Page 70 - 2024 Special Report on the State of Business in South China
P. 70
1) Analysis of the market policy hotspots and deep coordination. In addition, the Opinions
encourage well-developed districts to introduce
Under the guidance of policies regarding the professional service intermediaries covering
development of the GBA into an international accounting, legal, evaluation, pricing, and agency,
innovation and technology hub and the accelerated and proactively create high-quality finance and
cross-border collaboration in various industries technology clustering areas. As innovation and
and fields, the financial cooperation between technology enterprises have diversified financial
Shenzhen and Hong Kong has gradually extended demands in different life cycles, the introduction
to different segments, effectively supporting the of professional service intermediaries will assist
real economy, unleashing market vitality and financial institutions to continuously enhance
serving the overall national development. the core competitiveness of providing financial
services, guide financial resources to be precisely
On 8 October 2023, the Implementation Opinions allocated to them, and effectively support the
on Financial Support for Technological Innovation achievement of “sci-tech self-reliance and self-
(the Opinions) of Shenzhen were promulgated, strengthening at higher levels” in China.
proposing 20 measures to further improve the
system of financial supports for innovation and During the same period, the National
technology. Respective government authorities Development and Reform Commission (NDRC) and
are to execute related policies to increase support the Hong Kong Monetary Authority (HKMA) signed a
for the financing of technology enterprises Memorandum of Understanding (MOU) on supporting
and develop a robust industrial chain across cross-border financing by Chinese enterprises and
the ecosystem of innovation covering basic promoting the development of the Hong Kong bond
research, technological exploration, commercial market during the Third Belt and Road Forum for
application of technological achievements, international cooperation. According to the MOU,
fintech and talent cultivation. the NDRC and the HKMA will establish a regular
communications and information exchange
The Opinions provide strong policy support mechanism for the issuance of offshore bonds
for Shenzhen to fund for enterprises from and loans by Chinese enterprises in the Hong
key areas of innovation and technology (I&T) Kong market. The signing of the MOU will enable
and emerging industries. The measures help Hong Kong to leverage its unique strengths as an
channel financial resources to the field of I&T international financial center to actively participate
with increased efforts, breadth and precision, in the Belt and Road Initiative, and support
and promote the virtuous circle of technology, mainland enterprises’ access to broadened cross-
industries and finance featuring mutual influence border financing channels. In addition, it will
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encourage well-developed districts to introduce
Under the guidance of policies regarding the professional service intermediaries covering
development of the GBA into an international accounting, legal, evaluation, pricing, and agency,
innovation and technology hub and the accelerated and proactively create high-quality finance and
cross-border collaboration in various industries technology clustering areas. As innovation and
and fields, the financial cooperation between technology enterprises have diversified financial
Shenzhen and Hong Kong has gradually extended demands in different life cycles, the introduction
to different segments, effectively supporting the of professional service intermediaries will assist
real economy, unleashing market vitality and financial institutions to continuously enhance
serving the overall national development. the core competitiveness of providing financial
services, guide financial resources to be precisely
On 8 October 2023, the Implementation Opinions allocated to them, and effectively support the
on Financial Support for Technological Innovation achievement of “sci-tech self-reliance and self-
(the Opinions) of Shenzhen were promulgated, strengthening at higher levels” in China.
proposing 20 measures to further improve the
system of financial supports for innovation and During the same period, the National
technology. Respective government authorities Development and Reform Commission (NDRC) and
are to execute related policies to increase support the Hong Kong Monetary Authority (HKMA) signed a
for the financing of technology enterprises Memorandum of Understanding (MOU) on supporting
and develop a robust industrial chain across cross-border financing by Chinese enterprises and
the ecosystem of innovation covering basic promoting the development of the Hong Kong bond
research, technological exploration, commercial market during the Third Belt and Road Forum for
application of technological achievements, international cooperation. According to the MOU,
fintech and talent cultivation. the NDRC and the HKMA will establish a regular
communications and information exchange
The Opinions provide strong policy support mechanism for the issuance of offshore bonds
for Shenzhen to fund for enterprises from and loans by Chinese enterprises in the Hong
key areas of innovation and technology (I&T) Kong market. The signing of the MOU will enable
and emerging industries. The measures help Hong Kong to leverage its unique strengths as an
channel financial resources to the field of I&T international financial center to actively participate
with increased efforts, breadth and precision, in the Belt and Road Initiative, and support
and promote the virtuous circle of technology, mainland enterprises’ access to broadened cross-
industries and finance featuring mutual influence border financing channels. In addition, it will
70
