Successful Conclusion of Greater Bay Area Fintech Salon organised by the Fintech Association of Hong Kong and Shenzhen Fintech Association
On 7 September, the 50th edition of the Greater Bay Area Fintech Salon was organised by the Shenzhen Fintech Association and the Fintech Association of Hong Kong. The Shenzhen-Hong Kong exchange session was successfully held in the International FinTech Eco-Park in Futian District of Shenzhen. This is the first international salon held by the financial technology industry after the promulgation of the "Shenzhen Park Development Plan of the Loop - Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone". The event brought together Mainland Chinese, Hong Kong and overseas industry leaders to discuss the development of financial technology in the region.
Mr. Christopher Hui, Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region Government, Mr. Zhu Jiang, Deputy Governor of the Futian District People's Government, and Ms. Elizabeth Wong, Director of the Licensing Section and Head of the Fintech Unit of Securities and Futures Commission of Hong Kong, delivered video speeches to officiate the event. Other representatives from the governments and regulators of Hong Kong and Shenzhen included Mr. Ni Yanping, deputy director of the Policy and Regulation Department of the Shenzhen Municipal Local Financial Regulatory Bureau, Ms. Yuan Jian, deputy director of the Shenzhen Futian District Financial Affairs Bureau, and Mr. King Leung, Head of Financial Services and Fintech at Invest Hong Kong. More than 150 guests attended the event, including the management of the Shenzhen Fintech Association and the Fintech Association of Hong Kong, as well as representatives from member units of the Shenzhen Fintech Association, enterprises in Futian Fintech Dual Park, corporates and academia in Hong Kong and Shenzhen. The salon was hosted by Xin Murong, deputy director of the Operations Department of Shenzhen Fintech Association and brand director of Shenzhen-Hong Kong-Macao Fintech Talents.
Mr. Hui, Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region Government stated in the welcome remarks that the Hong Kong SAR government attaches great importance to the development of financial technology and has launched a number of initiatives in cooperation with financial regulatory agencies and the fintech industries on both sides. Promoting cross-border financial technology cooperation is a particular focus. Hong Kong has a vibrant fintech ecosystem, with more than 800 fintech companies operating in Hong Kong. With Hong Kong’s advantages in connecting the mainland and international markets, the “14th Five-Year Plan” and the “One Belt and One Road” initiatives, and the development opportunities of the Guangdong-Hong Kong-Macao Greater Bay Area, Hong Kong can add value to the businesses of financial technology companies in the mainland and overseas, providing tremendous opportunities for development. He hopes that the financial communities in Shenzhen and Hong Kong can continue to work together to create a new highland for financial cooperation between Shenzhen and Hong Kong and contribute to the high-level development of the Guangdong-Hong Kong-Macao Greater Bay Area.
Mr. Zhu Jiang, Deputy Governor of the Futian District People's Government explained in the conference that “The "Shenzhen Park Development Plan of the Loop - Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone" has given Futian a new mission, and major opportunities are coming. In the future, the Loop will become a pilot area for open cooperation in science and technology innovation between Shenzhen and Hong Kong, a pilot area for international advanced science and technology rules, and a pilot transformation cluster in the Guangdong-Hong Kong-Macao Greater Bay Area. In the future, Futian District will further focus on the development of fintech industry and build a digital currency building, striving to become the first digital renminbi-themed building in the country with digital renminbi as its core and cross-border features where upstream and downstream enterprises gather. To promote the high-quality development of digital finance in the Greater Bay Area, Futian welcomes more Shenzhen and Hong Kong companies to settle in and jointly promote the high-quality development of digital finance in the Bay Area.
The event was followed by 5 panel discussions, revolving around the topic of prospects of fintech industry in the Guangdong-Hong Kong-Macao Greater Bay Area, case-sharing of Shenzhen and Hong Kong fintech innovators, risk compliance and fintech solutions for financial institutions of Hong Kong and Macao, transformation of cross-border finance in the Guangdong-Hong Kong-Macao Greater Bay Area and opportunities and challenges in the fintech industry for wealth management and insurance.
This article was published by the Shenzhen Fintech Association and has been translated into English. If there is any inconsistency or ambiguity between the English version and Chinese version, the latter one shall prevail. The full text of the article, in Chinese, can be found below: