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PBOC Promotes Connect Programs of GBA Financial Markets, Encourages Co-op between Banking Sector & Foreign Institutions
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The People’s Bank of China (PBOC), the National Financial Regulatory Administration (NFRA), the China Securities Regulatory Commission (CSRC), the State Administration of Foreign Exchange (SAFE), and the Guangdong Provincial Government jointly issued the Opinions on Financial Support for Deepened Comprehensive Cooperation in Nansha, Guangzhou with Hong Kong and Macao Facing the World. The document aims to strengthen financial support for Nansha’s development, further enhancing its role as a driving force for the high-quality development of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). It seeks to position Nansha as a pilot demonstration window for China’s financial industry opening, a hub for financial innovation, and a key node in the GBA’s international financial hub. The Opinions encourage banks to collaborate with foreign-invested institutions to explore new business models such as “loans + external direct investment”. They support insurance institutions in legally investing in venture capital funds or directly in sci-tech innovation enterprises. Eligible manufacturing and sci-tech enterprises in Nansha are encouraged to issue sci-tech bonds and notes, and to explore hybrid equity-debt financing models. The document also promotes the listing and financing of key manufacturing enterprises on domestic and foreign markets. AAStocks Financial News |
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