Four fintech industry organisations from Hong Kong and mainland China have formalised a strategic partnership aimed at deepening collaboration and integration across the Greater Bay Area and the wider fintech sector.
Regional cooperation
The agreement brings together the FinTech Association of Hong Kong, the Zhongguancun Fintech Industry Development Alliance from Beijing, the Shenzhen Fintech Association, and the Suzhou Association for International Cooperation and Development of Technology and Finance. Together, these organisations have committed to a structured framework for joint efforts in the development and application of financial technologies.
According to the alliance, the partnership is designed to accelerate technological development through cooperation on joint research, knowledge exchange, and talent development programmes. The agreement will also support market access for fintech firms seeking to grow within and beyond the Greater Bay Area.
Industry support
The strategic understanding was endorsed by financial industry authorities present at the signing. Mr. King Leung, Global Head of Financial Services, Fintech, and Sustainability at InvestHK, and Mr. Victor Yim, Head of AI and Data Science at Cyberport, attended the signing ceremony.
The parties intend the formal collaboration to foster closer cross-border connections between industry, private sector, and government entities, aiming to support fintech startups and mature firms looking to scale regionally.
Market access
The agreement places special emphasis on facilitating market access for companies seeking to expand operations across the involved regions. By setting up regular exchanges and collaborative initiatives, the alliance expects to lower barriers for fintech companies navigating diverse regulatory environments and business cultures across Greater China.
The collaboration will also address workforce needs by launching talent development initiatives. These programmes are expected to address skill gaps in developing and deploying financial technologies, particularly in fields such as artificial intelligence and data management.
Joint research
Shared research projects are another focus of the new partnership. The members plan to conduct joint studies and co-organise events to advance knowledge and application of financial technology across different jurisdictions. The goal is to spread best practices and spur wider adoption of digital tools within the region’s financial services sector.
Knowledge exchange
The MOU also establishes channels for regulatory dialogue and knowledge exchange between the member organisations. These mechanisms are intended to build a steady flow of expertise and up-to-date information, aligning standards and expectations across borders.
“The signing of this four-way MOU marks an important milestone in strengthening our connection with the Chinese mainland fintech ecosystem,” said Ms. Lareina Wang, Chair, FinTech Association of Hong Kong.
