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The Greater Bay Area: A Golden Opportunity for the Hong Kong Insurance Industry?
22 February 2019
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On 18 February the PRC State Council published its blueprint for the development of the Greater Bay Area, an area comprising Hong Kong, Macau, Shenzhen, Guangzhou and a number of other cities in Guangdong province.
The blueprint promotes a number of initiatives involving the insurance industry, such as mutual market access, development of cross-border products and InsurTech cooperation.
Although its impact will depend on future implementing regulations, the blueprint is an important endorsement of existing key initiatives that pose significant growth opportunities for insurers authorized in Hong Kong.
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