Zheng Yongnian: The Number And Professional Division Of All Latecomer Advantageous Exchanges In Guangqi Can Reflect The Density Of Economic Activities

On the morning of April 19, Guangzhou Futures Exchange (hereinafter referred to as "Guangzhou Futures Exchange") officially opened. Guangzhou futures exchange is located in the innovative futures exchange. Its establishment will contribute to the construction of capital market highland, accelerate the construction of international financial hub and enhance the global financial influence.

During the 2021 annual conference of Boao Forum for Asia, Zheng Yongnian, President of the Institute of global and contemporary Chinese Studies of the Chinese University of Hong Kong (Shenzhen), said in an exclusive interview with the 21st century economic reporter that the establishment of the Institute is an important step for the development of Guangzhou and the whole Dawan district. In addition, Guangzhou futures exchange is the first mixed ownership exchange in China.

Zheng Yongnian told reporters that Guangqi has the advantage of backwardness and can learn from the experience and lessons of the development of other exchanges. He believes that the increasing number of exchanges in the Dawan district is conducive to economic development and is also a reflection of the intensity of regional economic activities.

21st century: what is the positive impact of the establishment of GTRI on the development of green finance in Dawan district?

Zheng Yongnian: the establishment of Guangqi Institute is an important step for the development of Guangzhou and the whole Dawan district. Green development needs a platform, a starting point and an overall planning, and the exchange is the way, the platform and the overall planning. In addition, we use the market as a whole, not the administrative power of the government. Moreover, the establishment of Guangzhou futures exchange is a national exchange, not a regional exchange in Guangzhou. Therefore, I feel that the establishment of the GTRI is a major milestone in promoting the development of the whole Dawan district and realizing the overall planning of the market mechanism.

21st century: compared with other futures exchanges, what are the advantages of Guangzhou futures exchange?

Zheng Yongnian: one advantage is late development advantage. The advantage of backwardness means that it can combine, absorb, digest and accommodate the advantages of other exchanges, as well as superimpose its own advantages. We're going to add. We can learn some good experiences from other exchanges and learn some lessons to avoid mistakes made in the past.

21st century: at present, there are Hong Kong Stock Exchange and Shenzhen Stock Exchange in Dawan District, and now there is Guangzhou futures exchange. How will the capital market of Dawan district develop in the future?

Zheng Yongnian: I hope that there will be more and more such trading platforms, because it will constitute competition, and competition is the driving force for progress, and monopoly will make the economy stagnant, so I encourage competition. In a sense, these exchanges are also economic entities, and the competition among them is conducive to progress. If there is only a single economic entity, then there will be no progress. In addition, several exchanges also have professional division of labor and cooperation.

I hope that there will be more and more exchanges. The number of exchanges and the division of professional work can show the economic density of a region. The density of economic activities in western developed countries is very high. Today, the development of our quantitative economy has reached the peak, but we want to pursue high-quality economic development, which depends on the economic density.

(Editor: Bao Fangming)