Author(s)

Xiaolu Hu ¹

Affiliation(s)

¹ School of Accounting, Guangzhou College of Commerce, Guangzhou, Guangdong, China

Corresponding Author

Xiaolu Hu

ABSTRACT

The practical foundation for financial rule convergence in the Guangdong-Hong Kong(China)-Macao(China) Greater Bay Area lies in the coexistence of three legal jurisdictions (three legal systems) and three circulating currencies under the "one country, two systems" framework. In this context, adhering to the principle of equality represents a core requirement for implementing the "one country, two systems" policy, while the realization of equality must aim at achieving mutual benefit and win-win outcomes. Therefore, "one country, two systems," equality, and mutual benefit collectively constitute the fundamental principles and conceptual framework for financial rule convergence in the Greater Bay Area. In terms of practical approaches, administrative coordinated legislation, with its operational simplicity and efficiency, emerges as a feasible solution to promote the convergence of financial rules in the Greater Bay Area.

KEYWORDS

Guangdong-Hong Kong(China)-Macao(China) Greater Bay Area; Financial Rules; Mutual Benefit

CITE THIS PAPER

Xiaolu Hu, Research on the Convergence of Financial Rules in the Guangdong-Hong Kong(China)-Macao(China) Greater Bay Area. Financial Engineering and Risk Management (2025) Vol. 8: 142-147. DOI: http://dx.doi.org/10.23977/ferm.2025.080216.

REFERENCES

[1] CHEN J. Coordination of legal conflicts between jurisdictions under the principle of "one country, two systems"[J]. International Economic Cooperation, 2007(6): 89-92.
[2] LUO H. Resolution of interregional legal conflicts under the principle of "one country, two systems"[J]. Journal of Beijing University of Chemical Technology (Social Sciences Edition), 2002(4): 21-28.
[3] ZHANG L. Approaches to resolving civil and commercial legal conflicts between Chinese mainland, Hong Kong(China) and Macao(China) in the context of Guangdong-Hong Kong-Macao Greater Bay Area construction[J]. Social Scientist, 2024(4): 8-13.
[4] TU K, LI R. Comparative study on legal rule convergence approaches in the Guangdong-Hong Kong-Macao Greater Bay Area[J]. China Rule of Law, 2024(9): 35-39.

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