Pay attention to the linkage between Guangdong, Hong Kong and Macao and Hainan free trade port? It's beautiful to think about it

The 2021 Guangdong Hong Kong Macao Great Bay area innovation economy summit forum was held recently. Participants said that in the past year, policies such as "cross-border financial link" and "southbound link" of bonds in Guangdong Hong Kong Macao Great Bay area were implemented, Shenzhen's initial RMB 5 billion bonds in Hong Kong were popular, and Shenzhen and Hong Kong signed four cooperation agreements in September, A series of breakthroughs have demonstrated that the connectivity and high-quality development of Guangdong, Hong Kong and Macao have entered a higher level.

Xu Zhengyu, Secretary for financial services and the Treasury of the Hong Kong Special Administrative Region, said that "cross border wealth link" is the first interconnection mechanism specially designed for individual investors, which is conducive to promoting the facilitation of individual cross-border investment by residents in Guangdong, Hong Kong and Macao; "Nantong" will implement the interconnection mechanism arrangement between mainland investors and infrastructure institutions in the two places to invest in the Hong Kong bond market. The relevant measures will further strengthen Hong Kong's unique function of contacting mainland funds and communicating with the international market, as well as its position as a global offshore RMB business hub and international asset management center, and help promote the process of RMB internationalization.

It can be seen that these policies make the development of Guangdong, Hong Kong and Macao Greater Bay area to a higher level. With the gradual improvement of the policy system of Guangdong Hong Kong Macao Bay area, Guangdong Hong Kong Macao Bay area continues to explore new mechanisms and new paths for regional coordinated development, and continues to move forward to a new highland of system innovation and reform and opening up. Wu Shicun, founding president of the South China Sea Research Institute and vice president of the Research Institute of free trade ports with Chinese characteristics, said that the Great Bay area of Guangdong, Hong Kong and Macao and Hainan free trade port can carry out linkage development.

In Wu Shicun's view, first of all, the Great Bay area of Guangdong, Hong Kong and Macao and Hainan free trade port have great potential to complement each other's advantages and learn from each other's experience. Guangdong, Hong Kong and Macao Dawan district has accumulated rich practical experience in the construction of business environment, talent policy design and industrial policy innovation, which are the basis for the integrated innovation of the construction system of Hainan free trade port. Similarly, some unique policy and system innovation achievements of Hainan can also be first disseminated, tried out and popularized in the Great Bay area of Guangdong, Hong Kong and Macao. Secondly, in terms of industrial structure, Hainan free trade port optimizes and upgrades around tourism, modern service industry, high-tech industry, characteristic and efficient tropical agriculture and manufacturing industry, and has a "little competition and most complementarity" relationship with the modern industrial system dominated by strategic emerging industries and modern financial services in Guangdong, Hong Kong and Macao Dawan district. Finally, the gathering advantage of key production factors such as talents, scientific research and capital in Guangdong, Hong Kong and Macao Dawan district is just the "short board" faced by Hainan free trade port at the present stage, which leaves space for the two places to create the amplification effect of "1 + 1 > 2" of resources and factors through interconnection.

How exactly? At present, the coordinated development of Guangdong Hong Kong Macao Bay area and Hainan free trade port is still restricted by objective factors such as geographical distance and economic development level gap. In this regard, Wu Shicun said that we should open up the bottleneck of Qiongzhou Strait channel, shorten the geospatial distance between "district" and "port", and promote the efficient, free and convenient flow of elements between the two places. The current comprehensive traffic cost of Hainan free trade port and Guangdong Hong Kong Macao Bay area is much higher than that of other parts of the country due to the constraints of the "natural graben" of Qiongzhou Strait and the relative lag of railway transportation network construction. Therefore, it is necessary to promote the industrial port interconnection and port economic linkage of Haikou, Zhanjiang and Beihai, cultivate a new economic growth pole from Hainan to western Guangdong to Eastern Guangxi, and build Hainan into an important intersection of "double circulation", so as to provide a driving point for the linkage and innovative development of "district" and "port". Hainan can give play to its advantage of facing the forefront of Southeast Asia and play the role of "hub" for interconnection in the fields of capital, trade, investment and infrastructure in the Great Bay area of Guangdong, Hong Kong and Macao and other regions in China. At the same time, modern marine economy is one of the main contents of building a modern industrial system in the Great Bay area of Guangdong, Hong Kong and Macao. Hainan can also actively participate in the exchanges and cooperation in marine industry, port economy and other fields in the Pan South China Sea, so as to promote the convenient flow of goods, capital, technology and talents in the region.

Source: China trade news reporter Zhou Dongyang

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