Apart from taking into full consideration the elements of time, place and people, we can benefit from observing the achievement of others in financial innovation. For products or services that are sophisticated or distinctive, we can study the concepts, repackage or adapt them for introduction to the local market. Much can be gained and shared from getting to know other markets through cross-border exchange.
Through mutual understanding and interaction, we have better understanding of other markets and hence better knowledge. Since the return to the Motherland and the signing of the Closer Economic Partnership Agreement (CEPA), economic ties between Hong Kong, Macao and the Mainland have much strengthened. There will be profound implications if trade transactions between these places can be settled in Renminbi.