The Standard Chartered Greater Bay Area Center in Guangzhou's Tianhe district finished infrastructure construction in May and will support the operation of individuals and enterprises' banking business, Lin Yuandong, Standard Chartered's head of operations for the Guangdong-Hong Kong-Macao Greater Bay Area, announced on Nov 3.

The 2022 Guangdong-Hong Kong-Macao Greater Bay Area Innovation Economy Summit was held both online and on-site in Shenzhen and Hong Kong that day.

Exterior view of the Standard Chartered Greater Bay Area Center in Guangzhou's Tianhe district. [Photo/WeChat account: gztzth]

Lin added that the project is a major strategic one for Standard Chartered, boasting a total investment of $40 million. It is expected that the center will promote the development and application of innovative fin-tech, such as big data, blockchain, and artificial intelligence, strengthening Standard Chartered's cross-border banking business.

Cheung Yup Fan, CEO of Standard Chartered Global Business Services (China), noted that Standard Chartered is confident in the future development of the Greater Bay Area and is looking forward to participating in local construction.

Cheung added that Tianhe clusters many talents, not only those in technology, but also in finance, noting that the district also has convenient transportation due to its proximity to Hong Kong. Currently, the center has more than 700 employees and the number will reach 1,600 by the end of 2023.

Benjamin Hung, CEO of Standard Chartered Asia, announced that the bank will invest $300 million in China in the next three years to grasp opportunities brought by the country's continuous opening-up.