Financial Openness Supports the New Development Pattern of Double-Cycle

Abstract

As an important platform for opening up and a demonstration area for high-quality development in coastal areas, the Guangdong-Hong Kong-Macao Greater Bay Area has significantly enhanced its economic strength and regional competitiveness, and has the basic conditions for building a world-class bay area and a world-class urban agglomeration. The degree of financial opening is the key to realize the economic development under the new development pattern of "taking domestic circulation as the main body and domestic and international circulation mutually promoting each other". This paper from the perspective of financial support, using factor analysis of financial open effect comprehensive index, analysis of financial open effect in a large bay area of Guangdong in the old and new kinetic energy conversion, support the role of double cycle system establishment, and put forward a large bay area double cycle development under the new pattern of financial open development strategy and construction path.