In the next decade, business opportunities in the Greater Bay Area will attract more financial services institutions.
Editor’s note: This article from the micro-channel public number “Prisma” (ID: lengjing_qqfinance), author Kang Lu.
In March 2015, Adam Trivison, who was responsible for on-site research in the hospitality and financial services industry at GAMCO Asset Management, walked from Hong Kong airport as usual and went straight to the terminal. Ferry’s first stop to visit Macau – Trevison, who just flew 16 hours from New York, is not prepared to waste a minute in the rare field trip. In 1976, GAMCO, founded by Mario Gabelli, the Warren’s younger brother, continued the practice of visiting dozens of companies every year to find “values”. By the second quarter of 2018, GAMCO managed a total of $40 billion in funds, including its Gabelli Fund, which has invested in a number of industries in Hong Kong and Macau over the past 30 years.
“When I looked out on the ferry, I suddenly saw the magical scene.” Trevison recalled when he began to pay attention to the Hong Kong-Zhuhai-Macao Bridge project, “I saw about a mile in a place that was originally thought to be a sea surface.” The construction of the bridge, the project was far from complete.” Often used to work around the worldThe research of Trivison still remembers the “shock” at the time. “I have never seen such a project, no matter its size or craftsmanship, it is amazing.”
In the subsequent study tour, Trivison, who does not speak Chinese, has repeatedly talked with local companies and investors, and through the help of friends and local people, trying to understand how this “sea channel” can What to bring to the area you are examining, and the investment opportunities that may exist behind it. For more than three years, Trevison has tracked the progress of the bridge when he has the opportunity to go to China.
At the time when the Hong Kong-Zhuhai-Macao Bridge was officially opened to traffic, Trevison, who gradually cleared the prospects during several visits, said that the economic benefits brought by the opening of the bridge to the Pearl River Delta, Hong Kong, China and Macau will not be Simply sum up with “1+1=2”, “you will see exponential growth”, and the industries that benefit include hotels, tourism, logistics, etc.
The Hong Kong-Zhuhai-Macao Bridge in the sunset
“90-minute law”
Terryson believes that the “90-minute law” commonly used in US urban research is the basis for understanding the economic benefits of the Hong Kong-Zhuhai-Macao Bridge, that is, analysts calculate the scenic spot by calculating the population that can be reached in 90 minutes around the scenic spot. The amount of passengers that can attract.
Research shows that once a passenger arrives in a particular area for more than 90 minutes, the amount of travel will drop dramatically. If the bridge can shorten the original 2-3 hours travel time to less than 90 minutes, it will be able to directly increase the travel frequency.
The Hong Kong-Zhuhai-Macao Bridge is connected to the economic zone through six lanes, including nine cities in the Pearl River Delta and Hong Kong, China and Macau. The data shows that the total population in the region is close to 70 million people, and the regional GDP has reached 1.4 trillion US dollars, surpassing the San Francisco Bay Area.
The Golden Gate Bridge and the Bay Bridge, completed in the 1930s, have laid the foundation for logistics and personnel mobility for the economic take-off in the San Francisco Bay Area. The two bridges connect San Francisco to the North Bay and Auckland, which are separated by a water. The bridge-based integrated transportation facilities not only facilitate the flow of people and materials in coastal cities, but also bring exchanges of funds and ideas. It has nurtured the Silicon Valley of Science and Technology Innovation Center, and it also complements the financial and academic centers of the US West, and ultimately translates into actual economic benefits.
Trivison, who once lived in two coastal areas of the United States and New York, believes that similar regional synergies will also occur in the Greater Bay Area of Guangdong, Hong Kong and Macau. As a follower of the value investment philosophy, starting with the founder Mario,