Hong Kong and Shenzhen, two neighboring cities, have "joined forces" to become influential international financial centers, a rarity on a global scale. In the latest 38th Global Financial Centers Index report, HK and Shenzhen rank first and second in the fintech category, making them "twin stars" in the global fintech landscape. In this video, Dr. Yu Lingqu, Director of Financial Development and SOE Research Department at CDI, will tell us more.
Analyzing the reasons for this development, Yu believes there are three main supporting factors. First, national strategy leadership. This has directed financial institutions toward digital transformation and the widespread application of digital currency, providing a clear direction and goal for HK and Shenzhen to advance into the forefront of fintech.
Second, core element support. Yu pointed out that in the new wave of financial intelligence, China has mastered key technologies such as AI chips, AI large models, and AI databases, all of which are fully independent. This has led to a high concentration of talent and capital focused on financial intelligence, allowing HK and Shenzhen to ride the "Chinese wave" in fintech innovation.
Third, complementary advantages. Yu stressed that HK's development of fintech boasts advantages such as institutional innovation, international alignment, sound regulation, and diverse scenarios. Shenzhen, on the other hand, benefits from a developed technology industry, breakthroughs in cutting-edge technologies, and a concentration of financial institutions, fostering a vibrant environment for fintech innovation and entrepreneurship.
Related News:
CDItalk | HK strengthens its global financial centre status in GFCI 38
Comment