Tianhe district will build a financial cooperation demonstration zone in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) based on Guangzhou International Financial City during the 14th Five-Year Plan period (2021-25), said Pan Sheng, deputy director of Tianhe district commercial and financial bureau, at a news briefing held on Aug 20.

The district will explore ways to advance the opening of the national financial sector and build an open financial cooperation ecosystem from 2021 to 2025, Pan said. It will also promote the development of financial technology, introduce fintech institutions to settle in Guangzhou International Financial City, and formulate relevant supporting policies around digital finance to initially form a digital finance industry cluster.

In addition, Tianhe will draft the development plan of Guangzhou International Financial City in 2021-2025, which will focus on developing digital finance, introducing domestic and foreign renowned financial institutions or regional headquarters enterprises, and explore building a national digital finance infrastructure innovation platform and digital finance innovation center.

Guangzhou International Financial City will also develop digital culture and cultivate a number of internationally influential animation game brands and e-sports projects. It will advance the digital service trade and gather a group of high-quality brands and enterprises in digital service trade.