China to build globally competitive modern industrial system for Greater Bay Area

China aims to build a globally competitive modern industrial system for the Guangdong-Hong Kong-Macao Greater Bay Area, says a development plan issued on Monday.

Efforts will be made to expedite the development of the advanced manufacturing industry, nurture and strengthen strategic emerging industries, expedite the development of modern service industries, and vigorously develop the marine economy, according to the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area.

Cars run on the Hong Kong-Zhuhai-Macao Bridge, Oct. 24, 2018. [Photo: Xinhua/Liang Xu]

The plan says measures should be taken to deepen supply-side structural reform, nurture new industries as well as new business types and models, support the transformation and upgrading of traditional industries, and expedite the development of advanced manufacturing and modern service industries.

It also stresses the need to raise industries' development levels to advanced international standards, promote the complementarity, coordination and interconnected development of industries, and nurture a number of world-class industry clusters.

The plan, an important outline document guiding the current and future cooperation and development of the Greater Bay Area, covers the period from now to 2022 in the immediate term and extends to 2035 in the long term.