BEIJING: China's securities regulator said on Friday it has started preparing to launch a futures exchange in the southern city of Guangzhou as part of efforts to develop the "Greater Bay Area" around the Pearl River Delta.

The China Securities Regulatory Commission (CSRC) said in a statement it has established a working group in Guangzhou to prepare for the launch.

It's part of efforts to develop the Guangdong-Hong Kong-Macau Greater Bay Area, CSRC said. Guangzhou is the capital of Guangdong province.