The added value of the financial industry of Hengqin amounted to RMB1.4 billion (US$207 million/MOP1.66 billion) in 2016, marking a 91 per cent increase year-on-year, according to data released by the Hengqin Financial Industry Association, the Hengqin New Area official online portal reported.
The amount represents nearly 8.91 per cent of Zhuhai’s GDP, a district of Guangdong province where Hengqin Island is situated.
Hengqin currently has some 4,903 financial enterprises, an increase of 1,187 from the number recorded at the beginning of 2017.
The Hengqin Financial Industry Association was established in January 28, 2016.
The portal reports that it currently has 111 member units, in addition to 80 observer units linked to industries that range from banking and security to insurance, both privately and publicly-funded.
Created to serve as a platform to enable communication between the government and financial institutions, the association aims to strengthen the self-management of financial sectors, regulate the industry’s construction and promote the healthy development of the financial industry.
