BEIJING, Feb. 26 (Xinhua) – Financial service sector is expected to be an important engine to pillar up the new round of economic development in the Guangdong-Hong Kong-Macao Greater Bay Area, reported the Xinhua-run Shanghai Securities News citing experts Tuesday.
As the newspaper said, experts present on the first CUFE Greater Bay Area economic innovation & development forum held in Shenzhen Saturday generally agreed with the opinion on basis of their interpretation of a newly-released development plan for the area.
Earlier on February 18, China issued the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area to guide the area’s development till 2022 in the mid term and till 2035 in the long term. The plan highlights constructing science and technology innovation center, speeding infrastructure connectivity, forming modern industries system, participating in the Belt and Road construction, and co-building cooperation and development platforms for the area.
Liu Yang, chairperson of Atlantis Investment Management holds that as innovation and science and technology are highlighted in the plan, a more developed Guangdong-Hong Kong-Macao Greater Bay Area is expectable and in next decade, asset management will be a promising industry alongside the wealth accumulation in the area.
He Qiang, director of the Securities and Futures Research Institute under Central University of Finance and Economics (CUFE) reckoned that in spite of its late start compared with other bay areas worldwide, the Guangdong-Hong Kong-Macao Greater Bay Area boasts advantages in land area, population and city framework given its four core developed cities including Shenzhen.
To enhance development, He outlined ten aspects such as commodity circulation, logistics, capital, information, talents, policies, services, tourism, medical care and education and among them, investment and capital shall be pressed ahead with at the beginning.
In this regard, He suggested Greater Bay bond issuance via the securities bourses in the area, setting up Greater Bay Area board on the Shenzhen Stock Exchange, further opening up of capital market to foreign investors, and attracting foreign equity investment in securities intermediaries in the area. Enditem (Edited by Duan Jing, duanjing@xinhua.org)
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