China Business Network:

My question is related to the capital markets. There are two major stock exchanges in the Greater Bay Area in Hong Kong and Shenzhen. I would like to know, in the process of the construction of the Greater Bay Area, how can the two exchanges contribute to its development. Another concern is the future reform of the growth enterprise market of the Shenzhen Exchange, as we know both Shanghai and Hong Kong have made some institutional breakthroughs in supporting technology innovation enterprises to be listed. What will be the key point of Shenzhen Exchange's reform in the future? Thanks.

Lin Shaochun:

Thank you for the question. As you said, finance is very important in the construction of the Greater Bay Area, and the financial industry is of great significance to the economic development of Guangdong, whose gross domestic product reached 9.72 trillion yuan last year, with more than eight percent contributed by the financial industry's added value. I think we should make efforts in the following aspects to promote the development of financial industry while constructing the Greater Bay Area.

First, the finance must be stable and free of problems. If there is something wrong with finance, the influence upon the whole economy is unacceptably great. So, we must abide by the State's relevant financial policies to boost the development of financial industry in the Greater Bay Area. Second, you mentioned that Shanghai has transformed its approval system to a registration system regarding technology and innovation-based enterprises' application for stock market listing. We are also seeking support from the central department for this. Currently, we are following the central government's requirement and improving the relevant conditions. Third, we follow the central government's requirements to strengthen supervision in preventing financial risk. Among the three difficult battles involved, the first is to prevent and control financial risk. In future, we must ensure the financial industry serves economic development, and healthy development of the financial sector. Thanks.  

Economic Daily:

Accelerating the connection of infrastructure facilities is an important support element for construction of the Guangdong, Hong Kong and Macao Greater Bay Area. But apart from the hardware connections, society also expects more convenient management measures to facilitate the exchanges of people and transport vehicles, so as to promote the flow of production factors. My question is: what consideration, if any, is being given in this regard.

Luo Wen:

Thank you for the question. The efficient flow of production factors is not only a foundation for market integration and Greater Bay Area construction, but also an issue society cares about and that should be solved. General Secretary Xi Jinping has pointed out that we should strengthen the "soft connection" of mechanisms and "hard connection" of infrastructural facilities. We must implement his important guiding spirit to promote the efficient flow of production factors. Specifically speaking, we need to do two jobs well.

First is the "hard connection" of infrastructural facility construction. We should plan it as a whole and expedite planning of construction of inter-city railways and connection of the infrastructural facility construction in the Greater Bay Area, among which the connection of the Mainland with Hong Kong and Macao, and the connection between the east and west banks of the Pearl River are key jobs. We should further improve the network of major railways in the Greater Bay Area, and construct an express inter-city transportation network consisting of high-speed railway, inter-city railways and high-speed roads. We need to improve the Pearl River Delta port cluster's international competitiveness, and accelerate the construction of a world-class airport cluster.

Second is the "soft connection" of institutions and mechanisms. The work should be led by the construction of an international science and technology innovation center, a focus on science and technology innovation, personnel exchanges and some other key areas, and promoting the rollout of systematic pro-innovation policies to facilitate the flow of science and technology talent and research cooperation.

We should strengthen collaboration among the customs departments and ports in Guangdong, Hong Kong and Macao, to expand and improve their functions, and facilitate customs clearance in the three places according to law, so as to make it more convenient for personnel exchanges between the Mainland and Hong Kong and Macao. We are working to optimize policies allowing Hong Kong and Macao single-plate registered automobiles to enter the Mainland, and exploring the possibility of letting Hong Kong and Macao residents living and working in Guangdong, to enjoy the same welfare level in education, medical care, pension, housing and transportation as their Mainland counterparts. Thanks.

Xi Yanchun:

I'd like to thank our four speakers for attending this news conference. Thank you all. That's the end of today's event.

By Li Xiaohua, Zhang Liying, Zhang Junmian, Liu Sitong, Zhang Jiaqi, Huang Shan, Zhang Lulu, Wu Jin, Zhang Rui, Li Jingrong, Li Yang, Wang Wei, Wang Qian, Wang Yanfang, Yuan Fang, Zhou Jing, Li Shen, Jennifer Fossenbell, Geoffrey Murray