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

According to a report by Hong Kong media Xinbao, the Hong Kong Financial Services and the Treasury Bureau and the Shenzhen Municipal Local Financial Supervision Administration jointly issued the "Action Plan for Jointly Building the Hong Kong-Shenzhen Global Fintech Center (2025-2027)," which states that by the end of 2027, more than 20 cross-border data verification platform financial application scenarios between Shenzhen and Hong Kong will be established. It aims to promote Shenzhen financial institutions to set up fintech subsidiaries in Hong Kong, drive continuous innovation in digital renminbi application scenarios, support both regions in participating in various central bank digital currency cross-border network (mBridge) research and applications, and encourage Shenzhen enterprises to issue sustainable offshore renminbi bonds in Hong Kong, while also supporting the establishment of green asset development platforms based on technologies such as blockchain and smart contracts.