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Agricultural Development Bank of China
News for Outlets

S.China's Guangxi carries out tangible measures to speed up cons. of financial opening-up gateway to ASEAN

June 23, 2020


Abstract : South China's Guangxi Zhuang Autonomous Region has recently launched 30 tangible measures to promote construction of Guangxi as the financial opening-up gateway to the Association of Southeast Asian Nations (ASEAN), reported Shanghai Securities News.

BEIJING, June 23 (Xinhua) -- South China's Guangxi Zhuang Autonomous Region has recently launched 30 tangible measures to promote construction of Guangxi as the financial opening-up gateway to the Association of Southeast Asian Nations (ASEAN), reported Shanghai Securities News.

The measures cover various areas including talent retention and incentive, reform and innovation incentives, government subsidies for relevant financial business.

According to the measures, Guangxi will reward each licensed financial institutions, financial mid- and back-office service institutions and new financial institutions for settling in the region with a maximum of 60 million yuan, 20 million yuan and 10 million yuan respectively, so as to build the high-quality institutions cluster.

To promote cross-border financial service innovation, awards and subsidies will be given with the maximum reward of 2 million yuan for a single project.

Guangxi encourages and supports cities to carry out financial reform and innovation from the bottom up, create green financial reform and innovation demonstration areas and establish other relevant pilot areas.

By expanding financing channels, Guangxi will promote structural reforms on the financial supply side to optimize the allocation of financial resources, further promoting the development of real economy.

In addition, it's expected to attract more outstanding financial talents by improving the talent introduction mechanism, and strengthening guarantees in housing, transportation and related treatments for high-end financial talents.

With unique geographical advantages of being adjacent to the ASEAN countries, Guangxi will allocate 100 million yuan for the construction on financial opening-up gateway for ASEAN in 2020.

More investment promotion activities at home and abroad will also be carried out, giving full play to the guiding role of financial funds and actively promoting Guangxi's financial supply-side structural reform and opening-up level. (Edited by Gao Jingyan with Xinhua Silk Road, gaojingyan@xinhua.org)

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Keyword: ASEAN Guangxi financial opening-up

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