Synergistic Development of Financial Institutions in Zhuhai and Macao, Model 1: “Single Passport”

Shusong Ba () and Zhifeng Wang ()
Additional contact information
Shusong Ba: China Banking Association
Zhifeng Wang: ESG and Sustainable Finance Committee of China Economic System Reform Research Association

Chapter Chapter 16 in Financial Innovation and Paths of Cooperation of City Clusters, 2025, pp 267-284 from Springer

Abstract: Abstract The “single passport”, which is mainly implemented within the European Union, means that a financial institution is free to operate in other EU member states as long as the member state in which it is located approves it, and that other member states may not, in principle, impose additional regulatory requirements. Prior to the implementation of the “single passport”, EU financial institutions had to obtain permission from each member state in which they intended to conduct cross-border operations. As the core system of the EU single financial market, it has significantly contributed to the integration of financial services among EU countries, mainly by reducing barriers to the provision of cross-border financial services among member states. The unified implementation of the “single passport” system in the Guangdong-Hong Kong-Macao Greater Bay Area will provide institutional protection for the cross-border establishment and operation of financial institutions in Zhuhai and Macao, and will help the synergistic development of financial institutions in both places.

Date: 2025
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-96-7198-4_16

Ordering information: This item can be ordered from
http://www.springer.com/9789819671984

DOI: 10.1007/978-981-96-7198-4_16

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().