Over the past year, the guangdong-Hong Kong-Macao Greater Bay Region has implemented policies such as cross-border financial connectivity and southbound bond connectivity. Shenzhen's ipo of 5 billion yuan bonds in Hong Kong has become a hot market, and Shenzhen and Hong Kong signed four cooperation agreements in September, participants said. A series of breakthroughs show that the connectivity and high-quality development of the Guangdong-Hong Kong-Macao Greater Bay Area has entered a higher level.

Hong Kong SAR's Secretary for Financial Services and the Treasury, Mr Hui Chung-yu, said that the Cross-border Financial Link was the first of its kind for individual investors to facilitate cross-border investment by individuals living in the Guangdong-Hong Kong-Macao Greater Bay Area. The Southbound Link will allow Mainland investors to invest in Hong Kong's bond market through a link between infrastructure institutions on both sides. The measures will further enhance Hong Kong's unique function of connecting mainland funds and international markets, as well as its position as a global offshore RENMINBI business hub and international asset management center, and help advance the internationalization of the renminbi.

It can be seen that these policies have promoted the development of the Guangdong-Hong Kong-Macao Greater Bay Area to a higher level. As the policy system of the Guangdong-Hong Kong-Macao Greater Bay Area is improving day by day, the Area is constantly exploring new mechanisms and paths for coordinated regional development and moving to new heights in institutional innovation, reform and opening up. Wu Shicun, founding president of the Institute for South China Sea Studies and vice president of the Institute of Free Trade Ports with Chinese Characteristics, said the Guangdong-Hong Kong-Macao Greater Bay Area and Hainan Free Trade Port can be developed in tandem.

According to Wu shicun, first of all, the Guangdong-Hong Kong-Macao Greater Bay Area and Hainan FREE Trade Port have great potential for complementation and mutual learning. The Guangdong-Hong Kong-Macao Greater Bay Area has accumulated rich practical experience in the construction of business environment, talent policy design, industrial policy innovation and other aspects, which are the foundation of institutional integration and innovation in the construction of Hainan FREE Trade Port. Similarly, some of hainan's unique policy and institutional innovation achievements can also take the lead in spreading, trial and promotion in the Guangdong-Hong Kong-Macao Greater Bay Area. Secondly, in terms of industrial structure, free trade port in hainan around tourism, modern service industry, high-tech industry and the characteristics of high efficiency optimization of tropical agriculture and manufacturing, with a large bay area of guangdong is given priority to with strategic emerging industries, modern financial services between the modern industry system is "a small amount of competition, most complementary relationship." Finally, the agglomeration advantage of key production factors such as talents, scientific research and capital in the Greater Bay Area is exactly the "short board" facing Hainan FREE Trade Port at the present stage, which leaves room for the amplification effect of "1+1>2" resources and factors created by the interconnection between the two places.

How do we do that? At present, the development of the Guangdong-Hong Kong-Macao Greater Bay Area and Hainan FREE Trade Port association is still restricted by geographical distance and disparity in economic development level. In this regard, Wu Shicun said that we should break through the bottleneck of qiongzhou Strait passage, shorten the geographical space distance between "districts" and "ports", and promote the efficient, free and convenient flow of factors between the two places. The current comprehensive transportation cost of Hainan Free Trade Port and Guangdong-Hong Kong-Macao Greater Bay Area is much higher than that of other regions in China due to the constraints of qiongzhou Strait and the relatively backward construction of railway transportation network. Therefore, it is necessary to promote industrial and port connectivity in Haikou, Zhanjiang and Beihai, as well as economic linkage in the vicinity of haikou, Zhanjiang and Beihai, to cultivate a new economic growth pole in Hainan, western Guangdong and eastern Guangxi, and to make Hainan an important intersection of the "double cycle", providing a focal point for the interconnected and innovative development of "regions" and "Hong Kong". Hainan can give full play to its advantage of being at the forefront of Southeast Asia, and play a role as a "hub" of capital, trade, investment and infrastructure connectivity in the guangdong-Hong Kong-Macao Greater Bay Area and other regions of The country in docking RCEP. At the same time, modern Marine economy is one of the main contents for the guangdong-Hong Kong-Macao Greater Bay Area to build a modern industrial system. Hainan can also actively participate in the exchanges and cooperation in Marine industry and port economy in the Pan-Nanhai region to promote the convenient flow of goods, capital, technology and talents in the region.