香港过去若干年基本原地踏步吧。甚至稍有退步。
还是新加坡居安思危。新加坡在中国大陆建设了苏州工业园和天津生态园。香港呢？只知道游行，反对，再游行，再反对。
转一个香港人写的。
编者按：香港《南华早报》金融编辑陈澍在专栏文章中指出，香港特区政府必须扪心自问：香港独树一帜的竞争优势是什么？未来一二十年内能否保持住？若不能，那么香港如何才能保持竞争力，而不是沦为又一个内地城市，并被上海等一线城市甩在后面。和讯网评论中心特翻译此文，以飨读者。
新批准的上海自由贸易区会成为规则改变者吗？
上周三晚间，当我看到北京里程碑式地批准上海成立自由贸易区这条突然新闻时，脑中冒出上了上述问题。
出乎意料的是，当我第二天搜寻相关报道时发现，上海赢得中央政府政策支持的最新喜讯并未占据任何香港中文报纸的头版。
我于是问同事：“难道香港太自信还是过于固步自封？”
在总理李克强3月份参观浦东新区以及上海贸易港口设施后，上海经历了日新月异的变化。6月底李克强做出决定，7月3日中央电视台报道总理李克强主持召开国务院会议后，国务院宣布上海自贸区将成为“中国经济升级版”的缩影。（编者注：7月3日的国务院常务会议原则通过了《中国(上海)自由贸易试验区总体方案》。会议强调，在上海外高桥保税区等4个海关特殊监管区域内，建设中国（上海）自由贸易试验区，是顺应全球经贸发展新趋势，更加积极主动对外开放的重大举措。）
上海力争成为国家经济引擎，并超越香港成为地区占主导地位的金融中心，此雄心早已成为公开的秘密。上海市市长杨雄更是表示这座城市的未来取决于自由贸易区，可使上海超越对手。
对手？是谁呢？杨雄并未指名道姓。
从更实际的角度看，国务院首先想通过上海自贸区进行试点，然后看其模式能否扩展或复制到其他内地城市，这则不会立刻威胁香港作为世界首屈一指的金融中心城市和最繁华港口的地位。
但从长远来看，特区政府必须扪心自问：香港独树一帜的竞争优势是什么？未来一二十年内能否保持住？若不能，那么香港如何才能保持竞争力，而不是沦为又一个内地城市，并被上海等一线城市甩在后面。
中央政府热衷于利用上海自贸区作为进一步金融自由化的试验田，因为其支持上海2020年前跻身世界三大重要金融中心行列，与纽约和伦敦并肩。
北京已挑选前海试水人民币资本项目开放，政府希冀人民币成为国际货币，而该地与香港仅有一个小时车程。仅从经济视角观察，留给香港反思其未来的时间显然相当有限。
周三晚间，上海自贸区获批的消息出炉前，我正在家看电视。我看到政务司司长林郑月娥再次谈论西九龙文娱艺术区的预算事项。
时间就是金钱，当我们还在花费大量时间谈及像西九龙发展问题时，其他城市已经开始行动并深知想要努力达成的目标。
The Pudong financial district in Shanghai and home to the new free-trade zone, where foreign banks can set up shop directly. Foreign banks will be permitted to set up shop directly in the free-trade zone in the Pudong New Area. They will also be allowed to establish joint-venture banks with mainland partners, either state-backed or from the private sector. The overseas partner can own the majority stake.
The move potentially cuts years from the time foreign banks must otherwise spend following a step-by-step regulatory roadmap before opening branches or subsidiaries on the mainland and is being seen as a sign of renewed effort to kick-start financial reform, the sources said.
"Li is keen to accelerate financial industry reforms. Allowing foreign banks to skip the previously required long approval process to directly set up business units in the free-trade zone shows his determination to bring in more competition to domestic banks," said one source, who declined to be identified because of the sensitivity of the information being disclosed.
The government would also encourage domestic private firms and foreign enterprises to set up financial services companies, such as accounting and rating agencies, in the zone, widely expected to be a testing ground for major policy reforms to free up cross-border commodity and capital flows, said another source.
Normally, a foreign bank needs to first set up a representative office, which will be used for communication and consulting purposes. It can apply to the China Banking Regulatory Commission to upgrade the office to a full-scale bank branch after two years, provided it has not breached any financial rules.
If the foreign bank wants to set up more branches, particularly to expand into new cities, or establish a wholly owned unit, it has to undergo a long approval process involving the banking regulator and relevant government bodies, such as the tax department.
Foreign banks including HSBC and Citigroup already have branches and wholly owned units on the mainland, but the short cut to set up units in the free-trade zone in Shanghai is expected to attract more international banks keen to secure a foothold in the world's second-largest economy.
The new rules and changes are part of Beijing's bid to create the mainland's first free-trade zone in Shanghai, the latest policy initiative to promote the city's ambitions as a global business hub and international financial centre.
"The biggest hurdle to Shanghai becoming a regional financial centre is to allow foreign banks to set up subsidiaries and enter the market freely," said a source with close ties to the State Information Centre, the think tank affiliated to the powerful National Development and Reform Commission.
"In allowing foreign banks to provide clearing services for financial transactions, this would also help further develop the international use of the yuan. It could be a major advantage for Shanghai, especially as there is still some insecurity in Beijing about Hong Kong being the major offshore yuan centre," the source added.
Of the about one trillion yuan HK$1.26 trillion) in deposits outside the mainland, about 700 billion yuan is in Hong Kong, making it the world's most important yuan market.
Beijing has been actively encouraging offshore use of the yuan in a bid to break the dominance of the US dollar as the de facto currency of global trade given that China is now nominally the world's biggest exporter.
Getting more businesses to use the yuan for trade settlement increases China's influence in the global economy despite the strict controls on the country's capital account that prevent the yuan from being freely convertible.
On July 3, the State Council issued a statement after a meeting chaired by Li that the free-trade zone in Shanghai would be a snapshot of an "upgraded Chinese economy".
More details about Beijing's landmark plan for the trade zone would be released officially in the coming days, the sources said.
This article appeared in the South China Morning post print edition as Beijing eases entry for foreign banks
Shanghai's free-trade zone puts Hong Kong's future in the spotlight
Hong Kong needs to assess what strengths can help maintain its financial hub status, as the rival mainland city bids to usurp it with its latest deal
转一个香港人写的。
编者按：香港《南华早报》金融编辑陈澍在专栏文章中指出，香港特区政府必须扪心自问：香港独树一帜的竞争优势是什么？未来一二十年内能否保持住？若不能，那么香港如何才能保持竞争力，而不是沦为又一个内地城市，并被上海等一线城市甩在后面。和讯网评论中心特翻译此文，以飨读者。
新批准的上海自由贸易区会成为规则改变者吗？
上周三晚间，当我看到北京里程碑式地批准上海成立自由贸易区这条突然新闻时，脑中冒出上了上述问题。
出乎意料的是，当我第二天搜寻相关报道时发现，上海赢得中央政府政策支持的最新喜讯并未占据任何香港中文报纸的头版。
我于是问同事：“难道香港太自信还是过于固步自封？”
在总理李克强3月份参观浦东新区以及上海贸易港口设施后，上海经历了日新月异的变化。6月底李克强做出决定，7月3日中央电视台报道总理李克强主持召开国务院会议后，国务院宣布上海自贸区将成为“中国经济升级版”的缩影。（编者注：7月3日的国务院常务会议原则通过了《中国(上海)自由贸易试验区总体方案》。会议强调，在上海外高桥保税区等4个海关特殊监管区域内，建设中国（上海）自由贸易试验区，是顺应全球经贸发展新趋势，更加积极主动对外开放的重大举措。）
上海力争成为国家经济引擎，并超越香港成为地区占主导地位的金融中心，此雄心早已成为公开的秘密。上海市市长杨雄更是表示这座城市的未来取决于自由贸易区，可使上海超越对手。
对手？是谁呢？杨雄并未指名道姓。
从更实际的角度看，国务院首先想通过上海自贸区进行试点，然后看其模式能否扩展或复制到其他内地城市，这则不会立刻威胁香港作为世界首屈一指的金融中心城市和最繁华港口的地位。
但从长远来看，特区政府必须扪心自问：香港独树一帜的竞争优势是什么？未来一二十年内能否保持住？若不能，那么香港如何才能保持竞争力，而不是沦为又一个内地城市，并被上海等一线城市甩在后面。
中央政府热衷于利用上海自贸区作为进一步金融自由化的试验田，因为其支持上海2020年前跻身世界三大重要金融中心行列，与纽约和伦敦并肩。
北京已挑选前海试水人民币资本项目开放，政府希冀人民币成为国际货币，而该地与香港仅有一个小时车程。仅从经济视角观察，留给香港反思其未来的时间显然相当有限。
周三晚间，上海自贸区获批的消息出炉前，我正在家看电视。我看到政务司司长林郑月娥再次谈论西九龙文娱艺术区的预算事项。
时间就是金钱，当我们还在花费大量时间谈及像西九龙发展问题时，其他城市已经开始行动并深知想要努力达成的目标。
The Pudong financial district in Shanghai and home to the new free-trade zone, where foreign banks can set up shop directly. Foreign banks will be permitted to set up shop directly in the free-trade zone in the Pudong New Area. They will also be allowed to establish joint-venture banks with mainland partners, either state-backed or from the private sector. The overseas partner can own the majority stake.
The move potentially cuts years from the time foreign banks must otherwise spend following a step-by-step regulatory roadmap before opening branches or subsidiaries on the mainland and is being seen as a sign of renewed effort to kick-start financial reform, the sources said.
"Li is keen to accelerate financial industry reforms. Allowing foreign banks to skip the previously required long approval process to directly set up business units in the free-trade zone shows his determination to bring in more competition to domestic banks," said one source, who declined to be identified because of the sensitivity of the information being disclosed.
The government would also encourage domestic private firms and foreign enterprises to set up financial services companies, such as accounting and rating agencies, in the zone, widely expected to be a testing ground for major policy reforms to free up cross-border commodity and capital flows, said another source.
Normally, a foreign bank needs to first set up a representative office, which will be used for communication and consulting purposes. It can apply to the China Banking Regulatory Commission to upgrade the office to a full-scale bank branch after two years, provided it has not breached any financial rules.
If the foreign bank wants to set up more branches, particularly to expand into new cities, or establish a wholly owned unit, it has to undergo a long approval process involving the banking regulator and relevant government bodies, such as the tax department.
Foreign banks including HSBC and Citigroup already have branches and wholly owned units on the mainland, but the short cut to set up units in the free-trade zone in Shanghai is expected to attract more international banks keen to secure a foothold in the world's second-largest economy.
The new rules and changes are part of Beijing's bid to create the mainland's first free-trade zone in Shanghai, the latest policy initiative to promote the city's ambitions as a global business hub and international financial centre.
"The biggest hurdle to Shanghai becoming a regional financial centre is to allow foreign banks to set up subsidiaries and enter the market freely," said a source with close ties to the State Information Centre, the think tank affiliated to the powerful National Development and Reform Commission.
"In allowing foreign banks to provide clearing services for financial transactions, this would also help further develop the international use of the yuan. It could be a major advantage for Shanghai, especially as there is still some insecurity in Beijing about Hong Kong being the major offshore yuan centre," the source added.
Of the about one trillion yuan HK$1.26 trillion) in deposits outside the mainland, about 700 billion yuan is in Hong Kong, making it the world's most important yuan market.
Beijing has been actively encouraging offshore use of the yuan in a bid to break the dominance of the US dollar as the de facto currency of global trade given that China is now nominally the world's biggest exporter.
Getting more businesses to use the yuan for trade settlement increases China's influence in the global economy despite the strict controls on the country's capital account that prevent the yuan from being freely convertible.
On July 3, the State Council issued a statement after a meeting chaired by Li that the free-trade zone in Shanghai would be a snapshot of an "upgraded Chinese economy".
More details about Beijing's landmark plan for the trade zone would be released officially in the coming days, the sources said.
This article appeared in the South China Morning post print edition as Beijing eases entry for foreign banks
Shanghai's free-trade zone puts Hong Kong's future in the spotlight
Hong Kong needs to assess what strengths can help maintain its financial hub status, as the rival mainland city bids to usurp it with its latest deal
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