Officials from the Guangzhou Municipal Government met with heads of the Guangzhou offices of national financial regulatory authorities on January 26. Guangzhou Mayor Wan Qingliang attended the meeting and obtained comments and suggestions on the acceleration of the the growth of the financial industry in Guangzhou.
During the meeting, Mayor Wan stated that Guangzhou's financial industry lags behind that of top mainland cities. Guangzhou will seize opportunities, make efficient deployments, and take six major steps to catch up:
First, Guangzhou will formulate a 10-year plan to establish the city as a regional financial center and draw up a five-year implementation program to facilitate the achievement of this goal.
Second, Guangzhou will speed up efforts to advance financial reform and innovation, press ahead with the establishment of integrated pilot zone for financial reform in the Pearl River Delta Region, advance integrated pilot insurance reform in the city, and step up support for the growth of banks and petty loan firms in the villages and towns.
Third, Guangzhou will strive to raise the number of publicly listed companies based in the city to 100 in two years and facilitate 100 more enterprises to go public in the five years ahead.
Fourth, Guangzhou will accelerate the establishment of a financial market platform, strive for the designation of the Guangzhou High-tech Zone as a pilot project of the national equity interest transfer system, speed up the comprehensive development of the Guangzhou Property Rights Trading Market, and endeavor to restore the Guangzhou Futures Exchange.
Fifth, Guangzhou will advance the planning and construction of the Yuncun Financial Business District and strive to build the Zhujiang New Town Yuncun Financial Business District and the Guangzhou Financial Innovation Service Zone into a first-class national financial headquarters center and financial service base.
Sixth, Guangzhou will step up efforts to build a joint conference system, secure greater support from the People's Bank of Chin and the China Securities, Banking and Insurance Regulatory Commission for the city's establishment of new financial institutions, innovation of financial products and services, enterprise IPOs, and integrated reform of the insurance industry, and launch a number of initiatives in financial reform and innovation.
(Translated by Guangzhou Association of Foreign Affairs Translators)
