International Bio-Technology Island (formerly known as Dove Island) located in Huangpu district, Guangzhou is a biotech industrial zone in the region. Besides prioritizing innovation and high-tech industries, the GBA seeks to draw in foreign investors. For that purpose, The Opinions Concerning Financial Support for the Establishment of the Guangdong-Hong Kong-Macao Greater Bay Area envisaged gradual financial liberalization. Additionally, In May 2020, the People's Bank of China has introduced new measures aimed at liberalizing China's controls on foreign exchange and foreign currency remittance. Outline Development Plan The core idea behind the development of the Greater Bay Area (GBA) is laid out in ‘Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area’ released by the Chinese central government in February 2019. The ambitious goal foresees a linkage of the nine cities in Guangdong province's Pearl River Delta, Hong Kong and Macau into an economically integrated world-class business hub. The document stipulates crucial milestones for the GBA. If achieved, they are expected to transform the GBA into an international first-class bay area in 2022 and evolve the region into an international first-class bay area by 2035. The progress will be achieved through deepening reform, prioritising innovation, accelerating connectivity, and improving the environmental footprint in the region. The Outline Development Plan foresees the implementation of several infrastructural projects. For instance, developing a world-class airport cluster in the region and building inter-city high-speed rail links and motorways to improve connectivity both within the GBA and beyond. The planned construction of two bridges across the Pearl River Delta will significantly reduce travelling times within the region and simultaneously promote a free flow of people, goods, capital, and information in the region. Given rising concerns about the environmental impact of rapid urbanisation and infrastructure development, the Outline Development Plan includes ecological conservation as well as green and low-carbon development models. The end goal stipulated by the document is to transform the GBA into a services-oriented economy. To realise this end goal, the four designated “core cities'' will be developed according to their respective comparative advantages. First, Hong Kong. It is planned to strengthen its position as an international hub for financial and logistical services. Second, Macau. The former Portuguese colony is envisioned to develop into a centre for international tourism, leisure and cultural exchange, as well as a trading hub with Portuguese-speaking countries. Third, Guangzhou. The city is planned as a commerce, transportation and education hub.