Core Viewpoint - The financial market connectivity in the Guangdong-Hong Kong-Macao Greater Bay Area is continuously deepening, driven by reforms and opening up, enhancing international competitiveness and collaboration among financial institutions [1][2][3]. Financial Market Connectivity - As of September 2025, the cumulative transaction amount of the "Shenzhen-Hong Kong Stock Connect" is 125 trillion yuan, with the Shenzhen Stock Connect becoming the main channel for foreign investment in A-shares, while the Hong Kong Stock Connect injects liquidity into the Hong Kong market [2]. - The "Cross-Border Wealth Management Connect" has expanded, with a scale exceeding 120 billion yuan, and has seen a significant increase in participation from individual investors [9]. Internationalization of Financial Institutions - Domestic and foreign banks are increasingly engaging in mutual cooperation, exemplified by WeBank's establishment of WeBank Technology in Hong Kong, which has expanded its reach to multiple markets and engaged over 20 partners with intentions exceeding hundreds of millions of dollars [5][6]. - Global financial institutions are intensifying their presence in the Greater Bay Area, with HSBC and Fubon Bank establishing new offices and Santander Bank receiving approval for its Shenzhen branch [6][7]. Securities Industry Developments - The "Cross-Border Wealth Management Connect" 2.0 has seen over 160,000 individual investors participating, marking a growth of over 120% compared to version 1.0 [9][10]. - Securities firms are optimistic about the upcoming "Cross-Border Wealth Management Connect" 3.0, which is expected to expand beyond the Greater Bay Area to major cities like Beijing and Shanghai [10]. - Guangdong-based securities firms are increasing their investments in Hong Kong subsidiaries to build a second growth curve, with notable investments from firms like GF Securities and First Capital Securities [10][12]. Cross-Border Insurance Services - The cross-border insurance services are improving, with policies supporting the development of cross-border medical insurance and vehicle insurance [14][15]. - As of mid-2023, cross-border vehicle insurance has provided coverage for 90,300 vehicles, and health insurance has served over 150,000 individuals [14][15]. - Insurance institutions are establishing operations in the Greater Bay Area to enhance international business, with companies like PICC Hong Kong and China Taiping actively participating in regional development [16]. Upcoming Events - The 20th China Economic Forum will take place on November 18 in Nansha, focusing on the integration of technology and finance, with over 200 representatives from government, listed companies, and financial institutions expected to attend [20].
贯通金融动脉 互联互通赋能大湾区建设丨魅力湾区·相约南沙
证券时报·2025-11-13 02:23