A significant node in the Greater Bay Area, Zhuhai has unparalleled advantages in cooperation between Guangdong and Hong Kong, and especially in connections with Macao, says one of China's top economists.

Lian Ping, president of the China Chief Economist Forum (CCEF), made the comment June 28 in a keynote speech at the Forum on Financial Support for Guangdong-Hong Kong-Macao Greater Bay Area Development at Zhuhai International Convention & Exhibition Center in Shizimen.

According to Lian, cross-border investment and financing is to experience leapfrog development along with deepening connectivity of financial markets and infrastructure. 

Lian Ping speaks at Shizimen forum 

More than 200 representatives from Zhuhai, Hong Kong, and Macao financial institutions and regulatory authorities attended the forum to explore new ideas on innovative financial development of the Greater Bay Area.

Li Xunlei, vice president of the CCEF, predicted ever-more financial cooperation between Zhuhai and Macao. He also noted, for example, that Huafa Group had issued its first public offering bond in Macao and that and multiple businesses of Huafa Investment Holdings should be promoted as typical cases of cross-border financial services.

An integration of industry and finance was seen as the best direction for developing characterized financial services in the Greater Bay Area. Cross-border and sci-tech finance and financial leasing face new opportunities, and the financial sector should seize preferential policies offered to propel both its development and that of the Greater Bay Area, said Li.

Yuan Xuedong, deputy secretary-general of the Zhuhai Municipal People's Government, also spoke at the forum. Two roundtable dialogues discussed innovation, cooperation and exploration concerning cross-border finance.

The forum was organized by the Zhuhai Financial Work Bureau and Huafa Investment Holdings. It was held to season implementation of the report: Opinions on Financial Support for Guangdong-Hong Kong-Macao Greater Bay Area Construction. The document was released May 14 by the People's Bank of China (PBC), China Banking & Insurance Regulatory Commission, China Securities Regulatory Commission, and State Administration of Foreign Exchange.

The opinions proposed 30 specific measures to further promote financial opening-up, innovation, and deepened cooperation between the mainland and Hong Kong and Macao. They also seek to enhance the Greater Bay Area role in supporting and leading China's economic development and opening-up, and financially help build the region into a dynamic and internationally competitive world-class city cluster, according to the PBC.

Roundtable dialogue [Photos courtesy WeChat account: cnhuafag]