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Mainland, Taiwan & HK seek more cooperation


04-21-2016 00:38 BJT

An economic and financial forum co-organized by three publications from the Chinese mainland, Taiwan and Hong Kong was held in Hong Kong on Wednesday. Representatives from across the straits exchanged views on such issues as the “One belt, One road” initiative and the internationalization of the RMB.

The forum with a theme of “New Opportunities in the Economy of Greater China” attracted a variety of political, economic and academic representatives .

2016 marks the advent of China's 13th Five-Year Plan which aims to bring about a prosperous society in all aspects. The forum examined the trends, changes and opportunities in finance and trade during the course of future transformations.

Plagued by divided politics and slowing economic growth, Hong Kong is looking for opportunities that China's "One Belt, One Road" initiative can bring to the city.

Hong Kong can play a unique role in the process thanks to its abundant talent and experience in finance and trade.

Taiwan is an important trading partner of the mainland and interactions between the two are getting closer. Taiwan hopes to maintain the positive momentum, and calls for more candid exchanges across the straits.

Experts say there's room for more cooperation.

The mainland has advantages in geopolitics and infrastructure construction while Taiwan and Hong Kong enjoy advanced in legal systems, market rules and managerial expertise.

China's capital has not yet completely opened to international markets. Hong Kong is the largest offshore renminbi centre in the world while Taiwan is determined to expand its RMB business. Experts say Hong Kong and the mainland can collaborate to develop more renminbi-denominated financial products to meet the growing market.

Under the 'One Belt, One Road' initiative, the Chinese mainland, Taiwan and Hong Kong should make use of their advantages to complement each other. A deeper economic integration among the three will herald a bright future. 

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