From market access to regulatory cooperation in the Greater Bay Area (GBA): an international economic law perspective

One unique challenge that the Greater Bay Area (GBA) development presents to policymakers is how heterogeneous regulatory frameworks in three different legal jurisdictions within a single sovereign state can be coordinated to facilitate cross-border transactions while respecting the region's diverse legal traditions. This article argues that, as trade liberalization in goods and services has largely been achieved in the GBA, market access is no longer the primary challenge to its development. Moving forward, regulatory cooperation is a critical factor for the success of the GBA. Deep regulatory cooperation will significantly enhance the business environment, attract domestic and international investors, and strengthen the GBA's global competitiveness. Moreover, the GBA can draw inspiration from best practices in high-standard regional trade agreements to advance regulatory cooperation.