The special administrative region's ambitious goals for its northern area and Shenzhen's plan to expand its Qianhai cooperation zone, offer much scope for development.
As Australia faces no major defence perils from the Pacific nations, the new grouping’s move is aimed at Chinese presence in the Asia Pacific.
In 2021 alone, 19 start-ups in the region saw an increase in valuation to above US$1 billion, according to a report on Asean start-ups by Credit Suisse.
In the same index for cities, Singapore ranked seventh, down from third last year but still the only Asian city in the top ten.
President Xi Jinping announced last month that the nation will not build new coal-fired power projects abroad.
Nearly one million workers have fled big cities and provinces due to Covid-19
Macau’s top gaming stocks lost a record $18.4 billion in combined market value on Sep 15 after officials said they would change casino regulations.
Singapore has tumbled from its top spot as the world's most competitive economy to fifth place, but remains Asia's top performing economy.
The new tax could see governments recouping billions in tax dollars to help them pay off debts incurred during the Covid-19 crisis and even out inequities in society.