Good news for cross-boundary workers among Guangdong, Hong Kong, and Macao! A mutual recognition credit system will be launched in the Guangdong-Hong Kong-Macao Greater Bay Area soon.

According to the 21st Century Business Herald, Baihang Credit, China's first licensed market-based personal credit agency, and Nova Credit (Hong Kong) have signed a cooperation agreement. They will launch identity verification products to help cross-boundary workers adapt their work and life in the mainland and Hong Kong.

According to the latest report, the upcoming identity verification product will facilitates small and micro enterprises and private enterprises with financial services, and help professionals and talent from Guangdong, Hong Kong, and Macao start their own businesses or find jobs in any cities in the Greater Bay Area without worrying about financial issues.

Last April, the People's Bank of China and three other national financial supervision agencies issued a document stressing to increase financial support in the GBA by exploring mutual recognition of credit products and so on.

Author: Olivia (intern)

Editor: Wing, Nan, Jerry