APRIL 2022

The Guangdong-Hong Kong-Macao Greater Bay Area (“GBA”) is one of key national economic development strategies for China. In the latest publication by the Italian Chamber of Commerce in Hong Kong and Macao (ItalianCham Magazine Issue No. 14), CRIF and Nova Credit Limited shared how they are contributing to the social and economic development of the GBA through cross-boundary data mutual recognition and the implementation of cutting-edge technologies.

CRIF is a significant minority shareholder of Nova Credit, which was recently shortlisted as tenderer for the Multiple Credit Reference Agencies (“MCRA”) in Hong Kong.

The highlights of the contribution are as follows:

  • Nova Credit was appointed as business operator for the first “Greater Bay Area Cross-boundary Data Mutual Recognition Platform” in Nansha, Guangzhou, which was set up in November 2021.
  • As part of the core competence and mission of CRIF in Asia, Nova Credit established the first Cross-border credit standard system, helping solve the problem of mutual recognition of cross-border credit products, as well as enabling sustainable commercial financing across the GBA and Southeast Asia.

Read the full article “Creating opportunities in GBA with cross-border collaborations of CRAs” here to find out more about the contribution of CRIF and Nova Credit to the GBA development.