A series of measures supporting the development of an international financial island in the China (Guangdong) Pilot Free Trade Zone Nansha Area of Guangdong was released by the Nansha district government on Oct 14.

The international financial island, covering a total area of around 2 square kilometers, is located in Mingzhu Bay of Guangzhou's Nansha district, which is a core area of the Guangdong-Hong Kong-Macao Greater Bay Area.

Co-built by Guangzhou, Nansha district, and the International Finance Forum (IFF), the island is the first of its kind in China. Functional areas such as the permanent venues of IFF, financial expo parks, financial research institutes, and international schools are included in the overall planning of the island.

Preferential policies issued by Nansha in areas such as finance, modern service, and talents will be implemented to support innovations in areas like cross-border finance. Distinctive elements featuring finance, including technology and shipping, will also be developed in the area.

Guangzhou, Hong Kong, and Macao will team up in the establishment of international commercial banks in Nansha to serve the construction and technological innovation of the Guangdong-Hong Kong-Macao Greater Bay Area.

Talents, companies, new research and development institutions, as well as companies involved in service industry management from other countries, Hong Kong, Macao, and Taiwan that are settling in the area will be able to receive financial support according to the series measures.

The aerial view of the China (Guangdong) Pilot Free Trade Zone Nansha Area of Guangdong. [Photo/gznsnews.com]