Measurement and Spatio-Temporal Evolution Analysis of the Business Environment in the Guangdong–Hong Kong–Macao Greater Bay Area

Fang Zhao () and Qiang Wei
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Fang Zhao: College of Finance and Statistics, Hunan University, Changsha 410079, China
Qiang Wei: School of Business, Nankai University, Tianjin 300071, China

Sustainability, 2025, vol. 17, issue 16, 1-37

Abstract: Cultivating the best business environment ecosystem is important for advancing market-oriented reforms and achieving sustainable industrial transformation. How to quantify the business environment is also a relatively complex topic. Based on urban ecology theory, this study constructs a comprehensive evaluation framework for assessing urban business environment development. Using the entropy weight method and spatial autocorrelation analysis, we examine the time series and spatial evolution of the business environment in the Guangdong–Hong Kong–Macao Greater Bay Area from 2008 to 2021. Meanwhile, we further explore the main factors that influence the development level of the business environment. Finally, some suggestions are put forward to improve the business environment. The results show that (1) the development level of the business environment has gradually improved during the sample period, with stable growth from 2008 to 2015, followed by rapid development after 2015; (2) from different dimensions, there is an imbalance in the business environment development among cities within the Greater Bay Area, with core cities performing better than others; (3) from a spatial perspective, the business environment presents a “core-periphery” pattern, with higher levels clustered around the Pearl River Estuary, indicating strong spatial agglomeration. This research provides theoretical support and policy recommendations for the Three-Year Action Plan for Creating a World-Class Business Environment in the Greater Bay Area.

Keywords: business environment; measurement system; spatial and temporal patterns; Guangdong–Hong Kong–Macao Greater Bay Area (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2025
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