At the 7th Guangdong-Hong Kong-Macao Greater Bay Area (GBA) Financial Development Forum, held in Nansha, Guangzhou on August 30, senior officials from the Hong Kong Monetary Authority (HKMA) and the Monetary Authority of Macao (AMCM) shared new policy directions aimed at deepening regional financial integration.

Deputy Chief Executive of the HKMA, Chen Weimin, said the authority is encouraging mainland enterprises to establish overseas business headquarters and corporate treasury centers in Hong Kong to better coordinate global capital flows.

He noted that global payment systems still face challenges such as high costs and multiple intermediaries. Hong Kong is advancing initiatives involving central bank digital currency (CBDC), commercial bank money, and blockchain-based applications to provide more efficient cross-border payment solutions for trade and investment.

Hong Kong's position as an international financial center has already made it a preferred location for treasury centers. To strengthen this role, the government has introduced tax incentives: treasury center profits from “specified activities” can enjoy a 50% concession, lowering the profit tax rate to 8.25%. Combined with Hong Kong's status as an offshore renminbi hub and its free flow of capital, these measures aim to support mainland companies expanding abroad.

Deputy Chief Executive of the HKMA, Chen Weimin, said the authority is encouraging mainland enterprises to establish overseas business headquarters and corporate treasury centers in Hong Kong to better coordinate global capital flows.

He noted that global payment systems still face challenges such as high costs and multiple intermediaries. Hong Kong is advancing initiatives involving central bank digital currency (CBDC), commercial bank money, and blockchain-based applications to provide more efficient cross-border payment solutions for trade and investment.

Hong Kong's position as an international financial center has already made it a preferred location for treasury centers. To strengthen this role, the government has introduced tax incentives: treasury center profits from “specified activities” can enjoy a 50% concession, lowering the profit tax rate to 8.25%. Combined with Hong Kong's status as an offshore renminbi hub and its free flow of capital, these measures aim to support mainland companies expanding abroad.

Meanwhile, Huang Shanwen, Acting Chairman of the Administrative Committee of the AMCM, announced that Macau is moving forward with the development of its digital pataca (e-MOP). A sandbox testing program is scheduled to begin by the end of the year, with efforts to enhance interoperability with banks and coordination with China's digital renminbi.

Huang emphasized that future integration between the digital pataca and the broader GBA financial system will help drive innovation and connectivity across the region.