Core Viewpoint - Guangdong Province has launched a financial support plan to promote industrial chain integration and mergers, aiming to enhance the quality and competitiveness of key industries by 2027 [1][2]. Group 1: Financial Support for Industrial Integration - The plan emphasizes a market-oriented, legal, and international approach to build a comprehensive financial support system for the modern industrial system in Guangdong [2][5]. - It aims to strengthen the collaboration between upstream and downstream enterprises in the industrial chain, facilitating financial resources to key integration and merger processes [2][6]. - Specific measures include supporting mergers and acquisitions (M&A) in key industries, enhancing the quality of listed companies, and promoting the integration of state-owned enterprises [3][4]. Group 2: Encouragement of Cross-Border Mergers - The plan encourages the establishment of cross-border integration funds with Hong Kong and Macau, optimizing mechanisms for qualified foreign and domestic limited partners [4][5]. - It supports enterprises in issuing offshore RMB bonds in Hong Kong and Macau to finance industrial chain integration and encourages the use of RMB for cross-border M&A settlements [4][6]. Group 3: Financing Channels and Mechanisms - The plan outlines strategies to broaden direct financing channels in the capital market and improve the fund system to empower industrial chain integration [5][6]. - It encourages local governments to enhance comprehensive services for enterprise listings and supports technology-driven companies in accessing capital markets [5][6]. - The establishment of provincial government investment guidance funds and M&A funds is promoted to attract social capital for investment in key industrial chain segments [6][7]. Group 4: Support for Technology and Innovation - The plan highlights the need for financial institutions to develop innovative financial products tailored for technology enterprises, addressing their unique asset-light and high-risk characteristics [7]. - It encourages collaboration among banks, insurance, and investment institutions to create a comprehensive financial service system that supports technology innovation and green transformation [7].

Core Viewpoint - The Guangdong Province has issued a plan to financially support enterprises in conducting industrial chain integration and merger actions, emphasizing cross-border collaboration with Hong Kong and Macau [1] Group 1: Financial Support Initiatives - The plan encourages the establishment of cross-border integration and merger funds in collaboration with Hong Kong and Macau capital [1] - It aims to optimize the Qualified Foreign Limited Partner (QFLP) and Qualified Domestic Limited Partner (QDLP) pilot mechanisms [1] - Financial institutions from Hong Kong and Macau are supported to participate in mainland industrial chain integration and merger projects [1] Group 2: Financing and Currency Support - Enterprises are encouraged to issue offshore RMB bonds in Hong Kong and Macau for financing purposes related to industrial chain integration and mergers [1] - The plan promotes the use of RMB for settlement in cross-border mergers and acquisitions [1] - Banks are supported to provide foreign exchange risk hedging products for cross-border mergers and acquisitions [1] Group 3: Cross-Border Financial Services - The initiative aims to optimize cross-border financial services to support enterprises in a cautious and orderly manner in acquiring markets and resources through overseas mergers [1]