Introduction

Global regional economic integration is the global background for the proposed Guangdong-Hong Kong-Macao Greater Bay Area economy. The concept of regional economic integration may be defined in the following terms: In order to safeguard common economic and political interests, two or more countries or regions adjacent to each other, through inter-governmental treaties or agreements, formulate common policies and measures to implement and make them uniform - so as to transfer partial sovereignty of some countries to others for the establishment of common institutions - to exercise supranational powers and forces on a long-term and stable basis, to carry out economic adjustment and to effect and form economic and even political alliances.