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IBM Cloud Authors: Reinhard Brandstädter, Liz McMillan, Yeshim Deniz, Cynthia Dunlop, Derek Weeks

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The Finance Affairs Office of Guangdong Province: China Aims to Become Back Office of Global Financial Technology Industry

The first week following China's once-in-a-decade leadership reshuffle, a group of financial regulators from China's Guangdong Province visit U.S. to initiate new partnerships with Wall Street under the current frenemyship between the two nations. Led by Gaoxiong Zhou, the Chief Officer of the Finance Affairs Office of Guangdong Province, the team launched a promotion conference in NYC, detailing investment opportunities driven by Guangdong's ongoing financial reform, and picturing prospects of the Guangdong High-tech Service Zone for Financial Institutions, the province's greenhouse for high-tech capital.

As a pioneering province in market reform, Guangdong tops other provinces in both GDP and population. Its Pearl River Delta is one of China's three hubs of economic growth. Recently, Guangdong was selected by China's central government as a pilot region for financial reform, adding to its growing presence as the financial hub of South China.

In today's promotion conference, the visiting team ushers fresh investment opportunities in Guangdong's high-tech financial zone. As a strategic part of China's "Pearl River Delta Financial Reform", the zone has been incorporated into "The Outline of the Plan for the Reform and Development of the Pearl River Delta (2008-2020)" by the State Council to develop a financial center covering the Asia-Pacific region. Given Guangdong's strong financial presence in China, the ongoing reform is expected to trigger a new wave of investment opportunities.

With a total $4.3B investment, more than 85 financial institutions have located their regional head offices, high-tech centers and BPO services in the zone, among which are AIG (NYSE:AIG), IBM (NYSE:IBM), France's Capgemini, HSBC (NYSE:HBC), Hong Kong's Sun Hung Kai Finance, Bank of East Asia, and Hang Seng Bank.

"It can never be emphasized enough how perfect the timing is for an investment in Guangdong's mushrooming financial market," said Mr. Zhou in today's promotion conference for the Guangdong high-tech financial zone. "After five years of preparation, we are now here to ripe for investments, partnerships and friendships."

Attending today's promotion conference included 100 guests from Wall Street, with Dr. Daxi Li, Chairman of China Association for Science and Business, and Barry Sine, Managing Director of Drexel Hamilton LLC as keynote speakers.

About The Guangdong High-tech Service Zone for Financial Institutions

The Guangdong High-tech Service Zone for Financial Institutions, founded by the People's Government of Guangdong Province in July 2007, is the only province-level financial back-office service base in Guangdong. Locating in Nanhai District of Foshan City, the high-tech zone is a next-door neighbor of Guangzhou, the provincial capital. It covers an area of 6.95 mi², serving full infrastructure for financial BPOs, headquarters, back-office departments of financial institutions, and other high-tech centers for data processing, disaster recovery, training, and R&D. Further information is available at: http://f-hitech.com/eng/.

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