The proposal outlines a broad strategy to enhance financial connectivity, including the adoption of the Cross-boundary Wealth Management Connect scheme and the development of specialized financial products like intellectual property pledge financing. Beyond digital currency, authorities are pushing for regional headquarters of international financial institutions and the establishment of the Greater Bay Area International Commercial Bank. Commodity trading also figures prominently, with plans to strengthen spot and futures markets for iron ore, crude oil, and rubber.
In section Cryptocurrency
Guangdong targets cross-border digital yuan expansion
Guangdong is positioning its free trade zone as a hub for financial innovation, proposing an expansion of digital yuan pilots and cross-border payment systems. The draft development plan for 2026–2030, released by the provincial Department of Commerce, aims to integrate offshore finance and advanced settlement infrastructure into the region’s economic framework.
These initiatives arrive on the heels of a successful pilot between the Industrial and Commercial Bank of China and its Singaporean counterpart. That transaction, which settled nearly 10 million yuan in shipping fees via the CBETS platform, demonstrated the potential to bypass traditional intermediary banks and reduce processing times. By leveraging ISO 20022 standards and a unified settlement network, the province seeks to solidify its role in China's evolving international digital payment landscape. The Guangdong Department of Commerce is accepting public feedback on the draft through September 5.
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