The financial authorities of Hong Kong and Shenzhen have announced their intention to collaboratively build a global fintech hub, aiming to further strengthen Hong Kong’s position as an international financial center and assist Shenzhen in establishing an industrial financial center of global significance.
The Hong Kong government’s Financial Services and the Treasury Bureau and the Shenzhen Local Financial Regulatory Bureau jointly issued the “Action Plan (2025-2027) on Jointly Building a Hong Kong-Shenzhen Global Fintech Hub” on the 19th, putting forward the goal of establishing a global fintech hub.
Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury, stated that the jointly launched plan combines Hong Kong’s leading advantages in fintech with Shenzhen’s strengths in industrial finance, proposing several key measures encompassing areas such as digital finance and technology finance. The target is to implement more than 20 cross-border financial application scenarios based on the Shenzhen-Hong Kong data validation platform by the end of 2027.
The new action plan includes six key measures: First, promoting Shenzhen financial institutions to set up fintech subsidiaries in Hong Kong; second, supporting the joint establishment of fintech incubators in both cities; third, encouraging Shenzhen technology companies to use Hong Kong’s “Biotech Stock Listing Channel” and other facilitative policies for financing in Hong Kong; fourth, encouraging Shenzhen enterprises to issue sustainable offshore RMB bonds in Hong Kong; fifth, promoting continuous innovation in digital RMB application scenarios; and sixth, supporting both cities’ joint participation in the research and application of the “Multiple Central Bank Digital Currency Cross-Border Network” project.
Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury, stated that the jointly launched plan combines Hong Kong’s leading advantages in fintech with Shenzhen’s strengths in industrial finance, proposing several key measures encompassing areas such as digital finance and technology finance. The target is to implement more than 20 cross-border financial application scenarios based on the Shenzhen-Hong Kong data validation platform by the end of 2027.
The new action plan includes six key measures: First, promoting Shenzhen financial institutions to set up fintech subsidiaries in Hong Kong; second, supporting the joint establishment of fintech incubators in both cities; third, encouraging Shenzhen technology companies to use Hong Kong’s “Biotech Stock Listing Channel” and other facilitative policies for financing in Hong Kong; fourth, encouraging Shenzhen enterprises to issue sustainable offshore RMB bonds in Hong Kong; fifth, promoting continuous innovation in digital RMB application scenarios; and sixth, supporting both cities’ joint participation in the research and application of the “Multiple Central Bank Digital Currency Cross-Border Network” project.