Greater Bay Area Business Activity Hits Four-Year High on Tariff Truce

China’s Greater Bay Area business activity reached a four-year high in Q3 2025, supported by a temporary US-China tariff truce and stronger financial market momentum, according to the GBA Business Confidence Index by Standard Chartered Bank and the Hong Kong Trade Development Council. The headline index climbed to 54.7 from 53.1 in Q2, while the expectations index hit 55.7 — its highest in two years — signalling robust optimism. New orders and prices of finished goods rose sharply, with Hong Kong showing notable improvement driven by revived IPOs and a stock-market rally. The survey of more than 1,000 firms also found businesses enhancing product quality and brand strength to remain competitive.