Hong Kong and Shenzhen plan to jointly build a global fintech center and support the establishment of a green asset development platform based on tech...

On November 20, according to the Hong Kong Economic Journal, the Hong Kong Financial Services and the Treasury Bureau and the Shenzhen Municipal Financial Regulatory Bureau jointly released the "Action Plan on Jointly Building a Hong Kong-Shenzhen Global Fintech Center (2025-2027)". The plan points out that by the end of 2027, more than 20 application scenarios of the Shenzhen-Hong Kong cross-border data verification platform in the financial field will be implemented, Shenzhen financial institutions will be encouraged to establish fintech subsidiaries in Hong Kong, the application scenarios of digital RMB will be continuously innovated, and the two places will be supported to jointly participate in the research and application of various central bank digital currency cross-border network (mBridge) projects. At the same time, Shenzhen enterprises are encouraged to issue sustainable development offshore RMB bonds in Hong Kong, and the establishment of a green asset development platform based on technologies such as blockchain and smart contracts will be supported.