Chinese Government Authorities Give Details of Financial Reform Agenda in Greater Bay Area

On 24 April 2020, the PBOC, CBIRC, CSRC and SAFE released a new 30-point plan containing details of the government policy support planned for the financial services sectors in the Greater Bay Area (which was officially published later on 14 May 2020). The plan is the most significant milestone for the Greater Bay Area since the Outline Development Plan covering the seven broad areas of development of the Greater Bay Area was released in February 2019.
In this client note, we set out the key highlights of the 30-point plan, on which further detailed implementing rules are expected to be released in short order.