Guangzhou's Nansha announced that the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) Cross-border Wealth and Asset Management Center started operation in the district on February 5. The Center is expected to boost financial cooperation between Guangzhou, Hong Kong, and Macao and optimize the allocation of financial resources in the GBA. It aims at developing the GBA into an international finance hub, according to the Nansha government. Along with the operation of the Center, 12 strategic cooperation projects have settled in Nansha to further enhance cross-border wealth and asset management with related companies. These projects will also promote asset management innovations to address climate change by introducing foreign investments in the field of climate. Lin Shaoli, the Economist of Nansha Economic and Technological Development Zone, said that with Nansha International Finance Island, Nansha will introduce banks, securities, insurance, funds, trusts, futures, and other financial institutions from Hong Kong and Macao. "We will encourage asset management products and businesses innovation. We will also promote their development by integrating resources such as finance, technologies and industries,” Lin added. Nansha has a solid foundation for the financial and capital management market, with about 7,000 financial enterprises in 23 categories, including banks, securities, financial leasing, and private equity funds, according to Liao Xiaosheng, Head of Finance Bureau in Nansha Economic and Technological Development Zone.   https://www.newsgd.com/node_99363c4f3b/e812f64618.shtml