China News Service, Guangzhou, May 26 (Reporter Cheng Jingwei) In recent years, financial institutions in Hong Kong and Macao have accelerated their plans to deploy in the Guangdong-Hong Kong-Macao Greater Bay Area.
On May 26, the Guangzhou branch of Macau Tai Fung Bank announced that the branch is positioned as the management bank of mainland branches and will focus on the Guangdong-Hong Kong-Macao Greater Bay Area.
Macau Tai Fung Bank, formerly known as Tai Fung Bank, was founded in 1942 by Mr. He Xian and others, and officially became the first locally registered bank in Macau in 1972.
In 1984, the Bank of China was invited to inject capital into the company.
After the return of Macau, Dafeng Bank has achieved rapid development in various businesses, and has now become a large-scale comprehensive cross-border service financial institution with 26 branches in Macau and branches in Shanghai and Guangzhou.
In August 2020, Macau Tai Fung Bank began to prepare for the establishment of Guangzhou Branch, which is located in Yuexiu District, Guangzhou City. It is one of the key projects signed and introduced by Yuexiu District.
At that time, the relevant person in charge of Dafeng Bank said that Guangzhou Yuexiu District gathered a number of financial authorities, plus a number of interbank, securities, insurance and other financial provincial headquarters institutions are located in Yuexiu District, the financial industry location advantage obvious.
Macau Tai Fung Bank Guangzhou Branch will open for business at the end of December 2021.
According to reports, the branch aims to "connect Guangdong, Hong Kong and Macao and serve the Greater Bay Area", and actively exerts its cross-border service function to provide financial services for enterprises and individuals in Guangdong, Hong Kong and Macao, focusing on supporting cross-border finance, technology finance, green finance, In the fields of people's livelihood and finance, it actively serves emerging industries such as advanced manufacturing, artificial intelligence, and biomedicine.
According to the previous report of the Guangdong Banking and Insurance Regulatory Bureau, the Guangdong Banking and Insurance Regulatory Bureau gave full play to the unique geographical advantage of Guangdong’s proximity to Hong Kong and Macao, and encouraged Hong Kong and Macao banks to conduct trials in the jurisdiction (Guangdong, excluding Shenzhen); actively guide and support Hong Kong and Macao banks to use CEPA ( The "Arrangement on Establishing Closer Economic Partnership") has a balanced distribution of policy advantages in Guangdong, helping Hong Kong and Macao banks to set up stations to win market opportunities.
Among them, Macau International Bank established a sub-branch in the Hengqin Guangdong-Macao Deep Cooperation Zone in October last year, becoming the first foreign bank to enter the cooperation zone after the establishment of the cooperation zone. The level of financial services of foreign banks in the district.
As of the end of 2021, the number of Hong Kong and Macao banks operating under the jurisdiction of the Guangdong Banking and Insurance Regulatory Bureau reached 94 and 7 respectively.
Among them, the four Macau banks that entered the mainland have all set up institutions in Guangdong.
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