At the 2015 China (Guangzhou) Annual International Investment Meeting on March 26, the project of the China (Guangdong) Free Trade Pilot Zone in Nansha became a hot topic among the attendees from Guangdong and Hong Kong. It was learnt that Nansha will be highly motivated to promote the development of the financial industry, especially through the development of financial leasing, which is an emerging industry. It aims to establish a RMB100-billion-level cluster of financial leasing industry as soon as possible.

 

Guangzhou to build main hub based on the Maritime Silk Road within three to five years

 

Guangzhou Mayor Chen Jianhua said at the meeting that, currently a new round of global scientific and technical revolution as well as industrial revolution is surging forward and the Chinese economy has entered the New Normal stage, while the reform in a vital stage and the opening-up in a new stage. This promotes Guangzhou to accelerate transformation and upgrading, expand reform and opening-up and improve its status as a national central city.

 

It was learnt that Guangzhou has determined the strategy to build international business center, shipping center, world famous cultural city and traffic hub in South China. Chen said Guangzhou will be highly motivated to participate in international cooperation and competition, explore new opportunities for further development, stimulate new growth, develop new advantage through creation of new environment and set up new patterns to make Guangzhou a new benchmark for international cooperation and competition in the global system of cities.

 

Centering on the increasingly hot topic on the free trade zone, Chen said Guangzhou will strive to build up the main traffic hub, free trade port and foreign contact center based on the Maritime Silk Road within three to five years to make them new “engines” for future economic growth.

 

Nansha to establish first financial leasing company with nationwide layout

 

To deepen the opening-up and innovation of the financial sector is a major task of the free trade pilot zone in Nansha and also a hot topic among all parties. It was learnt at the Financial Leasing Promotion Conference of Nansha New Area held on March 26 that Nansha will be highly motivated to promote the development of the financial industry, especially through the development of financial leasing, which is an emerging industry. It aims to establish a RMB100-billion-level cluster of financial leasing industry as soon as possible.

 

So far, China has clearly declared to launch pilot projects for development of financial leasing in Nansha. The local governments of Guangdong and Guangzhou will introduce related policies to build Nansha into the third financial leasing cluster following Binhai (Tianjin) and Pudong (Shanghai). Ten ministries and commissions, including the People's Bank of China, have issued the Nansha 15 Financial Innovation Measures, requiring Nansha to build China’s first pilot zone for reform of the system for unified management of financial leasing concerning both domestic and foreign financing.

 

It was learnt that large amount of demands for ocean transportation of cargos usually occur during certain festivals or seasons, and most of them are short-term demands. Therefore, the shipping companies may suffer losses if they buy too many freighters for the short-term demands and then leave them unused for a long time. This provides broad market for the port-based financial leasing sector. What’s more, such business mode has been adopted in Nansha since last year. In December 2014, Zhujiang Financial Leasing Company was established as Guangdong’s first financial leasing company with nationwide layout. The company said it will make great efforts to support the development of agriculture and shipbuilding sectors in Nansha New Area and will launch businesses for leasing of aircrafts, ships and other material objects nationwide.

 

Experts suggest cooperation between Guangzhou, Hong Kong and Shenzhen for a better development of shipping industry

 

At the meeting, the project of the China (Guangdong) Free Trade Pilot Zone in Nansha became a hot topic among the attendees from Guangdong and Hong Kong. Concerning the cooperation in shipping, Nicholas Kwan, Chief Economist and Director of Research of Hong Kong Trade Development Council, said that there is space for cooperation between Hong Kong and Nansha in shipping and logistics, though competition between the two parties exists.

 

Nicholas Kwan said that, whether for Hong Kong, Shenzhen or Guangzhou, the cargos are sourced from the Pearl River Delta Economic Zone. The total annual throughput of the freight terminals of Guangzhou, Hong Kong and Shenzhen is more than two times as much as that of Shanghai and Singapore. “Such statistics are very important. With good cooperation between the ports of Guangzhou, Hong Kong and Shenzhen, the development of shipping economy will enter a new stage.” Nicholas Kwan said, under the cooperation between Hong Kong and the new driving forces in Guangzhou and South China, the shipping industry must be able to have a better development.

 

Source: Nanfang Daily, March 27, 2015