1. LINE

      Text:AAAPrint
      Economy

      Bay Area eyes more investors

      1
      2019-07-09 08:44:22China Daily Editor : Li Yan ECNS App Download

      A vessel sails toward the Hong Kong-Zhuhai-Macao Bridge. (Photo by Xia Yu/For China Daily)

      Local financial institutions set to introduce new cross-border services, products

      Financial service providers in the Guangdong-Hong Kong-Macao Greater Bay Area are seeking to attract investors with more cross-border products, as the area gains increasing popularity globally.

      Some experts believe it is time to establish an integrated market and supervision mechanism in the area to facilitate the development of its financial industry.

      A survey of about 4,000 people living in the area by the Shenzhen Financial Society showed 70 percent of interviewees said cross-border consumption needs to be more convenient. Half expect an easing in policies related to the purchase of cross-border wealth management and insurance products.

      With that in mind, many financial firms are competing to launch more convenient cross-border products this year.

      CGB (China Guangfa Bank) said on July 5 to lower the threshold for Hong Kong and Macao citizens to apply for credit cards so they do not need to provide extra deposits, collateral or complicated certificates of income and employment.

      Lyu Shengnan, assistant president of CGB's Credit Card Center, said owning mainland credit cards could help Hong Kong and Macao citizens to set up personal credit records so it is more convenient for them to borrow for vehicle and property loans in the future.

      In addition, she said the bank is opening its first branch in Hong Kong soon.

      Bank of China in March also launched a pilot program in Hong Kong for local citizens to open mainland accounts without having to travel there for the application. The account can be linked to mainland mobile payment applications for convenience in digital payments.

      UnionPay, on the other hand, has lifted the burden on Hong Kong and Macao citizens in setting up mainland bank accounts to make a cross-border payment while charging no extra service fee.

      Anticipating an increase in traffic, mainland mobile payment service providers such as Alipay and WeChat Pay are also stepping up the pace to expand in Hong Kong, starting with mainland tourists and cross-border transportation.

      In security trading, agencies are using easier processes and lower cost to lure new clients. Valuable Capital Ltd, a Hong Kong-based broker backed by SINA Corporation Group, started to open stock accounts online from last September after the service was allowed by local governments.

      The startup recently set foot in the A-shares market as well, promising to charge only one third of the industry's average commission so its Hong Kong clients can trade in the three markets of the mainland, Hong Kong and the United States.

      "Financial companies in the Bay Area have been spontaneously exploring the integration of their services for individuals and corporations in the region," said Xing Yujing, president of the Shenzhen Central Subbranch of the People's Bank of China, the country's central bank.

      She believed they are prepared to follow unified rules and regulations so that capital flow channels in the Bay Area could be essentially linked, instead of the current system of product-based integration.

      She said a joint committee of GBA financial institutions should be established to coordinate the differences of rules and standards in Hong Kong, Macao and Guangdong so they could operate under a unified set of guidelines.

      Related news

      MorePhoto

      Most popular in 24h

      MoreTop news

      MoreVideo

      News
      Politics
      Business
      Society
      Culture
      Military
      Sci-tech
      Entertainment
      Sports
      Odd
      Features
      ECNS Wire
      Biz
      Economy
      Travel
      Photo
      CNS Photo
      Video
      Video
      Special Coverage
      Infographics
      Voices
      LINE
      Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
      Copyright ©1999-2019 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.
      主站蜘蛛池模板: 全黄性性激高免费视频| xxxxwww免费| 国产成人免费片在线视频观看| 在线人成精品免费视频| 成人免费视频软件网站| 亚洲国产成人在线视频| 黄+色+性+人免费| 77777午夜亚洲| 国产VA免费精品高清在线| 免费中文字幕在线| 一级毛片a免费播放王色| 久久久久亚洲AV成人网| 国产精品九九久久免费视频 | 亚洲成a∧人片在线观看无码| 无人影院手机版在线观看免费| 亚洲午夜激情视频| 久久精品无码专区免费| 国产高清免费观看| 国产精品亚洲精品日韩电影| 亚洲人成人网站在线观看| 中国性猛交xxxxx免费看| 日韩免费视频网站| 免费人人潮人人爽一区二区| 国产亚洲精品AA片在线观看不加载| 中文字幕无码一区二区免费| 亚洲激情在线视频| 成人免费无码大片a毛片软件 | 国产无限免费观看黄网站| 亚洲AV永久精品爱情岛论坛| 免费国产高清毛不卡片基地| 亚洲午夜国产精品无码 | 毛片大全免费观看| 美女视频黄.免费网址| 亚洲日韩精品一区二区三区无码| 免费视频成人片在线观看| 中文字幕乱码亚洲无线三区| 国内精品久久久久久久亚洲| 84pao强力永久免费高清| 亚洲精华国产精华精华液 | 无码人妻一区二区三区免费| 美女裸体无遮挡免费视频网站|