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Qianhai 'plays key role in HK financial stability'

2016-September-22       Source: Szdaily.com

Qianhai should carry out much bolder innovations to support its financial development and help maintain Hong Kong's financial stability, an expert told the Qianhai Financial Forum yesterday.

Qianhai should carry out much bolder innovations to support its financial development and help maintain Hong Kong's financial stability, an expert told the Qianhai Financial Forum yesterday.

Chen Guanghan, director of Hong Kong, Macao, Pearl River Delta Research Center of Sun Yat-sen University, made the remarks at the forum, which was attended by local economists, entrepreneurs, officials and other professionals. They learned about Qianhai's latest financial policies and discussed possible ways to implement them.

"Qianhai now has a lot to offer to Hong Kong enterprises because it is not just a modern service industry cooperation zone, it is also part of the Qianhai-Shekou Pilot Free Trade Zone," Chen said.

"To realize the constructive cooperation of both sides, Qianhai needs to not only build a good business environment but more importantly provide ‘national treatment' to Hong Kong professionals. For instance, they should have the same social security and health insurance as mainlanders, they should be able to find Hong Kong service providers in Qianhai and their children should receive Hong Kong-standard education here."

Chen warned that it is dangerous to make Hong Kong and mainland cities identical, because Hong Kong is a bridge for the Chinese mainland to communicate with the world. "Actually, Hong Kong helps the mainland to build financial trust globally. The number of international headquarters in Hong Kong is still increasing, which proves that the world is confident in the Chinese economy," he added.

"We expect to build a pilot area of Hong Kong-Shenzhen cooperation in Qianhai," said Lei Chi-wing, director of Cushman & Wakefield. "Working with Hong Kong to explore institutional and other intangible cooperation is more important for Qianhai than the construction of facilities."

According to Huang Yanjing, director of Financial Innovation Department of Qianhai Authority, Qianhai welcomes Hong Kong experts and companies to discuss financial innovation.

She said Qianhai has over 45,000 financial enterprises and the added value of those companies reached 21.85 billion yuan (US$3.27 billion) in the first six months this year. Qianhai has practiced many innovative measures, including cross-border RMB and foreign loans, cross-border investments, RMB and foreign capital pools, RMB bond issuance, finance lease and Qualified Domestic Investment Enterprise.

Editor: Chan

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