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Reinforcing the development of the Guangdong-Hong Kong-Macao Greater Bay Area

GUANGZHOU: A New Global Financial Resources Allocation Center (May 21, 2018)

NEW YORK, May 21, 2018 /PRNewswire/ -- On May 18, the Bureau of Financial Affairs of Guangzhou Municipality, the key city of the Guangdong-Hong Kong-Macao Greater Bay Area, held the Guangzhou Finance Roadshow to Global Bay Area New York Forum.

Targeting three major bay areas —Tokyo, San Francisco and New York — the 2018 Guangzhou Finance Roadshow to Global Bay Area brings America its incentive-based policies and investment opportunities.

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

At the New York forum, Guangzhou Equity Investment Association and GSV Global Silicon Valley Corporate Innovation Institute co-signed the "Guangzhou International Innovation Project Exhibition Center."

It will provide services for Chinese enterprises in scientific and technological innovation and technology acquisition to create an integrated, high-end technology-industry innovation service platform of international cooperation. The center also will combine production, teaching and research investment.

By accelerating industrial upgrades with technology introduction and promoting regional economic development, the forum served to assist Guangzhou in establishing an international technology innovation hub and national innovation center city.

Senior management personnel, financial industry experts and scholars from Park Sutton Advisors investment bank, IDG and other companies had in-depth exchanges with attendees on financial development innovation and financial policies in the New York Bay Area.

Keynote speakers from Guangzhou financial functional zones and finance agencies shared their resources, key projects and other advantages as well as future development needs, seeking cooperation opportunities from both sides to further promote financial exchanges and cooperation in the Bay Area.

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

As of 2017, GZIFE had attracted more than 300 exhibitors and nearly 780,000 visitors. The seventh GZIFE will be held in Pazhou, Guangzhou, from June 22-24.

Guangzhou is formulating policies to expand financial opening-up to the world and improve the level of financial internationalization, further relax restrictions on foreign investment access, reduce access thresholds for Hong Kong-funded capital financial institutions, support the approval of foreign financial institutions and increase financial policy support.

Located in the center of the Guangdong-Hong Kong-Macao Greater Bay Area with opportunities from the Belt and Road Initiative and the establishment of the Free Trade Pilot Zone (Hong Kong) etc, Guangzhou is focusing on strengthening international financial cooperation in cross-border financial asset transactions, cross-border renminbi (RMB) two-way financing, aircraft leasing, shipping finance, financial technology and green finance.

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SOURCE China Daily USA

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