Since the implementation of the "Outline of the Development Plan for the Guangdong Hong Kong Macao Greater Bay Area", major cities such as Guangzhou and Shenzhen have taken multiple measures to promote business environment and financial construction, and strengthen high-quality opening-up to the outside world. At the recently held Tsinghua Wudaokou Greater Bay Area (Shenzhen) Financial Forum, multiple experts and scholars focused on the theme of "innovation, openness and cooperation - high-quality development", and conducted discussions on financial assistance for the development of the Greater Bay Area. Many attendees believe that under the mission of "building high-quality development demonstration areas", the demand for high-quality financial services in the Greater Bay Area is more urgent. Zhang Wei, vice president of the National Institute of Finance of Tsinghua University and executive editor in chief of Tsinghua Financial Review, said that Financial innovation is a powerful engine for optimizing resource allocation, financial openness is the only way to build a financial power, and financial cooperation is an important way to smooth the blood of the economy. Zhou Chengjun, Director of the Financial Research Institute of the People's Bank of China, stated that in the process of globalization, more Chinese enterprises will expand globally, carry out industrial transfer and value upgrading, and form a large number of world-class and multinational enterprises in China. In the process of industrial transfer, Chinese multinational enterprises will occupy an increasingly important position in the global industrial and supply chains. Chinese enterprises should be incentivized to use the Chinese yuan more in their global layout, helping them manage risks, reduce costs, and optimize resource allocation. In addition, further improving the financial ecology of the Greater Bay Area requires consolidating cross-border financial cooperation among Guangdong, Hong Kong, and Macao, and promoting high-level openness through cross-border finance. Li Xiao, Honorary President of Guangzhou Business School, believes that in terms of financial assistance for industrial and economic development, the Greater Bay Area will undergo three major transformations - shifting from the offshore market as the center to innovative construction and development in the onshore market; From the development of traditional manufacturing supported by traditional finance to the development of modern intelligent manufacturing driven by the development of modern finance; Shift from being a leader in foreign trade and industrial development to focusing on the reform, innovation, and opening up of the rule of law and market rules system. Xiao Geng, Director of the Policy and Practice Research Institute of Shenzhen Institute of Advanced Research, stated that China is the world's largest spot market for commodities, but the cross-border use of the RMB in the field of commodities and the pricing power in the international market still need to be improved. To address this international financial pain point, it is necessary to utilize digital financial technology and trading platforms, as well as the offshore financial markets of Hong Kong and Hong Kong dollars. The pegging of the Hong Kong dollar to the US dollar has helped promote China's opening-up and the rise of manufacturing in the past, but in the future, we should allow more new financial products to be promoted through official digital financial trading platforms linked to the renminbi, "said Xiao Geng. (New News Agency)
Edit：Hou Wenzhe Responsible editor：WeiZe
Source：people.cn
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