The Greater Bay Area has been one of the best economically developed regions of China with the country's largest exporters and tech firms. The concept of the Greater Bay Area was first mentioned in the English version of the 13th Five-Year Plan for Economic and Social Development of the People's Republic of China as part of the country's key strategic planning. On July 1st of 2017, the governments of Guangdong, Hong Kong, and Macao signed the Framework Agreement on Deepening Guangdong-Hong Kong-Macao Cooperation in the Development of the Greater Bay Area in Hong Kong in order to deepen and strengthen the cooperation across the region. In February 2019, the three parties further agreed on an Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area, which continues the initiative.
Shenzhen, as one of the most active Chinese cities, has gained great development in the last decades, turning from a fishing village next to Hong Kong to home of many international tech giants, including Tencent, ZTE and Huawei. The special administrative region Hong Kong is known for its important role as international financial, trade, and transportation hub, and its professional service sector. Despite its small land space, Macao is one of the world's most attractive places for entertainment, benefiting over 40 billion U.S. dollars annually from international tourism.
Being an essential transportation hub, Guangzhou, the capital city of Guangdong province, owns the most railway connections of the Greater Bay Area. Dongguan has been a center for manufacturing. Enjoying its advantage of owning numerous workers and technicians, this city is eager to develop its service sector in the future. Since the completion of the Hong Kong-Zhuhai-Macao Bridge in October of 2018, the cities in the Greater Bay Area haven been connected closer due to more efficient transportation, which contributes to the further development of the region.