Standard Chartered and Hong Kong Trade Development Council has launched the Standard Chartered GBA Business Confidence Index, the first forward-looking quarterly survey in the market that looks at the business sentiment and synergistic effects across cities and industries in the Guangdong-Hong Kong-Macao Greater Bay Area.
The index was established to provide the latest business intelligence for those who are keen to grow their presence in the Greater Bay Area.
The index will be released every quarter and is computed from the analysis of more than 1,000 responses of GBA companies on their overall operations, business environment and expansion plan. The index includes five sub-indices which give indications on the business confidence for each industry, including manufacturing and trading, retail and wholesale, financial services, professional services and innovation and technology. It enables investors and businesses to better understand the current business climate, gauge future performance and formulate their market strategies in the Greater Bay Area.
Mary Huen, CEO, Hong Kong, Standard Chartered, says: “We are very pleased to join forces with the HKTDC to introduce the first GBA business confidence index in the market. We believe that the survey will help the public and companies in the region make appropriate strategic decision with economic insight in today’s ever-changing market environment.
“The Greater Bay Area is one of the biggest growth drivers of the Chinese economy and plays a significant role in the opening of China and gives companies in the region full play to the composite advantages of Guangdong, Hong Kong and Macao.
“It will also help promote coordinated regional economic development and inject new impetus into the diversified development of Hong Kong economy. Standard Chartered will endeavour to expand our business in the region and would like to leverage its talents and technology in finance to develop our innovative financial products and services.”
Margaret Fong, executive director, HKTDC, adds: “We are delighted to collaborate with the Standard Chartered again. By launching the first GBA Business Confidence Index in the market, we can assist businesses to formulate timely development plans and capture new opportunities. The HKTDC has signed agreements with the other 10 Greater Bay Area cities to facilitate companies in the region to expand their businesses through Hong Kong’s two-way platform, strengthening the city’s position as the region’s global investment and business hub. Going forward, we will help businesses tap into Greater Bay Area markets by providing them with intelligence, promotion and business matching opportunities through our exhibitions, conferences, missions and more.”
