Qianhai: A Hub for Financial Innovation and Cross-Border Collaboration
This year marks the 15th anniversary of the establishment of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone. As we celebrate this milestone, it's clear that Qianhai has become a focal point for financial innovation and cross-border collaboration between Shenzhen and Hong Kong.
Financial Support for Qianhai
Two years ago, the "30 Measures for Financial Support of Qianhai" were launched, proposing 30 initiatives to deepen financial cooperation and enhance market connectivity. These measures have laid the foundation for Qianhai's development as a major platform for financial innovation.
Enterprises' Demand for Going Global
Shenzhen's private enterprises have become the main force in overseas expansion, with a growing demand for cross-border financial services. However, they face challenges such as lengthy procedures for opening overseas bank accounts and difficulties in cross-border fund allocation.
Qianhai's Unique Advantages
Qianhai has unique locational and policy advantages in piloting cross-border financial services. According to a report by the Southern Finance Media Group, cooperation among Guangdong, Hong Kong, and Macao has reached new heights, thanks to the efforts of major cooperation platforms like Qianhai.
Pilot Initiative for Internal Fund Flow within Headquarters Enterprises
A pilot initiative for internal fund flow within headquarters enterprises between Qianhai and Hong Kong has been proposed. The goal is to explore the limited opening of capital accounts and facilitate the flow of funds between the mainland and Hong Kong. This would benefit both enterprises and banks on both sides.
Hong Kong's Support for Qianhai's Development
Hong Kong's latest fiscal budget includes a section on "Qianhai Development," highlighting the progress made in Shenzhen-Hong Kong cooperation and the support for Qianhai's pilot initiatives. This will promote more policy innovations and breakthroughs, benefiting the entire Greater Bay Area.
Conclusion
Qianhai's 15th anniversary is a testament to its success as a platform for financial innovation and cross-border collaboration. With the support of various initiatives and the unique advantages of the region, Qianhai is poised to play an even bigger role in the future of the Greater Bay Area.
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