Seven economic cooperation projects worth 12.1 billion yuan (about $1.7 billion) between the Guangdong-Hong Kong-Macao Greater Bay Area and ASEAN countries were signed on July 30 in the southern Chinese metropolis of Shenzhen.

The signing was completed during the 2023 ASEAN-China Greater Bay Area Economic Cooperation (Qianhai) Forum that ran from July 29 to 30, which covered industrial park construction, digital economy and agricultural cooperation.

The Greater Bay Area-ASEAN International Chamber of Commerce Alliance and the China-ASEAN Think Tank Partnership were established at the forum. The forum also resulted in an initiative concerning a closer Greater Bay Area-ASEAN economic partnership.

The initiative proposes enhanced economic cooperation and strengthened people-to-people connections. Concrete measures include supporting the China-ASEAN Center to set up a representative office in Shenzhen, exploring the establishment of a Greater Bay Area-ASEAN Industrial Development Investment Fund, holding the "Greater Bay Area-ASEAN Youth Innovation and Entrepreneurship Competition," and establishing a network for cooperation among universities, think tanks, and research institutions from both sides.

More than 150 foreign guests, including representatives from the governments of all 10 ASEAN countries, diplomatic agencies in China, chambers of commerce, think tanks and enterprises, attended the forum.