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Global Reseach on Financial Hubs ② | Guangzhou, Shenzhen, and Hong Kong jointly build up a regional financial center

2018-May-9       Source: Newsgd.com

“Guangzhou and Shenzhen can join Hong Kong to construct an excellent regional financial center, (each) drawing on their own strengths,” says Nic Nicandrou, CEO of the Asia HQ of Prudential UK and Chair of CITIC Prudential Life Insurance.

(Source: Nanfang Plus)

Guangzhou, Shenzhen and Hong Kong should play different roles in a coordinated development

As for Hong Kong, Qiao Lei, the CFO of Bank of China (New York) says that it can further strengthen its own overall competitiveness as a global financial center with the help of the Greater Bay Area, and helps the Area become an international financial hub.

Regarding Shenzhen, Qiao thinks that Shenzhen should, with its growing competitiveness and power of attraction, as well as the help of the Belt and Road Initiative, have closer cooperation with Hong Kong in internationalizing the RMB.

“Shenzhen should also use the Qianhai and Shekou pilot free trade zones to promote innovation and international cooperation in finance,” adds Liu Guohong, director of the finance and modern industry research center at Shenzhen-based think tank China Development Institute.

Concerning Guangzhou, Professor Zhang Xiaojun of the Haas School of Business, University of California, Berkeley says that Guangzhou should above all strengthen its industrial advantages, and develop industrial finance.

(Source: Nanfang Plus)

“Guangzhou also needs venture capital and funds to be a financial center or the financial hub of the Greater Bay Area,”says Professor Zhang.

Guangzhou now enjoys rich state capital, thriving foreign trade and incomparable regional advantages and is further promoting this resource cluster initiative.

Editor: Monica Liu

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