Guangzhou: An Essential Global Financial Hub

Offering incentive-based policies and investment opportunities

The world's fourth-largest bay area is open for business

News provided by

May 17, 2018, 09:42 ET

SILICON VALLEY, Calif., May 17, 2018 /PRNewswire/ -- On May 16, the Bureau of Financial Affairs of Guangzhou Municipality, which is the key city of the Guangdong-Hong Kong-Macau Greater Bay Area, held the Guangzhou Finance Roadshow to Global Bay Area Silicon Valley Conference, which is one part of its targeted three major bay areas: Tokyo, San Francisco and New York.

Throughout the conference, Guangzhou promoted its financial policies.

For any newly established or settled financial institution, an award of up to RMB 25 million will be given in a lump sum based on the registered capital; a lump-sum award of RMB 2 million will be given to the regional head office of the bank, securities firm or insurance company; for newly introduced, leading financial talent, senior management personnel or highly specialized personnel, a lump-sum subsidy of up to RMB1 million will be given for settlement upon appraisal.

Guangzhou also detailed its achievements and functional areas, such as the Tianhe District, as well as introduced the Huangpu District and Guangzhou Development zone, Nansha District, key financial projects in Guangzhou's and the world's financial industry development.

With the goal of boosting the development of the Guangdong-Hong Kong-Macau Greater Bay Area and making it the fourth-largest bay area in the world, the promotion also highlights China (Guangzhou) International Finance Expo (GZIFE) and cross-border cooperation and exchange with the financial industry in Guangzhou.

Guangzhou has founded the first financial trial division and Guangzhou financial arbitration court in Guangdong province and has established the Guangzhou Equity Exchange, the China Emissions Exchange, the Southern Headquarters of SAC Inter-Agency Quotation System, Guangzhou Clearing Corp, Guangzhou Financial Assets Exchange, Guangzhou Shipping Exchange and six other major financial trading platforms.

At the same time, Guangzhou is planning to build a financial clustering district — Guangzhou International Financial City — at a high standard and high starting point, accelerating the construction of the Guangzhou Financial Innovation Service Zone, featuring science and technology finance; Nansha modern Financial Service Zone, featuring cross-border finance; and the Guangzhou Green Finance Reform and Innovation Pilot Zone.

As of 2017, GZIFE had attracted more than 300 exhibitors and nearly 780,000 visitors. It provided more than 18,000 practitioners with nearly 10,000 career development opportunities; on-site transactions and small-sum loan credits amounted to nearly RMB 5.5 billion.

The seventh GZIFE will be held in Pazhou, Guangzhou, on June 22-24, 2018.

Guohui Wen, mayor of Guangzhou, says the city will continue to strive to create a constructive platform for dialogue and cooperation for all participants to explore the theme of openness and innovation, "which in turn will bring about a new momentum to world economic growth and contribute to shaping the global economy".

The promotion was featured in China Daily USA on May 11.

SOURCE China Daily USA