Guangzhou will accelerate the establishment of the Greater Bay Area International Commercial Bank to support the development of the cross-border asset management center

According to reports from domestic media, Sun Zhiyang, Deputy Secretary of the Guangzhou Municipal Committee and Mayor, stated today (28th) that Guangzhou will focus on promoting the convenient cross-border movement of personnel, expanding the scope of mutual recognition of professional qualifications, iterating the release of a list of recognized overseas professional qualifications for practice, and simplifying the approval process for financial and medical personnel from Hong Kong and Macau to practice in Guangzhou.

Sun Zhiyang stated that Guangzhou will work to promote the interconnection of financial markets, deeply implement the "30 Measures for Nansha Finance," accelerate the establishment of an international commercial bank in the Greater Bay Area, and support the development of a cross-border asset management center in the Greater Bay Area (Guangzhou Nansha); support the Guangzhou Futures Exchange in continuously enriching its product system and strengthening cooperation with the Hong Kong Stock Exchange; further improve the QDLP and QFLP pilot programs, develop public fund investment advisory services, expand the product range of the "Cross-Border Wealth Management Connect," and explore the implementation of cross-border "Credit Information Connect."

In addition, Guangzhou will establish and improve a normalized data governance coordination mechanism between Guangzhou, Hong Kong, and Macau, focusing on promoting mutual recognition of rules such as cross-border digital identity authentication, and facilitating the implementation of the negative list for data exit in the Guangdong Free Trade Zone in Nansha, working together with Hong Kong and Macau to create a trustworthy data space in the Greater Bay Area, and promoting the sharing and mutual inspection of compliant medical data among the three regions.

The report further stated that Guangzhou will also build an international medical service center in the Greater Bay Area, support the expansion and quality enhancement of policies such as "Hong Kong and Macau Drug and Medical Device Pass" and "Elderly Medical Voucher," strengthen cooperation in traditional Chinese medicine, and carry out cross-border transportation services between Guangzhou and Macau; further promote the standardization pilot of cross-border elderly care services in Nansha, innovate in carrying out cross-border elderly care service practices, and promote the mutual communication of elderly care policies and mutual recognition of standards; jointly promote the implementation of the free travel policy for yachts in Guangdong, Hong Kong, and Macau as soon as possible