Abstract:The Guangdong-Hong Kong-Marco Greater Bay Area of China will be built into a world-class city group. Because of the basic national policy of "one country, two systems", the economic level and carbon emission of the Guangdong-Hong Kong-Marco Greater Bay Area have great differences. Taking the 2005—2014 panel data of Guangdong-Hong Kong-Marco Greater Bay Area, we use the Theil index, to measure the Bay Area-productivity differences and build a Difference-in- Differences model and a fixed effect model to analyze "one country, two systems" affecting the carbon productivity. The results are as follows: 1) since 2005, the carbon productivity in Guangdong region is far below the carbon productivity in Hong Kong and Macao region; 2) the interval carbon productivity difference is small, the regional carbon productivity differences is big, the total difference of carbon productivity in the Guangdong-Hong Kong-Marco Greater Bay Area of Guangdong, Hong Kong and Macao has declined since 2005, but it is still larger; 3)The total difference of carbon productivity in the Guangdong-Hong Kong-Marco Greater Bay Area of Guangdong, Hong Kong and Macao mainly comes from the interval difference, and the interval difference is mainly caused by the differences between Hong Kong and Macao, and the contribution rate of Hong Kong and Macao''s carbon productivity difference to the total difference is increasing year by year; 4) “one country, two systems” has significant positive effect on the carbon productivity. On this basis, we put forward proposals to promote low-carbon development in Guangdong-Hong Kong-Marco Greater Bay Area.