will track stock performance starting June 30, 2017.

 

IHG focused on Hengqin, CEO says

UK-based InterContinental Hotels Group (IHG) has chosen Zhuhai for the celebration of the opening of its 400th hotel in China. This reflects its determination to develop in the Greater Bay Area, above all Hengqin Island, Jolyon Bulley, CEO of IHG China told local media Yicai Global.

Hengqin, the Zhuhai special economic zone facing Macau, has just been approved by the State Council as an “International Leisure and Tourism Center”. IHG is in discussions with developers on the island to understand local conditions and the masterplan for tourism, finance, education and commerce. The company expects to build hotel projects in Hengqin and is very upbeat about the potential for future development, Bulley said.

IHG had about 78,000 hotel rooms under construction in China as of the end of last year, and the company will site its new projects, especially mid-end hotels, in second-, third- and fourth-tier cities, Bulley added.

Logistics chief says HZMB not yet right for trucks

George Yeo, head of Kerry Logistics, knows the art of diplomacy. The former Singaporean foreign minister now heads one of the Greater Bay Area’s biggest logistics companies, Kerry Logistics. Yet it is clear in this feature on SCMP that he has decided it’s time to speak some hard truths. Here is an excerpt:

“The details are very important. Right now we have the broad framework and the general idea [of the plan]. We have to go down now to the nitty gritty, to the specific details,” Yeo said.

“There is still very little cargo going across because the rules are not clearly settled with the customs authorities. I am sure it will be resolved within a few months. There are practical details about how to clear containers and where to clear them and the smoother it is the better.”

“The clearer the rules are the more the trucks that carry such containers can pass through with minimum friction.”

Read the full story here