-- The 6th Guangdong-Hong Kong-Macao Greater Bay Area Financial Development Forum was held in the Qianhai Cooperation Zone in Shenzhen
■Yang Rachel ■China Economic Times reporter Jiang Yeqing
On June 29, 2024, the 6th Guangdong-Hong Kong-Macao Greater Bay Area Financial Development Forum was grandly held at the Qianhai International Convention Center in Shenzhen. Yu Bin, member of the National Committee of the Chinese People's Political Consultative Conference and deputy director of the Development Research Center of the State Council, Xiao Gang, member of the National Committee of the Chinese People's Political Consultative Conference and former chairman of the China Securities Regulatory Commission, Zhang Junkuo, deputy director of the Proposal Committee of the National Committee of the Chinese People's Political Consultative Conference and chairman of the China Development Research Foundation, Li Dongrong, former deputy governor of the People's Bank of China, Huang Hong, former vice chairman of the China Banking and Insurance Regulatory Commission, Song Hai, former vice governor of the Guangdong Provincial People's Government, Chan Mo-po, financial secretary of the Hong Kong SAR Government, Jiang Bo, director of the International Cooperation Department of the State Financial Supervision Administration, Zhang Liping, Director of the Institute of Finance of the Development Research Center of the State Council, attended the forum and delivered a speech. The leaders in charge of the Guangdong Province and Shenzhen Municipal Government delivered speeches respectively.
Yu Bin delivered a keynote speech entitled "Accelerating the Construction of an International Financial Hub in the Greater Bay Area to Help Build a Financial Power", and pointed out that the construction of a financial power requires the transformation of the financial industry from large to strong. At present, it is especially necessary to pay close attention to the risks of the real estate market, local government bonds, and small and medium-sized banks, so as to prevent the economic and financial risks accumulated in the stage of rapid growth in an orderly manner, and maintain the bottom line of no systemic risks; There is a need to properly manage the relationship between strengthening financial regulation and promoting innovation, and to strike a balance between financial regulation and the promotion of innovation. He believes that the Guangdong-Hong Kong-Macao Greater Bay Area is the region with the highest degree of openness and the strongest economic vitality in the mainland, and the financial industry is also the leading industry in the Greater Bay Area with international competitive advantages. To help build a financial power on the new journey, the Greater Bay Area should anchor the new positioning of "one point and two places", do a solid job in the five major articles of science and technology finance, green finance, inclusive finance, pension finance and digital finance, accelerate the construction of an international financial hub, and continue to promote the high-quality financial development of the Greater Bay Area. It is necessary to provide diversified scientific and technological financial services according to science and technology enterprises at different stages of development, and build a full life cycle accurate financial service system. It is necessary to explore the establishment of unified green finance standards in the Greater Bay Area, improve the certification mechanism for green projects, and strengthen financial support for green industries and major technological innovations oriented to carbon neutrality. It is necessary to build a high-quality inclusive financial system, continuously improve the coverage, availability and satisfaction of financial services, and help achieve common prosperity. It is necessary to accelerate the development of industrial digital finance, build and improve the digital credit system, and promote the deep integration of the digital economy and finance. It is necessary to improve the pension financial service system, and strive to provide diversified age-appropriate pension financial products and services to improve people's well-being.
At the forum, speakers from Guangdong, Hong Kong and Macao discussed and exchanged views on the theme of the conference in multiple dimensions and in an all-round way. Guangdong has become the first province in the country with the added value of the financial industry exceeding one trillion yuan, the scale of the financial market is leading in the country, and the modern financial system is speeding up the improvement. Hong Kong has actively carried out cooperation between credit bureaus in Hong Kong and Shenzhen, successfully piloted the cross-border "Credit Connect" business, and officially launched the "Cross-boundary Wealth Management Connect 2.0", maintaining its position as the world's largest offshore RMB centre, handling more than 70% of the world's cross-border RMB payment business, and contributing to the internationalization of RMB. In line with the development of the Greater Bay Area as an international financial hub, Macao has given full play to its advantages in a highly open financial system and connecting with Portuguese-speaking countries, carried out cross-border financial innovation and cooperation, cultivated the bond market, wealth management, financial leasing and other businesses, and orderly built the "Real Time Payment and Settlement System", "Faster Payment System" and "Financial Infrastructure Data Center" in the three legal tender currencies of the Greater Bay Area, adding growth momentum to the financial industry.
The Guangdong-Hong Kong-Macao Greater Bay Area Financial Development Forum has been successfully held for six sessions so far, and has become an important platform for financial openness, development, exchange and cooperation in the Greater Bay Area. With the theme of "Practical Exploration of Building a Financial Power and an International Financial Hub in the Greater Bay Area", this year's forum implements the spirit of General Secretary Xi Jinping and the Central Government's series of major decisions and deployments on building a financial power, and joins hands with Hong Kong and Macao to accelerate the construction of an international financial hub in the Guangdong-Hong Kong-Macao Greater Bay Area, so as to embark on a successful road to the Greater Bay Area for the realization of Chinese-style modernization.
The forum was hosted by the Office of the Financial Commission of the Guangdong Provincial Committee of the Communist Party of China, undertaken by the Guangdong Federation of Financial Think Tanks, and co-organized by Zhaolian Consumer Finance Co., Ltd. and Shenzhen Qianhai WeBank Co., Ltd. Nearly 30 important guests from the central ministries and commissions, government departments of Guangdong, Hong Kong and Macao, and the financial industry delivered wonderful speeches.
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Editor-in-Chief丨Mao Jinghui Editor丨Chen Shuhan