Contents

• Introduction
• SWOT Analysis of the plans
• Greater Pearl River Delta Initiative
• ‘One Belt One Road Initiative’
• Reflections
• Current and Future growth of Transport Industry in China
• Recommendations
• References

Description

Recently the ‘One Belt One Road’ initiative or ‘The 21st Century Silk Road initiative’ has become popular in the entire world. This project was about more than just connecting China to the world physically. The objective of this project is to develop economic cooperation that involves the coordination of policy, trade and financing, as well as social and cultural cooperation. This plan sound to be beneficial for every stakeholder associated with the project.
The plan got authorized by the State Council in 2015 with two projects namely the Silk Road Economic Belt and 21st century Maritime Silk Road. The former project involved three routes that are China to Europe through Central Asia, the Persian Gulf, the Mediterranean via West Asia, and the Indian Ocean through South Asia. This huge project aimed to connect regional waterways. It managed to attract 60 countries which pledged to contribute $21 trillion in ‘OBOR’ action plan (Jinchen, 2016).
There is another ongoing project in Hong Kong known as ‘Greater Pearl River Delta Initiative’ that involved connection between Guangdong, Hong Kong, and Macau Greater Bay Area. It mainly targeted the mainland of China. The plan was first proposed in the 13th Five year plan of China (2016-2020). This Bay Area Initiative aims at highlighting the role of the region and its ambition in global economic supply chain inclusive of Special Administrative regions of Hong Kong and Macau. The whole project included nine Chinese cities making use of the skills and expertise in each city.
There were numerous organizations that wanted to associate with this plan in order to take advantage of Hong Kong’s economic superiority and establish global connections around the world to harness a progressive and sustainable growth (cwhkcpa).