(Yicai Global) Nov. 30 -- China's Greater  Bay Area involving Hong Kong, Macao and Guangdong, will surpass the  Tokyo Bay in five years to become the top one bay area in the world,  according to an academician of a national engineering institution. 

The Greater Bay Area will become the  world's biggest bay economy in five years, Chen Qingquan, a member of  the Chinese Academy of Engineering, said at the Yicai Tech &  Innovation Conference which was held yesterday in Shenzhen.

The gross  domestic product of the southern Chinese port region will reach CNY14.8  trillion (USD2.1 trillion) by 2022, consultancy iiMedia Research  estimates. With a population of 69.6 million, the GDP of the area  exceeded CNY10 trillion (USD1.4 trillion) last year, making up over 12  percent of the country's total, data from the National Bureau of  Statistics show.  

The lack of talent, originality and  high-quality achievements are the biggest shortcomings of the bay area  for now, Chen said, adding that the region needs a mechanism to  integrate different sectors and business models. China must strengthen cooperation with various parts of the world, he added. 

The bay area should make sure that it  provides a good environment for sharing resources, collaborating on  projects, while avoiding vicious competition in order to give full pay  to the regional strengths, according to Chen. "The  biggest characteristic of Hong Kong is internationalization so it is  the best place to attract high-end talents," Chen said, adding that Hong  Kong and Macau are short of land and industrial firms, while other  cities in the mainland have both.

Editor: Emmi Laine