12 January 2024
On 12 January 2024, the People's Government of Guangdong Province issued the “Action Plan for Improving the Strategy of China (Guangdong) Pilot Free Trade Zone” (“the Plan”). The Plan proposed to accelerate the implementation of facilitating foreign debts for financial leasing companies, introduce implementation rules for the quota sharing of foreign debts by Special Purpose Vehicles (“SPV”), encourage qualified enterprises to share the quota with the SPVs to raise funds effectively and support Nansha in building a global aircraft leasing centre with Hong Kong and Macao. In addition, the Plan also supported the establishment of a Cross-border Wealth Management and Asset Management Centre and a Climate Investment and Financing Centre in the Guangdong-Hong Kong-Macau Greater Bay Area and improve the cross-border financial services.