Economic complexity of the city cluster in Guangdong-Hong Kong-Macao Greater Bay Area, China

Abstract

With the rapid economic growth in China over the last two decades, exploring the changes in the Chinese economy has attracted great attention from the research community. Among different economic clusters in China, the southern region represents the wealthiest region. Hence, it is essential to conduct an in-depth analysis to explore the region's sustainability in its economy. This paper applies the economic complexity model to 22 major cities within the Guangdong-Hong Kong-Macao Greater Bay Area cluster. The study is based on seven industrial sectors. Revealed comparative advantage of different product sectors, similarities of product sector specialisation, diversity of the economic composition, and the association to the geographical location are investigated in this paper.