In recent years, under the leadership of the CPC Central Committee and the State Council and the direct command of the Leading Group for the Development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Financial Stability and Development Committee under the State Council, the GBA has witnessed continuously enhanced connectivity in infrastructure and regulations, accelerated flow of key factors including capital, technology, talent and information, and constantly enhanced market integration.
This demonstrated that the ECB had managed to inherit the high level of credibility that had been achieved by the most successful national central banks joining the monetary union, in particular the Deutsche Bundesbank.