First, the comparative advantage of Pan-Pearl River Delta regional cooperation
(1) Geographically, the eastern, central and western regions have obvious characteristics. Hong Kong is the financial, logistics and information center in the Asia-Pacific region. Macao has convenient links with the European Union and Portuguese-speaking countries. Guangdong is adjacent to Hong Kong and Macao. If the "Greater Pearl River Delta" is the inner and core circle, then the second circle is Fujian, Jiangxi, Hunan, Guangxi, Hainan and other coastal areas and provinces adjacent to the "Greater Pearl River Delta", and the third circle is the "nine plus two" other provinces. The leading core area is the Pearl River Delta Economic Circle of Guangdong, Hong Kong and Macao. With the further implementation of CEPA and the acceleration of the economic integration of Guangdong, Hong Kong and Macao, the Greater Pearl River Delta urban agglomeration will extend from the current urban golden circle to Zhanjiang and Shantou along the east and west coastlines, develop into a metropolis belt in South China, and become an undisputed pan-Pearl River Delta economic center. No matter now or in the future, the economic center has great attraction, radiation and growth for the surrounding areas. Hainan and Guangdong originally belonged to the same province, with similar geographical location, popularity and connections, and similar living habits. At present, more than 400,000 people are developing in Guangdong. Up to now, the largest foreign investment in Hainan comes from Hong Kong.
(2) From the perspective of resource endowment, a region's comparative advantage, the choice of industry and the way of technological progress will all be related to the resource endowment conditions of the region. There are obvious differences in resource endowment conditions between provinces and special administrative regions in the Pan-Pearl River Delta Economic Zone, which has laid a good foundation for economic and financial cooperation. Guizhou, Guangxi and Fujian are rich in water resources. For example, the ten-level gradient development of Wujiang River in Guizhou is equivalent to three Gezhouba dams. Guizhou, Yunnan, Guangxi, Hunan and Sichuan have many kinds of minerals and large reserves. For example, Jiangxi 12 mineral reserves rank first in the country. Guangdong, Fujian, Hunan, Yunnan, Hainan, Guizhou and other places are rich in tourism resources, and tourism has created a lot of financial revenue. For example, Guangdong's tourism foreign exchange income has been ranked first in the mainland for 3 1 provinces, autonomous regions and municipalities for many years. Hong Kong and Macao's free port system, international trade network, abundant capital and modern service industry are the unique advantages of Pan-Pearl River Delta regional cooperation. Labor is also one of the highly complementary resources in this region. With the rapid rise of Guangdong's economy and its geographical advantages adjacent to Hong Kong and Macao, the Pan-Pearl River Delta people circle with Guangdong as the core has gradually formed. For example, the air in Hainan, especially the air along the coast, is rich in negative ions and is a natural oxygen bar. There are also abundant marine oil and gas resources. China's largest gas field is in Hainan, with an annual output of 6 billion cubic meters, and 2.9 billion cubic meters is supplied to Hong Kong for power generation, accounting for more than 30% of Hong Kong's power generation. Hainan is also the largest chemical fertilizer base in China, mainly supplying high-quality chemical fertilizers to coastal areas such as Guangdong and Fujian. The largest methanol project in China is under construction. In addition, Hainan can become an important petroleum and petrochemical base in South China. Guangdong is short of oil, and Hainan has resources and ports, so it has a good location advantage. It can become an energy supply base in South China. Pan-Pearl River Delta Economic Zone must fully explore and make use of the differences and comparative advantages of resource endowment conditions in this region, find opportunities for cooperation and achieve common development.
(3) From the perspective of economic development, in the Pan-Pearl River Delta Economic Zone, the level of economic development presents gradient differences, which lays a good foundation for regional economic cooperation. First of all, the per capita GDP level is an important indicator to judge the level of economic development. According to the per capita GDP of China in 20041091,the economic development level of "9+2" provinces can be divided into three levels. The first level is Hong Kong and Macao, with per capita GDP of 23,276 and 17539 respectively, which is 2 1 times and 16 times of the national per capita GDP. The second level is Guangdong and Fujian, whose per capita GDP is higher than the national level, which is $2,043 and $65,438 +0.843 respectively, but there is still a big gap compared with Hong Kong and Macao. The third level is the provinces whose per capita GDP is lower than the national average. The GDP created by Guangdong, Hong Kong and Macao is equivalent to 23.3% of the national GDP, which is higher than that of Fujian, Jiangxi, Guangxi, Qiong, Hunan, Shu, Yunnan and Guizhou (2 1.7%). From a nationwide horizontal comparison, on the one hand, Hainan still belongs to an economically underdeveloped area, with a relatively weak economic foundation, a low level of industrialization, urbanization and income of urban and rural residents, and is still in the primary stage of industrialization as a whole. On the other hand, the basic conditions for Hainan to enter a new round of large-scale development period have been met, the infrastructure is becoming more and more perfect, the ecological environment is unique, tropical agricultural resources, tourism resources, mineral resources, marine resources and land resources in development zones are abundant, and the relative advantages and late-comer advantages are more obvious. It can be seen that Hong Kong and Macao are the leaders in the economic development of the Pan-Pearl River Delta Economic Zone and will provide a broad economic and trade platform for mainland industries through their developed service industries. Guangdong is a bridge for economic cooperation between nine provinces and regions in the Mainland and Hong Kong and Macao, and plays an important role in industrial upgrading and industrial transfer in the Mainland. Fujian, Guangxi and Jiangxi provinces also have their own advantages in resources and talents, which can undertake industries and investments transferred by Guangdong, Hong Kong and Macao and provide a broad economic hinterland for Guangdong, Hong Kong and Macao.
(D) From the perspective of financial development, the "Pan-Pearl River Delta" regional cooperation is conducive to accelerating the further radiation of funds from Guangdong, Hong Kong and Macao, especially the financial industry in Hong Kong will gain greater market space and more opportunities. At present, the difference between deposits and loans in Hong Kong's banking system is as high as HK$ 65,438+0.565,438+0 trillion, and it has sufficient capacity and experience to provide a wide range of services for enterprise financing in different economic systems. Hainan's financial industry has also shown a good development momentum in recent years. The total financial volume has increased steadily. By the end of June 2005, the total local and foreign currency deposits in the province were1190.5 billion yuan, up by 10.3% year-on-year. The balance of various loans was 85.663 billion yuan, a year-on-year increase of 6.85%. The financial order is stable, the quality of financial assets is obviously improved, financial innovation is active, the construction of financial security zones has begun to take shape, and local financial resources are being integrated, creating favorable conditions for the implementation of "Pan-Pearl River Delta" regional financial cooperation. However, the eight provinces around the central and western regions have relative advantages in natural resources, labor force and land, so they need a strong driving force to fully integrate the two resources, make use of resource advantages to attract investment, make up for the lack of development funds, and promote economic development and social progress. It can be said that the "Pan-Pearl River Delta" regional cooperation coincides with the right time, and the financial advantages of Guangdong, Hong Kong and Macao can be better brought into play.
Second, a perspective of the obstacles to regional cooperation in the Pan-Pearl River Delta
At present, the factors that hinder the integration of resources in the Pan-Pearl River Delta region can be summarized into four aspects: administrative division obstacles, infrastructure obstacles, industrial isomorphism obstacles and institutional obstacles.
(1) administrative division obstacles. The obstacle of administrative division is the basic reason of domestic market division, and it is difficult to establish a unified product and factor market, and the market mechanism fails to give full play to its role in regional resource allocation, and it is difficult to form an industrial division of labor with complementary advantages in the region. Mainly manifested in the following two aspects: on the one hand, there are contradictions between the administrative system and cross-regional economic and financial cooperation. A very important feature of China's economy is that governments at all levels organize economic activities according to administrative regions. The economic resources in the administrative area are controlled by government intervention, which has a strong local government behavior color. When there is interest friction between regions, local governments at all levels often rely on administrative regions to build various barriers, which hinder the free flow of economic factors and resources. On the other hand, there is a contradiction between the vertical management of financial institutions and cross-regional financial cooperation. At present, the management and risk control modes of financial institutions in China are all set according to administrative divisions. Under normal circumstances, locally absorbed funds can only be borrowed locally, and branches cannot flexibly adjust the surplus and deficiency of funds, making it difficult to optimize the allocation of funds. The index system established under the vertical management mode cannot reflect the degree of economic ties among provinces in the region, and the fragmentation of financial cooperation will inevitably hinder the further promotion of economic cooperation. Therefore, it is the key to the success of regional economic integration in the Pan-Pearl River Delta to break the boundaries of administrative divisions and make the market mechanism a leading factor in regional economic development.
(2) Infrastructure obstacles. All localities should increase infrastructure construction and make communication barrier-free in communication and transportation, which is the most fundamental condition for regional cooperation. At present, the economic and financial cooperation in the Pan-Pearl River Delta is greatly hindered by the uneven level of infrastructure construction, the lack of reasonable coordination mechanism and the mismatch of infrastructure, especially transportation facilities. At present, we urgently need to build a comprehensive transportation network that meets the requirements of regional cooperation and development as soon as possible, improve logistics efficiency, create a good business environment for people flow logistics and enhance regional competitiveness.
(3) Obstacles to industrial isomorphism. On the one hand, due to the great difference in profit rates between industries, every place is unwilling to give up high-efficiency industries, and the phenomenon of industrial isomorphism will exist. On the other hand, the local government's pursuit of development achievements will lead to investment impulse and expansion intention, and will also lead to repeated construction and industrial isomorphism, which will seriously affect the efficiency of resource allocation, and ultimately it is difficult to form a reasonable regional division of labor. At present, how to strengthen industrial dislocation development and factor interaction, improve industrial system, extend industrial chain and enhance industrial radiation is a difficult problem to be solved urgently in Pan-Pearl River Delta regional economic cooperation.
(4) institutional obstacles. Smith's "general prosperity produced by division of labor" is the purpose of regional economic integration. The development process of regional economic integration in China has just begun, which will touch on the deeper contradictions and problems in China's economic system. For example, the employment discrimination against the labor force caused by the hukou and household registration system and the difference between urban and rural areas has affected the formation of a unified labor market. Various laws and policies formed to safeguard local interests will hinder the free flow of capital and commodities, and these institutional obstacles will eventually undermine the role of market mechanisms in resource allocation. From the micro level, it has seriously affected the efficiency of resource allocation of enterprises and financial institutions; From a macro perspective, investment expansion and unreasonable structure are important reasons for economic fluctuations. Therefore, the key to the effective integration of regional economy in China is institutional innovation.