KPMG China and the Hong Kong General Chamber of Commerce have launched a flagship report on the Greater Bay Area (GBA), which features business executive insights on the opportunities and challenges, as well as the key success drivers for the initiative.

The report surveyed 614 business executives in the GBA on their views, and also features in-depth perspectives from a number of prominent companies operating in the region, including Tencent, Swire, China Resources and SF Express.

A majority of the survey respondents indicate strong support for the GBA initiative, with enhanced market access, improved corporate synergies and a freer flow of talent highlighted as key advantages. In addition, a majority of business executives highlight that trade and logistics, financial services and R&D in innovative technologies are most likely to benefit from the initiative.

One of the key objectives of the GBA is to improve the level of cooperation within the region. This includes identifying the core competitive advantages of the cities within the GBA and exploring ways for them to complement one another.

The report also finds that the success of the initiative depends on a number of factors, with nearly two-thirds of business executives surveyed indicating that support from local governments is the most important issue.

Read the report for more GBA insights.