14th Five-Year Plan | Guangdong wants companies to reach RMB800 billion income by 2025

Guangdong Province will further support the Shenzhen Stock Exchange in a bid to establish a bond platform in the Greater Bay Area to attract qualified Hong Kong and Macau financial institutions and non-financial companies to issue bonds.
This goal was stated in Guangdong’s “14th Five-Year Plan for Financial Reform and Development of Guangdong Province.”
Financial exchanges and capital market connectivity in the Greater Bay Area will be strengthened to improve the interconnection of financial markets through programs such as “Shenzhen-Hong Kong Stock Connect” and “Bond Connect,” as cited in a report issued by Newsgd.com.
Guangdong Province aims to expand its companies at home and abroad to over 1,500 with premium income to surge by about RMB800 billion by 2025, adding that financial industries in Guangdong will become an important pillar of this plan, further strengthening the ability to allocate resources.
According to the report, the balance of domestic and foreign currency deposits in the province will reach RMB40 trillion. The balance of loans will reach RMB30 trillion. The overall aim is for high-quality financial development to be at the forefront of the country.
The province aims establish the Guangzhou Futures Exchange and develop a complete, high quality futures industry chain to attract global investors and enterprises. Guangzhou will also support Shenzhen in building a global financial innovation center.
The city intends to be a leader in the application of digital RMB, thereby accelerating the cultivation of leading financial and technology institutions and industry chains. LV