Potential application of the EU passport regime in China’s Guangdong-Hong Kong-Macao Greater Bay Area

China proposed the initiative of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) in February 2019, ¹ in which the development of its financial industry is key. Since Hong Kong and Macao are Special Administrative Regions of China, there are massive cross-border financial activities in the GBA, which creates a unique financial market there. However, the differences within the GBA may become its advantages, and its financial industry could be better developed generally. Therefore, some scholars and officials have proposed that the EU single passport regime could be worth learning for the GBA. ²