BEIJING, Nov. 25 (Xinhua) -- The 3rd Shizimen Finance Week, a 3-day event held in South China's Zhuhai City last week, brainstormed plenty of new ideas to foster financial and industrial cooperation between Macao and Hengqin New Area of Zhuhai in Guangdong Province.
Experts and entrepreneurs present at the opening ceremony, high-end discussion, special report and consulting sessions, and theme forums of the finance week, believed Hengqin New Area boasts unique advantages in developing finance industry under the country's new development pattern of "dual circulation".
They discussed topics on digital economy, digital currency, healthcare, cross-border capital, and Hengqin New Area-Macao insurance to explore approaches to tackling key challenges in the financial sector development in the Hengqin New Area and Macao.
During the finance week, the Digital Alliance Initiative was released. It takes the Guangdong (Hengqin)-Macao in-depth cooperation zone as the platform and the block chain technologies as the basis of establishing digital economic networks to promote distribution of innovative factors including science and technology, capital, information, and talents.
The finance week also witnessed the debut of the 2020 Hengqin New Area-Macao cooperation report under the "dual circulation" development pattern.
Released by China Economic Information Service (CEIS) and independent think tank Mongoose, the report outlined links of four aspects between the Guangdong-Hong Kong-Macao Greater Bay Area and the new development pattern of "dual circulation" to boost cooperation between Hengqin New Area of Guangdong's Zhuhai city and Macao.
A digital currency blue paper for 2020 approached the public during the finance week. The blue paper was rolled out by 01 Think Tank, Chinese Institute of Digital Assets and Hengqin finance research institute.
Since establishment of the Hengqin New Area 11 years ago, the area has built a financial services system integrating its financial services bureau, financial services center, Hengqin Financial Investment Group and Hengqin Finance Association, a high-end financial think tank and a financial education and training institution. All of these pillared up its government service, production, university and research institution-integrated financial industry service framework.
A batch of financial industry bases were also crafted since establishment of the area. Among them, the Hengqin financial industry base was put into operation in 2013. Covering a field area of 191,000 square meters, it has become a cluster of banks, securities brokers and insurers.
Hengqin smart finance industrial park started operation in 2018 and aimed to become an emerging financial technology industry cluster.
In the future, Hengqin New Area will seize strategic opportunities in development driven by both the Guangdong-Hong Kong-Macao Greater Bay Area and Guangdong (Hengqin)-Macao in-depth cooperation zone to showcase high-quality development.
The 3rd Shizimen Finance week was mainly organized by Hengqin New Area administrative committee and supported by Research and Development International (RDI), Hengqin New Area financial services bureau and Hengqin New Area financial services center. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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