(Yicai Global) March 1 -- The Shanghai Stock Exchange opened a 'south center' in the Chinese city of Guangzhou today that will be committed to supporting development of the Greater Bay Area.
The new center will serve the capital market needs of the southern provinces of Guangdong, Fujian, Hainan and other regions, the Wen Wei Po newspaper reported, citing the SSE.
The government last month issued an outline plan to shape the Greater Bay Area into a world-class city cluster covering 56,000 square kilometers. The area encompasses nine cities in Guangdong, including Guangzhou and Shenzhen, as well as Hong Kong and Macau.
The Shanghai Stock Exchange is one of the mainland's two major bourses, and boasts more than 1,000 listed companies. It is working on a new technology innovation board to support the listing of innovative companies.
The SSE conducts bond financing, listed company services, enterprise cultivation, investment training and technical information cooperation. In the future, it will internationalize and expand into businesses such as product innovation and capital market research. It will also help Guangdong's tech firms grasp the new board's rules.