China announced an expansion of the Qianhai economic cooperation zone in Shenzhen. The expansion is part of a plan to further integrate Hong Kong and Macau’s economies into the Greater Bay Area, which includes Guangzhou, Shenzhen and other Pearl River Delta cities. The plan, which was shy on details, calls for the zone to further open up the financial sector and liberalise the service trade, , allowing cross-border use of the renminbi, and offering more convenient foreign exchange management.
Source: Strait Times
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