Page 96 - 2024 Special Report on the State of Business in South China
P. 96
active response of the HKSAR Government to the has been achieved in fintech and cross-boundary
national strategy of high-quality development of finance including wealth management and
the GBA, and HKSAR has taken a positive stance investment and financing. What follows will be
in accelerating the creation of a new pattern of the integration of financial infrastructures, with
financial cooperation in the GBA. continuous improvements of the relevant legal
and regulatory frameworks. It is expected that
With various initiatives for the GBA being financial innovations and high technological
unveiled and implemented, cities such as advancements will be converged in applications,
Guangzhou Nansha and Zhuhai Hengqin have thereby promoting further connectivity in the
activated new momentum for the development of region, raising the efficiency of resource allocation
the GBA by leveraging their location advantages and supporting the high-quality development of
within the GBA and facilitating the integration the GBA economy.
of industries and financing, empowered by
fintech innovation. Relying on platforms such  
as the Demonstration Zone for Comprehensive
Cooperation between Guangdong, Hong
Kong, and Macau in Nansha and Guangdong-
Macao In-Depth Cooperation Zone in Hengqin,
connectivity of financial markets in the GBA
will be continuously deepened, bringing about
a large amount of market opportunities and
dynamics to the financial sector. As connectivity
of financial markets and deep integration with
global financial markets take shape, market
players should ride on the wave of financial
development in the GBA to seize opportunities
and develop strategies, thus realizing innovations
and breakthroughs.

The integration of the GBA requires
the latest insights from global experience.
Shenzhen should make reference to worldwide
practices and cases for further enhancement
of information security of cross-border capital
flow, institutional establishments such as tax
infrastructure, the application contexts for
e-currencies, the connectivity amongst the
financial markets of Guangdong, Hong Kong and
Macau, the combination of financial innovation
and technological advancements, and finally the
regulatory collaboration for the prevention of
financial risks between Shenzhen and Hong Kong.

The Financial and Currency Connect initiatives
draw out the complementary effects of Shenzhen
and Hong Kong’s respective strengths to provide
both economies with mutual benefits. The two
governments have steadily implemented the
relevant policies with joint efforts, leading to
positive interactions and integration of capital,
enterprises and talent. Currently, connectivity

96
   91   92   93   94   95   96   97   98   99   100   101