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Global Reseach on Financial Hubs①|Guangdong should explore its unique financial ecosystem: foreign experts

2018-May-8       Source: Newsgd.com

This March, journalists from Nanfang Daily, one Guangdong’s leading media publications, were sent to the US, UK, Germany, Singapore and other international financial hubs and had conversations with experts there, attempting to explore experiences that the province can learn from.

(Source: Nanfang Plus)

Bring in innovation funds to guide industrial development

Prof. Zhang Xiaojun of Haas School of Business, University of California, Berkeley suggested that Guangdong could develop a unique financial ecosystem with its advantages in the manufacturing industry and its location in the Greater Bay Area, rather than simply being a copycat of Silicon Valley.

“Guangdong is dominant in traditional industries, logistics and marketing. It’s a wrong thinking that the traditional industries are out of time. Combining the traditional industries with modern developing methods would accelerate the process of the province’s development,” Prof. Zhang said.

Additionally, Prof. Zhang indicated that Guangdong could trial some preferential policies regarding innovation funds to guide the province’s industrial development.

 

Increase number of agencies to invigorate the market

Wang Baolian, the Assistant professor of finance from the Gabelli School of Business in Fordham University, also proffered his solutions.

“Stock exchanges, NEEQ and regional equity exchange are all of great importance to innovation and the development of high technology,” Wang advised that stock exchanges should quicken their paces on innovation and grading, while efficient regional equity exchanges should be developed, which can tremendously help companies increase financing channels and speed up VC’s quit.

At present, small companies dominate China’s regional equity exchanges. However, due to weak disclosure of companies’ information, the size of exchanges and market development are greatly influenced. Wang proposed that the province can turn on green lights to more agencies to activate the market.

“For instance, we can introduce more market makers to perform trade marching. Gradually they will become market experts, who can both get hold of information and more evenhandedly consider the interests of buyers and sellers.”

Editor: Nan

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