04 September 2023
On 4 September 2023, the Guangdong Financial Supervisory Authority and several other authorities issued “the Implementation Plan for Financial Supports to Construction Opinions of the Hengqin Guangdong-Macao Intensive Cooperation Zone” (“the Plan”). The Plan specified to promote the transaction linkage between the Hengqin Guangdong-Macao Intensive Cooperation Zone and financial institutions in Macao, including supporting the Hong Kong Macao Renminbi (“RMB”) Clearing Bank to carry out interbank lending and borrowing through the national interbank lending market, enhancing the convenience of capital financing the Guangdong-Hong Kong-Macao Greater Bay Area, and satisfying the normal RMB liquidity management needs of the offshore market. In addition, the Plan pointed out to strengthen the exchange and cooperation between the Cooperation Zone and the Stock Exchange of Hong Kong and the Financial Assets Exchange of Macao, and to support financial institutions in the Cooperation Zone to provide financial services to enterprises in Hong Kong, Macao and other offshore markets under the premise of strengthening the construction of supporting systems and risk control.