Nansha sees rapid growth in number of financial enterprises

The Nansha district of Guangzhou held a conference on May 16 at the Yuexiu International Finance Center, to promote its cross-border financial policies while boosting foreign banks' investment in the district.

The conference invited representatives from six foreign banks including the Bank of East Asia, Nanyang Commercial Bank, Chong Hing Bank and Luso International Banking, which have made contributions to Nansha's development in terms of its real economy and financial innovation.

Since the State Council issued the Nansha Plan in June 2022, an overall blueprint for the district to deepen comprehensive cooperation among Guangdong, Hong Kong, and Macao, Nansha has been developing its financial industry at full stretch.

In 2022, the added value of Nansha's financial industry reached nearly 20 billion yuan ($2 billion) with a year-on-year increase of 9.1 percent, ranking fifth among all the district's industries.

Over the past eight years, the district has witnessed a 56-fold increase in the number of its financial enterprises, including banks, securities, financial leasing companies, and private equity funds, which now total nearly 6,800.

Nansha conducts an investment promotion conference at the Yuexiu IFC. [Photo/WeChat account: nanshafabu]