According to the new media report of Viewpoint Real Estate, the Opinions put forward 26 specific measures from five aspects: promoting the facilitation of cross-border trade and investment and financing in Guangdong-Hong Kong-Macao Greater Bay Area, expanding the opening up of the financial industry, promoting the interconnection of financial markets and financial infrastructure, improving the innovation level of financial services in Guangdong-Hong Kong-Macao Greater Bay Area, and effectively preventing cross-border financial risks.
The promulgation of the Opinions is conducive to further promoting financial openness and innovation, deepening financial cooperation between the Mainland and Hong Kong and Macao, enhancing Guangdong-Hong Kong-Macao Greater Bay Area's supporting and leading role in national economic development and opening up, and providing strong financial support for building a first-class Bay Area and a world-class urban agglomeration with vitality and international competitiveness.
Among them, insist on serving the real economy. Focusing on the financial needs of achieving high-quality economic development and facilitating trade and investment, we will comprehensively promote cross-border investment and financing innovation, optimize the allocation of financial resources, improve the efficiency of financial intermediation, improve the quality and effectiveness of financial services, and steadily promote the internationalization of RMB, so as to provide strong financial support for building a first-class Bay Area and a world-class urban agglomeration with vitality and international competitiveness.
Adhere to win-win cooperation. Innovate the path and mode of financial cooperation between the Mainland and Hong Kong and Macao, promote the opening of financial services to Hong Kong and Macao at a higher level, support the deep integration of Hong Kong and Macao into the pattern of national financial reform and opening up, give play to the unique advantages of Hong Kong's financial system under "one country, two systems", support the consolidation and development of its position as an international financial center, and strengthen Guangdong-Hong Kong-Macao Greater Bay Area's financial complementarity and mutual assistance.
Adhere to market orientation. Give full play to the decisive role of the market in the allocation of financial resources. Deepen the reform of financial markets, promote the interconnection of Shenzhen and Hong Kong financial markets, improve the convenience of capital financing in Guangdong-Hong Kong-Macao Greater Bay Area, and let the market determine the flow of funds and flow in diversified financial intermediary channels.
Insist on preventing systemic financial risks. Establish and improve the coordination mechanism of regional financial supervision, improve the risk prevention and control system of cross-border capital flow that is compatible with financial opening and innovation, and steadily and orderly promote all kinds of financial opening and innovation in Guangdong-Hong Kong-Macao Greater Bay Area under the premise of legal compliance and controllable risks.
Moreover, the Opinions propose to explore the implementation of a higher level of trade and investment facilitation pilot, improve the foreign exchange management of new trade formats, promote the reform of capital account facilitation, explore the establishment of an account management system suitable for Guangdong-Hong Kong-Macao Greater Bay Area's development, explore the establishment of a cross-border financial management mechanism, carry out a pilot of cross-border cash pool business integrating local and foreign currencies, support banks to carry out cross-border loan business, steadily expand the pilot of cross-border asset transfer business, support the establishment of RMB overseas investment and loan funds, promote the facilitation of cross-border trade and investment and financing in Guangdong-Hong Kong-Macao Greater Bay Area, and enhance the exchange and cross-border circulation of local and foreign currencies.
It will also expand the opening up of the financial industry and deepen financial cooperation between the mainland and Hong Kong and Macao. The Opinions pointed out that the opening of banking, securities and insurance will be expanded.
In addition, the Opinions also put forward specific measures in promoting the diversification of financing channels in Guangdong, Hong Kong and Macao, promoting the interconnection of financial markets and financial infrastructure, and further enhancing the innovation level of financial services in Guangdong-Hong Kong-Macao Greater Bay Area.