07 June 2023
On 7 June 2023, the General Affairs Office of the People's Government of Guangzhou Municipality issued the “Implementation plan for Improving the Modern Financial Service System in Guangzhou Municipality” (“the Plan”). The Plan focused on accelerating the establishment of international commercial banks in the Guangdong-Hong Kong-Macao Greater Bay Area (“GBA”), highlighting the characteristics of comprehensive cooperation among Guangdong, Hong Kong and Macao, and facilitating the construction and development of GBA. In addition, the Plan supports the establishment of an insurance service centre in Nansha district so as to provide after-sales services to HK or Macao insurance policies holders that are living or working in the GBA.