28 February 2023
On 28 February 2023, the General Office of the People's Government of Guangdong Province issued the "Action Plan on Financial Support for Promoting High-quality Economic Development in Guangdong Province" ("the Plan"). The key tasks of the Plan are to speed up the construction of Qianhai Shenzhen-Hong Kong International Financial City, promote pilot reforms in foreign exchange and RMB internationalization in Qianhai, optimize the pilot program for the Qualified Foreign Limited Partner ("QFLP"), and facilitate the connection of rules and regulations between Hong Kong Limited Partnership Funds ("LPF") and QFLP in Qianhai. The Plan also proposed to introduce special measures on financial support for the development of Nansha, facilitate the pilot program for investment and financing, and expand the two-way financial cooperation with Hong Kong and Macao in fields such as capital market, scientific innovation finance, cross-border insurance and green finance etc.