The Guangdong-Hong Kong-Macao Greater Bay Area is characterized by “one country, two systems”, therefore a challenge it faces is that “the market connectivity needs to be further improved with effective and efficient flow of production factors”. Both infrastructure connectivity and favorable policies for the smooth flow of production factors are essential to establishing an international innovation and technology hub and a globally competitive modern industrial system. A free flow of various factors lies in leveraging the decisive role of markets in resource allocation. If production factors cannot flow effectively and efficiently, the role of the market will be compromised. Read more

China still faces institutional defects, which necessitates institutional reform on the supply side. Supply-side structural reform is a long-term measure. In many cases where long-term structural reforms remain stagnant, short-term measures, which target the demand side, including fiscal expenditure, money supply, interest rates, tax rates, etc., need to be taken to maintain sustained development. Read more

On March 11, Z/Yen and CDI jointly released the twenty-fifth edition of the Global Financial Centres Index (GFCI 25) during the Global Financial Forum in Dubai.

In GFCI 25, we researched 112 centres for this edition, with 102 centres in the main index and 10 in the associate list. GFCI 25 was compiled using 133 quantitative measures provided by third parties including the World Bank, The Economist Intelligence Unit, the OECD, and the United Nations, with the combination of 29,065 financial centre assessments provided by respondents to the GFCI online questionnaire.

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Hong Kong has been ranked among the top 3 global financial hubs, following New York and London, according to the 25th edition of the Global Financial Centers Index report launched on Monday in Dubai.

Following Singapore, Shanghai grabbed fifth position on the list ahead of Tokyo, Toronto and Zurich, according to the report jointly released by the city of London's think tank Z/Yen Group and Shenzhen's China Development Institute. Read more

Based in Shenzhen and founded in 1989, China Development Institute (CDI) is a non-governmental think tank that develops solutions to public policy challenges through broad-scope and in-depth research to help advance China's reform and opening-up. Based on rigorous research and objective analysis, CDI is committed to providing prospective, innovative and pragmatic reports for governments at different levels in China and corporations at home and abroad. In December 2015, CDI was designated as one of top 25 national leading think tanks in a pilot project of central government which is aimed at promoting the building of new-type of think tanks with Chinese characteristics.