Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Credit
Policy

China boosts financial support for Greater Bay Area

May 15, 2020


Abstract : A financial support guideline for the development of the Guangdong-Hong Kong-Macao Greater Bay Area has been issued, the central bank said Thursday.

BEIJING, May 14 (Xinhua) -- A financial support guideline for the development of the Guangdong-Hong Kong-Macao Greater Bay Area has been issued, the central bank said Thursday.

The guideline was jointly issued by the People's Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission and the State Administration of Foreign Exchange.

Promoting the development of the Greater Bay Area is a major strategic decision made by the Communist Party of China Central Committee and the State Council, and it is expected to have a significant and far-reaching impact on China's reform and opening-up, the central bank said in a statement.

The guideline put forward 26 specific measures for these five areas: promoting the Greater Bay Area's cross-border trade and facilitating investment and financing, expanding the opening-up of the financial sector, promoting the connectivity of financial markets and financial infrastructure, boosting innovation of the Greater Bay Area's financial services, and preventing cross-border financial risks.

The guideline is expected to help further promote financial opening-up and innovation, deepen the mainland's financial cooperation with Hong Kong and Macao, enhance the role of the Greater Bay Area in supporting and leading the country's economic development and opening-up, and provide strong financial support for building a dynamic and internationally competitive first-class bay area and a world-class city cluster, the central bank said.

Chinese authorities in February 2019 unveiled the outline development plan for the Guangdong-Hong Kong-Macao Greater Bay Area, aiming to develop the region into a role model of high-quality development.

The Greater Bay Area consists of Hong Kong, Macao and nine cities in Guangdong -- Guangzhou, Shenzhen, Zhuhai, Foshan, Huizhou, Dongguan, Zhongshan, Jiangmen and Zhaoqing. Enditem

Scan the QR code and push it to your mobile phone

Keyword: Greater Bay Area

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial