China News Service, Guangzhou, December 6 (Reporter Minjie Cai) The construction of an international financial hub in the Guangdong-Hong Kong-Macao Greater Bay Area is not only a strong support for the world-class Bay Area, but also an inevitable demand for the development of the world economy and finance.
The 18th Global Annual Meeting (F20 Summit) of the International Finance Forum is being held in Guangzhou. The guests pointed out that the three places can achieve mutual complementarity and win-win through the development of misalignment in the joint construction of an international financial hub in the Guangdong-Hong Kong-Macao Greater Bay Area.
At the institutional level, Zhu Xian, the former vice president of the World Bank, believes that the Guangdong-Hong Kong-Macao Greater Bay Area must take an international path. The three places will inevitably experience a process of joint learning and discussion, and consideration should be given to taking the initiative within the Greater Bay Area. In particular, it is necessary to allow institutional opening up to take the lead; at the financial level, the Greater Bay Area wants to become an international financial hub, and it should take greater steps to accelerate the internationalization of the renminbi.
In addition, the Greater Bay Area involves two independent customs territories. Zhu Xian believes that it is necessary to have an overall top-level design that takes into account the actual interests of each region and each place, and at the same time give play to the comparative advantages of each city to avoid excessive competition. .
The former Secretary of Finance of the Hong Kong Special Administrative Region Liang Jinsong bluntly stated that from the perspective of the new global situation, technological advancement, the new globalization pattern and the increase in currency issuance will all bring challenges to the construction of an international financial hub in the Guangdong-Hong Kong-Macao Greater Bay Area.
However, crisis and opportunity coexist. Overcoming the crisis is the opportunity.
Liang Jinsong believes that Hong Kong has human resources in the development of life sciences, while Shenzhen and Guangzhou are developing rapidly in the field of science and technology. The two sides can form a cohesive effect and there is a lot of room for development.
The former Secretary of Economics and Finance of the Macao Special Administrative Region Government Liang Weite believes that with the continuous construction of an international financial hub in the Guangdong-Hong Kong-Macao Greater Bay Area, the Greater Bay Area will surely help the Greater Bay Area become a high ground for industrial innovation. And positioning, give full play to its own strengths, serve the needs of the region, and achieve complementary and win-win results through dislocation development."
Ding Shuang, chief economist for Greater China and North Asia of Standard Chartered Bank, pointed out that the Guangdong-Hong Kong-Macao Greater Bay Area can become a national and regional science and innovation center, and it has a lot to do in green finance.
Liu Ligang, managing director of Citigroup and chief China economist, believes that the Guangdong-Hong Kong-Macao Greater Bay Area has great potential for development.
He believes that the next step for the economic development of the Greater Bay Area is to overcome the flow barriers that hinder the "four flows" (the free flow of population and labor, the free flow of logistics, the free flow of capital and the free flow of information). "This requires Institutional innovation, if the negative impact of integration can be minimized, it can further increase labor productivity in the Greater Bay Area," said Liu Ligang.
Qi Ye, dean of the Hong Kong University of Science and Technology Public Policy Research Institute, believes that the construction of a green financial center is an urgent need for the Guangdong-Hong Kong-Macao Greater Bay Area in the construction of a financial hub. The Greater Bay Area should be able to play a leading role in these aspects. .
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