Hong Kong, Shenzhen team up for fintech hub plan

The plan ebables Shenzen FIs to establish fintech subsidiaries in Hong Kong.

Hong Kong and Shenzen partnered to build a financial technology (fintech) hub.

The Financial Services & the Treasury Bureau (FSTB) and the Shenzhen Municipal Financial Regulatory Bureau have signed the Action Plan for Jointly Building Hong Kong-Shenzhen Global Fintech Hub (2025-2027), a government announcement said.

The action plan can allow Shenzen financial institutions to establish fintech subsidiaries in Hong Kong and support the two places to jointly develop fintech incubators.

“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,” said Christopher Hui, secretary for financial services and the treasury.

“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.”