Recently, Guangxi issued the “Three-Year Action Plan on Building an ASEAN-oriented Financial Opening Portal in Guangxi (2019-2021)” (hereinafter referred to as the “Action Plan”). In the future, Guangxi will focus on promoting the cross-regional use of RMB, deepen the reform of financial system and mechanism, adhere to the combination of necessity and feasibility, and promote regional financial reform and innovation scientifically and rationally, so as to explore replicable and scalable experiences for the comprehensive deepening of financial reform and opening up in the whole country.
The “Action Plan” puts forward the goals for building the ASEAN-oriented Financial Opening Portal: in 2019, Guangxi will strengthen external publicity and promotion, creating a strong atmosphere for promoting the construction of financial opening portal in the region; it will formulate a construction plan for financial agglomeration area, and promote the building of ASEAN-oriented financial operation service base, wealth management service base, financial information service base and so on; it will accelerate the establishment of comprehensive insurance innovation pilot zone and green financial reform and innovation pilot zone; and it will promote a series of innovation measures around RMB cross-border settlement, currency trading and cross-border investment and financing services. From 2020 to 2021, Guangxi will strive to promote the construction of the ASEAN-oriented Financial Opening Portal. It will further strengthen the interaction with the institutions of ASEAN countries on funds, currencies, supervision, personnel and information, and basically form a modern financial system that matches the new pattern of all-round opening-up and development.