Analysis of Informatization on Economic Development of Guangdong-Hong Kong-Macao Greater Bay Area

Abstract

The construction of the Guangdong-Hong Kong-Macao Greater Bay Area is a momentous national development strategy for China. In recent years, the cities in that area have been investigating new paths for connectivity. The “9+2” cities empower each other, and enrich the connotation of the principle of “one country, two systems”. The Greater Bay Area policy also plays an important role in global economic and cross-cultural communication. Informationization will be a key point in promoting and facilitating economic integration throughout the Greater Bay Area. This paper analyzed the impact of informationization on the economic development of the Greater Bay Area by testing two variables which are the number of mobile phone year-end subscribers, and the number of Internet broadband access subscribers. The results showed that the Internet broadband access subscribers significantly contribute to the economic growth, however, the number of cell phone year-end users failed to showed any significant correlation. The result indicates that there is a long-term and stable relationship between the level of Internet development (expressed by the number of Internet broadband access users), and economic development in the Guangdong-Hong Kong-Macao Greater Bay Area, which means informationization can support the economic growth of the region. This paper also provides some policy recommendations based on these four areas, which are, optimizing and upgrading the construction of information infrastructure, strengthening investment in new-generation information infrastructure, promoting the expansion of bandwidth at international Internet entrances and exits, and proposing the development of new businesses in the digital economy.