On the first day of the "cross-border financial link" landing, banks opened canals to divert water and two-way "drainage". Residents in Guangdong, Hong Kong, Macao and Dawan district gave a warm response. Foreign banks received inquiries from thousands of customers in one day, which shows the strong market demand. On the whole day of October 19, the mainland consignment bank handled 180 "northbound" investment funds remittances for Hong Kong and Macao investors, with an amount of 15.387 million yuan. The mainland cooperative bank, in conjunction with the Hong Kong and Macao sales bank, remitted 128 "southbound" investment funds for mainland investors in Dawan District, with an amount of 17.733 million yuan. So far, the cross-border financial link is natural. The pilot of "cross border financial link" in Dawan District of Guangdong, Hong Kong and Macao planned for more than two years is an exploration based on "one district, two systems and three currencies" in Dawan district. In the face of many obstacles such as system, supervision and culture, "cross border financial link" respects the existing framework through special account management, fund closed-loop and quota control, and adds a source of living water to the financial market, which has become another important innovative measure in China's financial opening to the outside world. The successful implementation of the pilot has important strategic significance for the opening of financial markets, the internationalization of RMB and the construction of Guangdong, Hong Kong and Macao Bay area. The detailed rules for the implementation of the pilot business are determined to follow the principle of "management of the place where the business link occurs", follow the relevant laws and regulations of the mainland, Hong Kong and Macao respectively, and be supervised by the financial management department of the place where the business link occurs. It should be said that this approach will provide reference for the subsequent wider interconnection. "Cross border financial link" carries out closed management on cross-border capital flows. As another exploration and practice of cross-border use of RMB under capital account, it has realized the innovation of personal investment business. Although there are still some restrictions on individuals making cross-border investment through "cross-border financial link", the role of "cross-border financial link" in promoting capital account opening should not be underestimated. The pilot of "cross border financial link" has completed its start under the principles of stability, order and controllable risk. At present, there are corresponding restrictions on mainland investors, participating banks and financial products. In the future, with the maturity of the pilot, it is worth looking forward to expanding the scope of investment products, participating institutions and investors and the amount of investment. It can be seen that the governments and regulatory authorities of the three places are working together to promote investor protection, support market players to make full use of the policy dividends of financial reform, and take practical actions to promote the interconnection of financial markets in Guangdong, Hong Kong and Macao. Guangdong Hong Kong Macao Great Bay area is one of the regions with the highest degree of openness and the strongest economic vitality in China. "A dynamic world-class urban agglomeration and a demonstration area for in-depth cooperation between the mainland and Hong Kong and Macao" is the strategic positioning of Guangdong Hong Kong Macao Bay area. The development of Dawan district is bound to realize the liberalization of the flow of production factors, the efficient allocation of resources and the facilitation of financial services. The successful pilot of "cross border financial link" is not only a beneficial attempt to facilitate cross-border financial services in the region, but also an important measure to support the development of Dawan district. (outlook new era)