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Economy

China's 'Greater Bay' threatens Singapore's finance and tech status

Analysts see huge Hong Kong-Macao project siphoning business away from city-state

To stay competitive and become a "smart" city, Singapore has been investing in emerging digital technologies across various industries.   © Reuters

SINGAPORE -- China's ambitious Greater Bay Area project encompassing Hong Kong, Macao and nine cities in Guangdong could threaten Singapore's standing as a hub for finance and technology.

Earlier this month, Chinese authorities unveiled their plans for the vast area, which boasts a population of 71 million and an estimated gross domestic product of $1.64 trillion.

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