The Sustainable Development of Rail Transit Construction and Operation in Guangdong-Hong Kong-Macau Great Bay Area, a Preliminary Analysis
MTR Corporation Limited
Executive Summary
The development of Guangdong-Hong Kong-Macau Great Bay Area (hereinafter referred to as “GBA”) is a national strategy crafted, deployed and advocated by General Secretary Xi Jinping. It is a new measure adopted in the new era to push ahead with the opening-up drive in an all-around manner, as well as a new attempt to promote the cause of “one country, two systems”.
As we have learned from international best practices, the construction and integration of rail transit system ought to be a foundational item on the development agenda of the GBA. Synergies are achieved via the sharing of functionalities of the cities within the GBA by shortening the time required to commute among these cities, thereby reducing the effect of any unique factors from individual cities that could have on the development of neighboring cities. The regional functionalities within the metropolitans will become gradually blurred as markets and areas covered by the rail transit system integrate, resulting in economy of scale and synergy via horizontal and vertical integration within the metropolitans of the GBA.
The “project lifecycle management” concept and the sustainability development model of “rail + property/community” advocated by MTR Corporation Limited (or “MTR”) have been proven and well acknowledged by local governments and citizens in Hong Kong, Macau, Beijing, Hangzhou, and Shenzhen as well as overseas in U.K., Sweden and Australia. By leveraging experiences in urban planning and sustainable development of rail transit, MTR looks forward to contributing to the economic development of GBA.
