BEIJING, Jan. 15 (Xinhua) – The Guangdong-Hong Kong-Macao Greater Bay Area financial development index will be officially unveiled in June 2019 to provide reference for financial development in the area, revealed Li Yang, chairman of National Institution for Finance & Development (NIFD), a leading Chinese think-tank.
Li made the above remarks at the 2019 Guangzhou-Hong Kong-Macao Financial Cooperation Promotion Conference held in Hong Kong on Monday.
The move, led by NIFD, aims at establishing a stable, continuous and verifiable index system through six indicators covering financial deepening, financial integration, financial environment, inclusiveness, financial openness and financial innovation, in a bid to promote the construction of the Greater Bay Area with finance as an important engine, according to Li.
He also noted that system and institutional innovation should be made to foster efficient and convenient flow of people, logistics, capital and information and optimize allocation of resources in the area, in order to improve its economic vitality and competitiveness.
Currently, financial cooperation between Guangdong, Hong Kong and Macao has yielded fruitful results in fields such as financial institution cooperation, cross-border RMB business, capital market cooperation and cross-border financial services, said He Xiaojun, head of the financial regulator at Guangdong Province, at the conference.
To be specific, as of the end of November 2018, over 180 Hong Kong or Macao-funded financial institutions had settled in Guangdong, RMB had become the second largest cross-border payment currency in Guangdong, Hong Kong and Macao, and 232 enterprises in Guangdong had been listed in Hong Kong, etc.. (Edited by Gu Shanshan)
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