Interview With Su Quanjie, General Manager Of Guangdong And Macao Fund Management Company: Guangdong Guangdong Fund Investment Is Forming A Synergy Effect And Become A New Engine Of Regional Social And Economic Development.

In December 20th, Macao returned to the motherland 20th anniversary.

Over the past 20 years, Macao's economy has leaped forward, the social and people's livelihood has been improved continuously, and exchanges and cooperation with the mainland have been deepened, showing the successful practice of "one country, two systems".

Under the background of comprehensively deepening the reform and opening wider to the outside world, the construction of the bay area of Guangdong, Hongkong and Macau and the construction of the "one belt and one road" have provided significant opportunities for Macao. The Guangdong Guangdong Guangdong cooperation fund for development (hereinafter referred to as Guangdong Australia Fund) established in 2018 has become an important entry point for Macao's integration into Guangdong, Hong Kong and Macao.

Guangdong Guangdong Guangdong cooperation Development Fund Management Co., Ltd., as the fund manager of Guangdong and Macao, was led by the Guangdong Heng Jian Klc Holdings Ltd. Heng Jian holdings is the only provincial-level state-owned capital operation company in Guangdong province and the platform for integration of industry and finance. It shoulders the mission of boosting the layout and optimization of Guangdong's state-owned economy and supporting Guangdong's industrial upgrading and high quality development by boosting the new momentum of state capital operation.

In the process of establishment and operation of Guangdong and Macao fund, Heng Jian Holdings has fully played its own advantages of "four in one + fund" business combination mode and state-owned capital operation platform, and achieved good results. In commemoration of the 20th anniversary return of Macao, the twenty-first Century economic news reporter interviewed the general manager of Guangdong and Macao fund management company, Su Quan Jie, and reviewed the innovation breakthrough process of the fund from 0 to 1 and its operation since its establishment.

It is reported that the Guangdong and Macao fund is well functioning and has invested nearly 14 billion yuan in total. It not only provides capital support for interconnection and interconnection between Macao, Hong Kong and Macau, but also shares the opportunities of the motherland's economic development for the people of Macao, and plays a positive role in promoting the integration of the country into the overall development of the country.

Su Quanjie said that the projects funded by Guangdong and Macao funds are gradually forming an investment synergy and become a new engine for economic and social development in cities such as Guangzhou, Zhuhai, Jiangmen and Huizhou. He believes that with the gradual emergence of investment effect, cooperation between the two places is expected to further deepen and extend in the future, and lay the foundation for Macao's diversified economic development. At the same time, it will deepen economic cooperation between Guangdong and Macao and enhance people's emotional ties.

Su Quanjie, general manager of Guangdong and Macao fund management company. Data map

Breakthroughs from 0 to 1: sample of Guangdong and Macao's financial liberalization and innovation

Since 2015, the high-level governments of Guangdong and Macao have met many times, hoping that through the innovation of cooperation mode, Macao capital will be fully integrated with Guangdong's development and share the dividends of national and regional reform and development.

After more than two years of communication, consultation and negotiation, Guangdong and Macao formally signed the Guangdong Guangdong fund in May 4, 2018 and introduced Macao's fiscal reserve fund with QFLP (qualified overseas limited partner). The first phase is 20 billion yuan. Heng Jian holdings led the establishment of Guangdong Guangdong Macao Cooperation Development Fund Management Co., Ltd. for management and operation.

In accordance with the original intention and agreement of Guangdong and Macao to set up Guangdong and Macao fund, Guangdong and Macao funds are mainly invested in infrastructure and key projects in Guangdong province in accordance with the principles of "safety, efficiency, standardization and credit", as well as quality projects and enterprises that are related to the construction of Guangdong free trade area and beneficial to the economic and livelihood of both sides.

The Guangdong Guangdong fund is the first positive result of the two countries' innovative financial cooperation under the framework agreement of Guangdong and Macao signed by the governments of Guangdong and Macao. Su Quanjie said that as a breakthrough point for Guangdong, Macao and Guangdong to participate in the construction of the bay area of Guangdong, Hongkong and Macau, the Guangdong and Macao fund is entrusted with the mission of supporting the infrastructure and key projects in Macao, promoting the diversified development of Macao's industries, and helping the integration of the country into the overall development of the country.

Su Quanjie said that since its establishment, Guangdong and Macao funds have been implementing the important tasks of "accelerating the interconnection and interconnection of infrastructures" in the outline of the development plan for the Great Bay area of Guangdong, Hong Kong and Macao, with the aim of achieving "political, social and economic efficiency". With the theme of comprehensive transportation hub, expressway, urban track and Industrial Park as the theme, a number of projects have been implemented, with a total investment amounting to nearly 14 billion yuan.

"These investments are gradually forming an investment synergy and become a new engine for economic and social development in cities such as Guangzhou, Zhuhai, Jiangmen and Huizhou. At the same time, they will provide some opportunities for Macao enterprises to cooperate and exchange with Guangdong enterprises, so as to provide some convenience for Macao residents and youth in employment, entrepreneurship and practice in Guangdong. With the continuous development of the construction of the Bay Area in Guangdong, Hong Kong and Macao, Guangdong and Macao funds will continue to invest in projects related to the construction of the Great Bay area. Su Quanjie said.

In May of this year, the signing of the Guangdong and Macao fund was selected as the best case of the 4th anniversary system innovation of Guangdong free trade zone. The reason for the selection is the breakthrough from 0 to 1 in Guangdong and Macao fund mode. Through the establishment of foreign equity investment limited partnership in Macao's financial capital and domestic enterprises, it effectively solved the financing obstacles in Guangdong and Macao, and achieved policy approval, procedural legality and operability.

Official data show that as of March 2018, the total financial reserves of the Macao SAR amounted to 514 billion 890 million yuan in Macao, of which RMB assets were about 92 billion 190 million yuan in Macao. With the gradual expansion of the scale of fiscal reserves, the Australian side also needs to optimize the allocation of assets and strive to enhance the long-term needs of the medium and long term returns. This is also one of the background for Guangdong and Macao to explore and develop financial innovation and cooperation between the two sides. In twenty-first Century, the economic news reporter learned from the information disclosed by the Macao monetary authority that the Guangdong Australia Fund has the mechanism of exit and supervision, which provides sufficient guarantee for the preservation and increment of the investment of Macao's fiscal reserves.

With the promotion of the construction of the Da Wan area, the interoperability between Guangdong, Hong Kong and Macao has accelerated. Can such a successful experience be replicated? It turned out to be acceptable. In January 2019, Zhuhai issued the Interim Measures for the pilot management of foreign invested equity investment enterprises in Zhuhai, marking the official landing of Zhuhai's foreign-invested equity investment enterprises.

Su Quanjie said that the Guangdong and Macao fund is a financial cooperation innovation promoted by the governments of Guangdong and Macao, and it also provides a reference for private capital cooperation. Recently, Zhuhai's first QFLP pilot enterprise has been practicing Hengqin. Hang Kin holdings is planning to launch a new QFLP fund with Macao financial institutions to further deepen cross-border financial exploration in Tai Wan and promote Macao's deep participation in the construction of the bay area.

Integrating into the overall situation of the country: unlimited imagination in the future

Data show that from the beginning of the return to 2018, Macao's GDP increased by nearly 8 times, and the per capita GDP growth was nearly 5 times. During the same period, Macao's cumulative fiscal surplus and foreign exchange reserves increased by 193 times and 6.2 times respectively, and the unemployment rate of local residents in Macao dropped from 6.3% to 1.8%.

However, the industrial structure of "one industry alone" has become the main concern of all sectors to the sustainable development of Macao's economy and society. The promotion of economic development from "gambling" to "moderate pluralism" has become the focus of the SAR government's economic work in recent years. Through hard work, Macao has achieved initial success in developing new industries.

According to the analysis report of the 2018 Macao economic moderately diversified development statistical index system, the total value added of the financial industry, exhibition industry, cultural industry and Chinese medicine industry in 2018 amounted to 35 billion 330 million yuan in Macao, accounting for 8.1% of the total value added of all industries. Compared with 2015, the total added value increased by 36.5%, an increase of 0.8 percentage points.

The report of the Macao economic and financial division shows that the share of gambling industry in the overall economy is maintained at around 50%, but overall downward trend continues. The ratios between 2013 and 2018 were 63.1%, 58.5%, 48%, 46.7%, 49% and 50.5% respectively. Thanks to the sustained development of the economy, the SAR government has been relatively abundant in finance, and also hopes to seize the opportunity to share the dividends of the motherland's economic development.

"The Guangdong and Macao fund supports the demands of the two governments, and also provides opportunities for Macao to participate in and share the dividends of the motherland's economic development." Su Quanjie said that Guangdong and Macao funds operate in a market-oriented way. The project investment is mainly based on infrastructure and pays attention to the livelihood economy of both places. For example, the first project of Guangdong and Macao fund, "Hengqin Science City of Zhuhai is actually a platform for entrepreneurship and innovation, and also a platform for developing new industries in the West Bank of the Pearl River." In view of its geographical location, it can meet Macao entrepreneurs and entrepreneurs in this investment, work and life.

"At present, our fund has invested nearly 14 billion yuan, and the initial funds will soon be invested. If the evaluation results of existing investment projects are good, I believe we will continue to deepen cooperation in the future. Su Quanjie said that in addition to investing in infrastructure projects, Guangdong and Macao funds are also investing in other industries. The future will focus on the areas related to people's livelihood, such as big health and environmental protection. Some investment in Guangdong and Macao funds is expected to form industrial cluster clusters, becoming one of the paths for Macao to realize industrial diversification. At the same time, these investments provide more opportunities for Macao youth and industrial personnel to practice and work in the mainland.

In the context of further opening up of the financial industry, is there any possibility of further innovation and breakthroughs in the development of financial integration between Guangdong and Macao? In Su Quanjie's view, the general direction is very clear.

In February this year, the NDRC and the Macao SAR government signed relevant arrangements to support Macao's full participation and assistance in the construction of "one belt and one road". It explicitly supported Macao's efforts to build a financial cooperation platform for China and Portuguese speaking countries, to carry out RMB clearing business in Portuguese speaking countries, to support Macao's establishment of an export credit insurance system, to support Macao's development of financial leasing and wealth management and other special financial businesses, and to support Macao's research and construction of green financial platforms and Renminbi denominated securities markets.

"The continuous development of the mainland's financial industry and the development of Macao's special financial industry will provide more paths and conveniences for mainland enterprises and Macao enterprises to expand their business in two markets, carry out capital operation and achieve financial integration." Su Quanjie said.