On March 17, Construction Plan of Guangzhou Internationalized Regional Financial Center (2011-2020) and Implementation Views on Accelerating Guangzhou Construction of Regional Financial Center (2011-2015) were principally approved by the municipal executive meeting. The construction of Guangzhou as an internationalized regional financial center (RFC) will be in full swing and by 2020, Guangzhou will be an internationalized RFC in integration with Hong Kong, with important impact in China and in pace with a global metropolis.
Breakthroughs will be made in five aspects of construction: finance functional district, finance market platform, headquarter economy, capital market and financial reform and innovation. According to Wan Qingliang, Mayor of Guangzhou, preferential policies will be introduced to strengthen support and investment attraction on finance sector will be promoted. During the series promotion meetings themed "New Guangzhou, New Opportunities", investment on finance, capital market and financial platform will be a crucial part.
It is said in the Construction Plan that Zhujiang New Town Yuancun Financial and Commercial District will be constructed into the first-rate financial headquarter in China and the financial trump card in Guangzhou. At the same time, Guangzhou Financial Innovation Service District will be built in Science and Technology City and Sino-Singapore Knowledge City in advanced development mode. The "Guangzhou sector" will take shape as there will be about 100 listed companies within two years and another 100 within 5 years.
Guangzhou will explore financial integration in Pearl River Delta and pursue financial cooperation with Hong Kong and Macao through accelerating the construction of Comprehensive Experimental Zone of Financial Reform and Innovation. In the aspect of promoting financial integration in PRD, Guangzhou will foster the collaborative mechanism of inter-cities information exchanges, monitoring, early alarms and emergency response involving local government, financial control and monitoring department, financial institutes and financial industrial associations.
Pan-PRD financial cooperation and communication mechanism will also be set up and improved. In the aspect of promoting financial cooperation with Hong Kong and Macao, Guangzhou will focus on the money market, capital market and insurance market and businesses. Efforts will also be made to boost cooperation on intellectual exchanges and supporting services, to establish cooperation mechanism and payment, settlement and credit system, and to jointly combat financial crimes.
Source: english.gz.gov.cn
