What are 6 financial services trends that will emerge in the GBA in the next 5 years?
One of them is close collaboration amongst authorities.
Accounting and finance professionals in Hong Kong believe there will be six trends that will influence investments in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) in the next five years.
The first of which is a growth in corporate investment, which 68% of professionals predict will happen.
Another trend that will emerge will be corporates and investors participating in green finance and carbon trading. According to CPA Australia, 48% of experts said their company will participate in such practice in the next five years.
"Hong Kong may play a role as a super-connector to link China's carbon trading scheme with the rest of the world and set the GBA on a fast track to improve the quality and efficiency of green and sustainable finance. We suggest the authorities across the GBA cities explore the possibility of establishing a unified carbon trading market to serve both domestic and international investors," said CPA Australia which conducted the research.
Meanwhile, the openness of capital flow will remain a key advantage for businesses operating in the GBA, according to 35% of finance professionals.
Other influences on GBA investments that professionals foresee include digital payment technology enhancing financial connectivity, more resources for talent availability, and closer collaboration amongst GBA's cooperating zones.