Study on the Present Situation, Problems and Countermeasures of Dual Circulation Development in the Guangdong-Hong Kong-Macao Greater Bay Area

Abstract

Starting from the external circulation and internal circulation, this paper discusses the current situation, problems and countermeasures of each element of dual circulation. Although the Guangdong-Hong Kong-Macao Greater Bay Area has advantages in many aspects, there are still some problems, such as the relative unification of import and export direction, the relative concentration of product types, the imperfect supply chain, etc. In view of these problems, the paper puts forward the economic and legal measures to solve and improve, for the smooth operation of the dual circulation, security and stability to provide the basic security.

The Impact of RCEP on Dual Circulation and Greater Bay Area — From the Perspective of China’s Stock Market Conditions

“…Facing the impact of the Covid-19 epidemic, sluggish global market demand, and more instable and uncertain situation of the world, President Xi Jinping, in July 2020, proposed the concept of a "dual circulation" development pattern in which domestic economic cycle plays a leading role while international economic cycle remains its extension and supplement. At present, development and analysis of recycling economy in China and abroad are hot topics of great concern to the academic circles, decision-makers (Guo, 2021;Yu and Zhou 2021;Wu and Chen 2022;Yifu and Wang, 2021;Guo and Gao 2022;Wan et at., 2022). With 15 Asia-Pacific countries signed the Regional Comprehensive Economic Partnership (RCEP) on Nov 15, 20220, RCEP, the world's biggest trade pact, will also help China deepen regional economic and trade cooperation and promote dual cycle development.…”