21专访｜北大汇丰金融研究院李荻：以高质量并购推动产业升级

Core Insights - The core argument emphasizes the need for a profound "professionalization" transformation in China's financial industry to achieve high-quality development, as highlighted by the "14th Five-Year Plan" [2][3] Group 1: Professionalization in Financial Institutions - The "14th Five-Year Plan" suggests that financial institutions should focus on their core businesses, improve governance, and pursue differentiated development, marking a shift from a previously diversified growth model to a more specialized approach [3][4] - Financial institutions are encouraged to recognize their resource endowments and comparative advantages, allocating resources to key development areas to enhance efficiency and competitiveness [3][4] Group 2: Mergers and Acquisitions (M&A) as a Growth Strategy - M&A is seen as a crucial method for optimizing resource allocation, particularly in the context of Shenzhen's goal to reach a total market value of 20 trillion yuan by 2027, requiring nearly 8 trillion yuan growth in three years [8][9] - High-quality M&A can reduce transaction costs, enhance market bargaining power, and improve innovation capabilities, thereby driving industry upgrades [9][10] Group 3: Regulatory and Supportive Measures for M&A - The government is urged to create a conducive environment for M&A in strategic emerging industries by relaxing profitability requirements and simplifying approval processes [5][7] - Establishing a robust M&A service ecosystem with top-tier investment banks and professional service providers is essential for facilitating successful transactions [6][7] Group 4: Shenzhen's Financial Development Strategy - Shenzhen aims to leverage its strong manufacturing base and technological advantages to develop an industrial financial center, focusing on supply chain finance and financing leasing [10][11] - The city is positioned as a hub for cross-border financial services, enhancing its role in international trade and investment [10][11]