China's Greater Bay Area plan is both an opportunity and competition for Singapore

SHANGHAI - China's grand plan to turn Hong Kong, Macau and nine other nearby cities into a global innovation hub will mean more opportunities for foreign talent and businesses, said observers while warning that the Greater Bay Area (GBA) could also present competition to cities like Singapore.

A day after Beijing fleshed out an ambitious plan to link a cluster of southern cities while drawing the autonomous regions of Hong Kong and Macau closer to mainland China, foreign entrepreneurs operating in the area hailed it as a boon for business.