Bigger stage for foreign banks in Guangdong
( 2003-11-18 15:55) (China Daily HK Edition)
Guangdong expects foreign banks to play an even bigger role in the province's economic development in the next few years.
Guangdong Vice-Governor Song Hai said yesterday that CEPA (closer economic partnership arrangement), that will come into effect next year, will offer a bigger stage and more opportunities for overseas banks to participate in Guangdong's progress.
The province has many big infrastructure projects - including airports, the metro, ports, expressways, railway network, power plants and telecommunication facilities - seeking foreign financial support and Sino-foreign joint financing, Song said at a work conference on expanding co-operation with foreign banks yesterday.
In Guangzhou alone, between 15 billion yuan (US$1.81 billion) and 20 billion yuan (US$2.41 billion) is being invested in infrastructure every year.
Song said Guangdong would continue to introduce more preferential policies to help attract foreign banks to set up their branches and representative offices in Guangdong; and create a better environment for them.
|
