Financial Cooperation between Guangdong, Hong Kong and Macau
Abstract
The economic cooperation between Guangdong Province and Hong Kong can be traced back to the 1980s, when Mainland China began to implement the reform and opening up policy. From the perspective of the Mainland, the principal driving force for the cooperation was rooted in the need to transfer an abundance of surplus labor and to solve the problem of the extreme shortage of savings and capital during the early stages of industrialization. From the Hong Kong side, the key reason for the cooperation was to make use of the surplus labor and cheap land resources from the Mainland to achieve strategic industrial transfers and upgrading. At present, as the Mainland is advancing with financial reform and internationalization, the financial integration and cooperation between Guangdong, Hong Kong and Macau will become a new focal point for cooperation between these three regions, and will also be the key to China’s financial development and opening up.
The economic cooperation between Guangdong Province and Hong Kong can be traced back to the 1980s, when Mainland China began to implement the reform and opening up policy. From the perspective of the Mainland, the principal driving force for the cooperation was rooted in the need to transfer an abundance of surplus labor and to solve the problem of the extreme shortage of savings and capital during the early stages of industrialization. From the Hong Kong side, the key reason for the cooperation was to make use of the surplus labor and cheap land resources from the Mainland to achieve strategic industrial transfers and upgrading. At present, as the Mainland is advancing with financial reform and internationalization, the financial integration and cooperation between Guangdong, Hong Kong and Macau will become a new focal point for cooperation between these three regions, and will also be the key to China’s financial development and opening up.
Contents
I. THE CLOSER ECONOMIC PARTNERSHIP ARRANGEMENT STIPULATES THE PRIMARY COMPONENTS OF THE FINANCIAL COOPERATIONII. PROBLEMS EXISTING IN THE FINANCIAL COOPERATION
III. STRATEGIES TO PROMOTE THE GUANGDONG-HONG KONG-MACAU FINANCIAL COOPERATION Skip to top