[营销星球]瑞银-粤港澳大湾区房地产的未来-2019.2.19-23页(5)

www.ubs.com/investmentresearchThisreporthasbeenpreparedbyUBSSecuritiesAsiaLimited.ANALYSTCERTIFICATIONANDREQUIREDDISCLOSURESBEGINONPAGE19.UBSdoesandseekstodobusinesswithcompaniescoveredinitsresearchreports.Asaresult,investorsshouldbeawarethatthefirmmayhaveaconflictofinterestthatcouldaffecttheobjectivityofthisreport.Investorsshouldconsiderthisreportasonlyasinglefactorinmakingtheirinvestmentdecision.??GlobalResearch19February2019HongKongandChinaPropertyThefutureoftheGreaterBayAreaGBA=Software+hardwareintegrationWebelievetheaimoftheGreaterBayArea(GBA)developmentistoenhanceintegrationamongcitiesintermsofpeople,capital,logisticflowthroughbetterhardware(infrastructure)andsoftware(eg,socialwelfare,taxation,mutualrecognitionofqualifications).Weexpectthistolowertransactioncostandhenceincreasetheregionscompetitiveness—