BEIJING, Feb. 28 (Xinhua) -- Under the newly-issued development plan for Guangdong-Hong Kong-Macao Greater Bay Area, brokers are expected to usher in new opportunities, said major brokerages in the region.
According to the analysis of Huatai Securities, the plan will benefit various businesses, including wealth management, asset management, brokerage, investment banking and direct investment. This is because the financing channels between mainland and Hong Kong will be further expanded, with stronger presence of cross-boundary investment channels such as Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect and Bond Connect. In addition, cross-border bond and green bond projects will be given more policy support.
Analysts with China Galaxy Securities Co., Ltd. point out that the plan also supports the development of characteristic financial products and encourages Guangzhou to modernize its financial service system, as well as build itself into a regional private equity trading market. This all provides better development conditions of the industry.
At present, the bay area has become one of the most vigorous clusters for brokers in China. According to latest data from the Securities Association of China, there are 131 registered brokerages in Chinese mainland, of which 28 are headquartered in the bay area. (Edited by Li Wenxin, liwenxin@xinhua.org)
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