MACAU DAILY TIMES 澳門每日時報 » Hengqin Financial Sector Grows 11% to RMB 8.2 Billion in H1

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Aaccording According to data released by the Hengqin Financial Development Bureau, the added value of the financial sector in the Guangdong-Macao Deep Cooperation Zone in Hengqin reached RMB 8.2 billion in the first half of 2022, up 11%. on a year-on-year basis, representing 36.7% of the area’s GDP. At the same time, the zone’s financial revenue reached nearly 7.5 billion RMB, with an increase of 31.3%, absorbing 38.1% of regional taxation.

At the end of June, 711 financial companies were established in the cooperation zone, including 78 approved financial companies and their branches, as well as 54 local financial organisations. There are also 579 private fund managers, managing RMB 577.2 billion, and 1,788 fund projects, covering RMB 466.7 billion.

Cross-border RMB settlement increased by 21.1% and reached 154.3 billion RMB in the first half of 2022. And the premium income was around 5.5 billion RMB, with an increase of 67.6% from one year to the next.

Since 2022, the Cooperation Zone Financial Development Office and Science and Technology Development Fund (FDCT) have been promoting a cross-border data verification online platform, based on blockchain technology to facilitate Guangdong residents and from Macau.

Currently, the bureau has also implemented two financial pilot plans to encourage enterprises to perform better, including medicine and healthcare, high-tech semiconductors, and more. There are a total of 27 Qualified Foreign Limited Partner (QFLP) pilot companies, including 10 Macau-funded companies. settled in the cooperation zone, which creates a healthy business environment and attracts much more investors.

In the second half of this year, the cooperation area will continue to accelerate the development of the financial industry, small and medium enterprises and the list of enterprises to strengthen financial cooperation in this area. MDT/NewsGD

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