Shenzhen Issues Draft for Public Comment on High-Quality Development of Digital Finance, Strengthening Fintech Cooperation with Hong Kong and Macao
Publication Time:2024-09-12 13:41:08
The Shenzhen Municipal Local Financial Regulatory Bureau recently issued the 'Opinions on Supporting the High-Quality Development of Digital Finance in Shenzhen (Draft for Public Comments)'. The document proposes several measures to promote the development of digital finance. It emphasizes city-level collaboration to jointly advance the construction of a digital RMB application demonstration zone. Meanwhile, it plans to promote the construction of digital RMB cross-border payment and international business centers, orderly expanding cross-border payment scenarios, and strengthening international exchanges and cooperation. Leveraging the connectivity mechanisms such as the People's Bank of China's FinTech Innovation Supervisory Tool, the Hong Kong Monetary Authority's FinTech Supervisory Sandbox, and the Macao Monetary Authority's Innovative FinTech Trial Projects, under the premise of risk control, it supports expanding the application scope and encourages regulatory technology projects to enter the testing phase. Additionally, the document suggests strengthening linkage and cooperation with international events like the Hong Kong Fintech Week to enhance Shenzhen's reputation in the field of fintech. By leveraging organizations such as the Shenzhen-Hong Kong-Macao Fintech Alliance, Shenzhen will engage in closer fintech internship program collaborations with Hong Kong and explore and improve cooperation and exchange mechanisms in the field of fintech with Hong Kong and Macao to jointly promote the development of the fintech industry.
cross-border payment
High-Quality Development
Digital Renminbi
Digital Finance
International Business Center