A three-year action plan was released on Monday by China's economic planner to foster world-leading business environment in the Guangdong-Hong Kong-Macao Greater Bay Area.

Sources with the National Development and Reform Commission said the move is to deepen cooperation within the area and enhance market integration and international competitiveness in the Greater Bay Area.

After a hard work of three years, the Greater Bay Area is expected to be at the forefront of the world in terms of its competitiveness in business environment, according to the plan.

Relevant policies and mechanism should be basically established in line with internationally recognized rules, which can fully unleash market vitality and social creativity and allow the area to better attract and mobilize resources worldwide, said the plan.