The Guangdong-Macao In-Depth Cooperation Zone in Hengqin promoted its financial industry and development achievements at the just concluded 11th China (Guangzhou) International Finance Expo (GIFE).
This year’s event was themed “New Era of Digital Economy, New Vitality of Lingnan Finance” at Pazhou International Convention & Exhibition Center in Guangzhou on June 24 to 26. Highlighted were supports for constructing the Hengqin Cooperation Zone and Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone from the aspects of serving the real economy, preventing and controlling financial risks, and deepening financial reform.
Themed “New Industry, New Home, New System, and New Mechanism,” the Hengqin booth covered 108 sqm (1,163 sq ft) with elements of “Macao Green” to represent a new system of joint consultation, construction, management, and sharing between Guangdong and Macao as well as Macao’s further integration into national development.
Hengqin booth [Photo courtesy Financial Development Bureau of Guangdong-Macao In-Depth Cooperation Zone in Hengqin]
Focusing on facilitating moderate diversification of the Macao economy, the development and achievements of the financial industry in the Cooperation Zone were presented to attendees from local governments, financial institutions, and the news media. Display boards demonstrated basic information, major events, policies, and statistics of Hengqin’s financial industry.
Promotion salons were held on-site by Hengqin Life and Guangdong Yuepu Small Amount Refinancing to introduce the versatile formats of Hengqin’s financial industry, policy supports, and their own developments via real cases.
Adhering to strategies and key tasks of creating a new home for Macao residents to live and work, an integrated new system with Macao featuring high-level opening-up, and new mechanism of collaboration and communication between Guangdong and Macao, the Cooperation Zone and Macao will develop modern financial industries such as a bond market, wealth management, financial leasing, and green finance while promoting connectivity of the two financial markets.
Hengqin will also increase support for the real economy, according to a responsible person in the Cooperation Zone Financial Development Bureau. So far, preferential measures initiated by the banking institutions in Hengqin have benefited 32,000 local enterprises. The total amount of financing and loan services provided by local financial organizations in the Cooperation Zone was recorded at 148.4 billion yuan ($22 billion).
The expo was organized by GZIFE Investment Management under guidance of the China Banking Association, securities and insurance associations of China, and more. About 500 representatives from the Guangzhou municipal government, national financial regulatory authorities in Guangdong, as well as experts and scholars in the financial sector, attended the June 24 opening ceremony.