Page 530 - 2021 White Paper
P. 530
1 White Paper on the Business Environment in China
to serve the real economy, win-win cooperation, II. Promote the diversification of financing
market-orientation and preventing systemic channels between Guangdong, Hong Kong
financial risks. In order to further promote and Macau, and promote the connectivity of
financial openness and innovation, deepen financial markets and financial infrastructure.
financial cooperation between the mainland
and Hong Kong and Macau, increase financial Support institutions in Guangdong, Hong Kong,
support for development of the Guangdong-Hong Macau and Macau in jointly establishing funds
Kong-Macau Greater Bay Area and enhance the related to the Greater Bay Area under the premise
supporting and leading role of the Guangdong- of complying with laws and regulations. Insurance
Hong Kong-Macau Greater Bay Area in China's funds and bank financial management funds are
economic development and opening-up, the encouraged to participate in relevant funds in
following plans have been formulated. accordance with regulations. Guide all kinds of
non-governmental funds from Hong Kong, Macau
I. P r o m o t e t h e f a c i l i t a t i o n o f c r o s s - and overseas, actively participate in the pilot REITs
border trade, investment and financing in the of infrastructure, steadily and orderly participate
Guangdong-Hong Kong-Macau Greater Bay Area, in the construction of the Guangdong-Hong Kong-
and make it easier to exchange local and foreign Macau Greater Bay Area, and provide long-term
currencies and use cross-border flows and stable financial support for infrastructure
construction, development of modern industries
Expand the pilot project for higher-level trade and construction of major projects.
and investment facilitation in the Guangdong
Pilot Free Trade Zone to Mainland China of the Special economic zones
Guangdong-Hong Kong-Macau Greater Bay Area
(referring to nine cities in the Pearl River Delta China (Guangdong) Pilot FreeTrade Zone
area). Support mainland banks in Guangdong,
Hong Kong, Macau and the Greater Bay Area to The GDFTZ was formally approved by the State
directly handle RMB settlement business for cross- Council and established on 31 December 2014.
border trade in goods and services, foreign direct The implementation scope for the GDFTZ is set
investment, cross-border capital financing and at 116.2 square kilometers and covers three
return of funds raised from overseas listing and areas: (i) Nansha area of Guangzhou, a 60 square
other capital account income funds for domestic kilometer district (including 7.06 square kilometers
payment and used on the basis of implementation of Guangzhou’s Nansha Bonded Port Area); (ii)
of the “Three Principles of Industry Expansion” and Qianhai & Shekou areas of Shenzhen, a 28.2
payment instructions submitted by enterprises. square kilometer district (including 3.71 square
kilometers of Shenzhen’s Qianhai Bay Bonded Port
Carry out trials to integrate domestic and Area); and (iii) Hengqin area of Zhuhai, a 28 square
foreign currencies into cross-border capital pools. kilometer district, which was officially launched in
Support eligible multinational enterprise groups April 2015.
in Mainland China of the Guangdong, Hong Kong
and Macau Greater Bay Area in carrying out a To advance the facilitation of investment and
pilot project to integrate domestic and foreign trade, the GDFTZ has implemented a series of
currencies into a cross-border capital pool innovative policies from the following six aspects:
business, facilitate the transfer and pooling of
surplus domestic and foreign currencies among - Investment facilitation: Pre-establishment
domestic and foreign members, and exercise of a national treatment and negative list
macro-prudential management over cross-border management mode will be implemented for
capital pool business. overseas investment. For fields that fall outside
the negative lists, foreign investment projects will
be filed.
530
to serve the real economy, win-win cooperation, II. Promote the diversification of financing
market-orientation and preventing systemic channels between Guangdong, Hong Kong
financial risks. In order to further promote and Macau, and promote the connectivity of
financial openness and innovation, deepen financial markets and financial infrastructure.
financial cooperation between the mainland
and Hong Kong and Macau, increase financial Support institutions in Guangdong, Hong Kong,
support for development of the Guangdong-Hong Macau and Macau in jointly establishing funds
Kong-Macau Greater Bay Area and enhance the related to the Greater Bay Area under the premise
supporting and leading role of the Guangdong- of complying with laws and regulations. Insurance
Hong Kong-Macau Greater Bay Area in China's funds and bank financial management funds are
economic development and opening-up, the encouraged to participate in relevant funds in
following plans have been formulated. accordance with regulations. Guide all kinds of
non-governmental funds from Hong Kong, Macau
I. P r o m o t e t h e f a c i l i t a t i o n o f c r o s s - and overseas, actively participate in the pilot REITs
border trade, investment and financing in the of infrastructure, steadily and orderly participate
Guangdong-Hong Kong-Macau Greater Bay Area, in the construction of the Guangdong-Hong Kong-
and make it easier to exchange local and foreign Macau Greater Bay Area, and provide long-term
currencies and use cross-border flows and stable financial support for infrastructure
construction, development of modern industries
Expand the pilot project for higher-level trade and construction of major projects.
and investment facilitation in the Guangdong
Pilot Free Trade Zone to Mainland China of the Special economic zones
Guangdong-Hong Kong-Macau Greater Bay Area
(referring to nine cities in the Pearl River Delta China (Guangdong) Pilot FreeTrade Zone
area). Support mainland banks in Guangdong,
Hong Kong, Macau and the Greater Bay Area to The GDFTZ was formally approved by the State
directly handle RMB settlement business for cross- Council and established on 31 December 2014.
border trade in goods and services, foreign direct The implementation scope for the GDFTZ is set
investment, cross-border capital financing and at 116.2 square kilometers and covers three
return of funds raised from overseas listing and areas: (i) Nansha area of Guangzhou, a 60 square
other capital account income funds for domestic kilometer district (including 7.06 square kilometers
payment and used on the basis of implementation of Guangzhou’s Nansha Bonded Port Area); (ii)
of the “Three Principles of Industry Expansion” and Qianhai & Shekou areas of Shenzhen, a 28.2
payment instructions submitted by enterprises. square kilometer district (including 3.71 square
kilometers of Shenzhen’s Qianhai Bay Bonded Port
Carry out trials to integrate domestic and Area); and (iii) Hengqin area of Zhuhai, a 28 square
foreign currencies into cross-border capital pools. kilometer district, which was officially launched in
Support eligible multinational enterprise groups April 2015.
in Mainland China of the Guangdong, Hong Kong
and Macau Greater Bay Area in carrying out a To advance the facilitation of investment and
pilot project to integrate domestic and foreign trade, the GDFTZ has implemented a series of
currencies into a cross-border capital pool innovative policies from the following six aspects:
business, facilitate the transfer and pooling of
surplus domestic and foreign currencies among - Investment facilitation: Pre-establishment
domestic and foreign members, and exercise of a national treatment and negative list
macro-prudential management over cross-border management mode will be implemented for
capital pool business. overseas investment. For fields that fall outside
the negative lists, foreign investment projects will
be filed.
530
