The Financial Services & the Treasury Bureau (FSTB) and the Shenzhen Municipal Financial Regulatory Bureau today jointly promulgated the “Action Plan for Jointly Building Hong Kong-Shenzhen Global Fintech Hub (2025-2027)”.
The bureaus aim at fully leveraging the strengths of Shenzhen and Hong Kong in fintech, and working together to establish a global fintech centre.
Secretary for Financial Services & the Treasury Christopher Hui said the action plan integrates Hong Kong’s leading edge in fintech and Shenzhen’s strength in industrial finance.
“It puts forward various key initiatives covering areas including digital finance, techfin, green finance, inclusive finance, as well as pension finance, with a view to expanding and deepening fintech co-operation between the two places.”
Mr Hui added that the FSTB and financial regulators will work closely with the Shenzhen Municipal Financial Regulatory Bureau to actively implement the various initiatives in the action plan.
“Our goal is to establish over 20 financial application scenarios via the Shenzhen-Hong Kong cross-boundary data validation platform by the end of 2027.”
Key initiatives in the action plan include facilitating the establishment of fintech subsidiaries in Hong Kong by Shenzhen financial institutions, and supporting the two places to jointly develop fintech incubators.
Other major measures involve encouraging Shenzhen technology companies to leverage Hong Kong’s facilitation measures, such as the Biotech Companies Listing Channel, to raise funds in Hong Kong, and encouraging Shenzhen companies to issue offshore renmibi sustainable bonds in Hong Kong.
The action plan will also promote the cultivation of fintech talent in the two places, as well as strengthen connections and co-operation with the industry.