On December 15, the People's Bank of China(PBOC) Guangzhou Branch and Guangdong Free Trade Zone(FTZ) Office jointly held a meeting on financial support to Guangdong FTZ. It is an important measure of Guangdong to carry out the Guiding Opinions on Financial Support to China (Guangdong) Pilot Free Trade Zone(Guiding Opinions) recently issued by PBOC. Vice Governor Chen Yunxian addressed the meeting.

 

The promulgation and implementation of the Guiding Opinions defines the direction and tasks for the financial reform of Guangdong FTZ and brings new opportunity for Guangdong’s financial reform and opening-up, said Chen. Next, related departments, organizations and financial institutions should further intensify the sense of timeliness and responsibility to boldly practice, actively explore and strengthen coordination in the aspects of the implementation of the Guiding Opinions, the development of repeatable experience for publicity, the establishment of good supportive environment and the prevention of financial risk, and properly carry forward related tasks and measures.  

 

The signing ceremony for cooperation agreements between financial institutions and enterprises was held at the meeting. The cooperation agreements involve 19 projects on the business sectors of cross-border bilateral RMB financing, cross-border bilateral RMB pool, inter-financial-industry cooperation between FTZ and Hong Kong & Macao, cross-border E-commerce RMB settlement,  cross-border RMB business of non-bank financing institutions, qualified domestic limited partnership and qualified foreign limited partnership, and pool operation of multinationals’ foreign exchanges etc.

 

Source: Translated from Invest Guangzhou, Dec. 16, 2015