Guangdong banking on finance

Financial service companies expect the pilot free trade zone in Guangdong to play a key role in fostering innovation and boost business with its close proximity to Hong Kong and Macao.

The Guangdong zone, to be unveiled on Tuesday, is spread over an area of 116.2 square kilometers and includes Nansha New Area in Guangzhou, Qianhai New Area and Shekou in Shenzhen, and Hengqin New Area in Zhuhai.

It marks a major move for deepening reform, expanding opening-up and promoting deepened cooperation between the Chinese mainland, Hong Kong and Macao, according to the overall program for the zone released by the State Council on Monday.