With the Hong Kong – Zhuhai – Macao Bridge (HZMB) due to open later this year, it’s important to be aware of the benefits for Zhuhai of the incredible engineering structure which is set to become the world’s largest overseas bridge. It is clear to see there will be huge transportation and economic benefits of this bridge but how exactly will the benefits be felt within the manufacturing industry in Zhuhai?
Transportation
The aim of the bridge is to connect Hong Kong (HK) with strategic highways in Zhuhai to the Pearl River Delta (PRD). This will cut travelling time and distance from Zhuhai to the Kwai Chung Container Port and from Zhuhai to Hong Kong International Airport by more than 60% and 80% respectively.
Economic
The HZMB will likely become the heart of economic development between the three locations allowing them to all reap the benefits from each other. The commute from HK to Zhuhai will be within 3 hours which is sure to lead to a flooding of investment from HK into Zhuhai and the surrounding PRD. The bridge will also lead to fast economic integration of the surrounding areas thus increasing competitiveness in the region. Zhuhai is becoming the dream location for an investor today. An added benefit to this is the investment which has gone into Zhuhai’s property market surrounding the bridge as many commuters will look to travel from Zhuhai to get to work in Hong Kong, thus releasing the strain on Hong Kong’s densely populated island.
Implications for manufacturing in the Pearl River Delta
With increased connectivity due to lower travel times and shorter distances via new road routes, this will lead to transportation costs plummeting. The implications will include lower costs for manufactures as there are alternative routes to transport manufactured goods which benefit from lower fuel costs and no shipping costs. Further to this, the increase in connectivity will enhance trading opportunities between the regions. There will therefore be larger market access for anyone looking to invest within the PRD area.
If you are still on the fence as to whether outsourcing to China is a good idea or not, make your decision today and grasp the opportunity of the new HZMB whilst it’s still undergoing construction.