China has introduced new measures to develop Nansha, located in the southern Guangdong province, into a financial pilot zone. This move makes Nansha the third financial hub in the Greater Bay Area, joining Qianhai and Hengqin, as the region aims to deepen its market connections with Hong Kong. The initiative seeks to bolster technological innovation and position Nansha as a key link between the Bay area and global financial markets, according to a statement released by authorities including the People’s Bank of China, the National Financial Regulatory Administration, and the China Securities Regulatory Commission.
The plan aims to foster the growth of technology industries and enhance the ease of cross-border payments. Key measures outlined in the initiative include support for cross-border investment, trade, and financing, as well as efforts to facilitate futures trading and equity investments. These actions are designed to help Nansha serve as a platform for businesses to expand into international markets and create new opportunities for global financial institutions.
David Liao, co-CEO of Asia and the Middle East at HSBC, noted that the new measures will allow Nansha to significantly enhance cross-border financial activities, benefiting both international companies looking to enter the Chinese market and local firms seeking to expand globally. Liao emphasized that these changes would help strengthen Nansha’s role in facilitating international financial transactions, creating a broader environment for growth in both the tech and financial sectors.
This development is part of China’s broader strategy to integrate the cities of Hong Kong, Macau, and the nine cities in Guangdong into a unified economic and business hub under the Greater Bay Area plan, which was launched in 2019 with the goal of turning the region into a major economic powerhouse by 2035. The new measures will further advance the region’s role in global finance and international trade, aligning with the overarching goals of economic integration and financial liberalization.
As part of the Greater Bay Area’s ongoing efforts, the introduction of Nansha as a financial hub marks another step toward transforming the region into a central player in both domestic and international markets, driving innovation and fostering economic growth in a rapidly evolving global landscape.
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