China’s Economic Outlook: A Focus on Guangdong-Hong Kong-Macao Greater Bay Area’s Entry-Exit Traffic and Economic Growth
By Sun Lei, Hong Kong Economic Herald, Guangzhou
As the global economic landscape continues to evolve, China’s economic outlook is revealing new characteristics and trends. The Guangdong-Hong Kong-Macao Greater Bay Area, in particular, is emerging as a crucial hub for domestic and international movements and commercial activities. Recent data from the Guangzhou Border Inspection Station for the first quarter of 2024 sheds light on several key aspects of this trend, offering a unique perspective on the state of China’s economy.
Significant Increase in Entry-Exit Traffic
In the first quarter of 2024, major ports such as Guangzhou Baiyun International Airport, Nansha, Shunde, and Pazhou Passenger Port experienced a notable increase in entry and exit activities. Compared to the same period last year, the inspection of entry-exit persons and transportation vehicles increased by 217% and 67%, respectively. This growth not only reflects an increase in people’s mobility but also the vibrancy of cross-border commercial activities.
Positive Impact of Visa Exemption Policies
China’s continuous expansion of its visa exemption “circle of friends” has attracted an increasing number of foreign nationals. In the first quarter, more than 120,000 travelers enjoyed visa exemption policies at ports including Baiyun Airport, Pazhou, and Nansha Passenger Ports. Of these, 52% visited China for tourism, while 18% engaged in business and trade activities. The visa exemption policies have not only boosted the tourism industry but also facilitated business activities, further stimulating economic growth.
Measures to Improve Customs Efficiency
To cope with peak passenger flows, the Guangzhou Border Inspection Station has implemented several measures to improve customs efficiency. These include strengthening police force deployment, enhancing inspection facilities, increasing technological investments, and innovating inspection models. Particularly before the 135th Canton Fair, the station efficiently prevented port congestion and ensured stable and efficient port operations through dynamic channel opening and optimized traffic diversion.
Contribution to Economic Growth
Lin Liangmin, Deputy Director of the Border Inspection Office at the Guangzhou Entry-Exit Border Inspection Station, emphasized that the first quarter’s entry-exit data highlights the increasingly prominent position of the Guangdong-Hong Kong-Macao Greater Bay Area as a maritime traffic hub. By scientifically analyzing and anticipating the patterns of passenger flow and transportation operations, the station will continue to deepen convenient services for the public and businesses, transforming “traffic flow” into “economic growth” and injecting new energy into high-quality economic development.