Hong Kong Commercial Daily:

Financial support for the real economy is a highlight of Nansha's development and a focus of the Nansha plan. What measures has the PBC taken to promote Nansha's development through financial support? What are your plans for the future? Thank you.

Wang Xin:

Thank you for the questions. The PBC attaches great importance to developing the GBA and Nansha, a critical platform for cooperation between Guangdong, Hong Kong, and Macao. Under the leadership of the CPC Central Committee and the State Council, we have strengthened financial support to boost Nansha's high-quality development, aid with Nansha's role in deepening comprehensive cooperation between Guangdong, Hong Kong, and Macao, and build a major strategic GBA-based platform with a global outlook. In terms of top-level design, we have introduced 15 financial reform measures for Nansha, the Guidelines on Financial Support for the Development of China (Guangdong) Pilot Free Trade Zone, the Opinions on Financial Support for the Development of the Guangdong-Hong Kong-Macao Greater Bay Area, and other targeted documents. Regarding the connectivity of financial markets, we officially launched the Cross-boundary Wealth Management Connect Scheme in the GBA last October, expanding cross-boundary wealth management channels for residents in the GBA, including those in Nansha. To facilitate cross-border investment and financing, the State Administration of Foreign Exchange launched a pilot program for high-standard opening-up of cross-border trade and investment in Nansha last November and introduced 13 specific measures. Free trade accounts and cross-border capital pool business have also been launched in Nansha. In terms of financial leasing, we have vigorously boosted the concentration and innovative development of the sector, and several new transactions, such as cross-border aircraft subleases, have been launched in Nansha. In terms of green finance, the Guangzhou Futures Exchange was unveiled in Nansha, developing products that can serve low-carbon and green development, such as carbon emission rights, electricity, and new energy metals. In terms of risk prevention, we have supported Nansha in building a local financial risk monitoring and prevention platform for Guangdong province and continuously enhanced risk monitoring and prevention abilities. Overall, finance has become a pillar industry in Nansha. Just seven or eight years ago, Nansha started to develop its financial sector from scratch. In 2015, the value-added of the financial sector was almost negligible. In 2021, the value reached 17.15 billion yuan and accounted for 8.05% of Nansha's GDP. A total of 6,650 financial enterprises have settled in Nansha, an increase of 54 times within seven years. The tax contributions paid by the financial sector increased at an average annual growth rate of nearly 60% from 2016 to 2021.

Going forward, the PBC will continue to implement the decisions and plans of the CPC Central Committee and the State Council, support the development of Nansha's modern financial sector in collaboration with relevant departments, and promote the implementation of various innovative measures such as high-standard opening-up of cross-border trade and investment, push forward financial market connectivity in an orderly manner, improve risk prevention and control abilities while pursuing opening-up, and provide strong financial support for Nansha to build a critical platform for cooperation between Guangdong, Hong Kong, and Macao, and to better play a leading role in the development of the GBA.

Thank you.