The Financial Services and the Treasury Bureau of the Hong Kong Special Administrative Region Government and the Shenzhen Local Financial Authority recently jointly released the "Action Plan for Building a Global Financial Technology Center in Hong Kong and Shenzhen (2025-2027)", leveraging the advantages of financial technology between Shenzhen and Hong Kong to jointly build a global financial technology center. This action plan includes: promoting Shenzhen financial institutions to establish fintech subsidiaries in Hong Kong; Support the joint construction of financial technology incubators between the two regions; Encourage Shenzhen technology companies to use convenient policies such as the Hong Kong "Biotechnology Company Listing Channel", "Special Technology Company Listing Channel", and "Science and Technology Enterprise Special Line" to raise funds in Hong Kong; Encourage Shenzhen enterprises to issue sustainable offshore RMB bonds in Hong Kong; Promote continuous innovation in the application scenarios of digital RMB; And support the joint participation of the two regions in the research and application of the "Cross border Network of Multiple Central Bank Digital Currencies" project. The Secretary for Financial Services and the Treasury of the Special Administrative Region (SAR) Government, Mr. Hui Cheng yu, stated that the SAR Government attaches great importance to the development of financial technology, and the level of financial technology has been ranked first in the world in the latest Global Financial Centre Index report. This action plan combines Hong Kong's leading advantages in the field of financial technology with Shenzhen's strengths in industrial finance, proposing multiple key measures covering digital finance, technology finance, green finance, inclusive finance, and pension finance, to further expand and deepen financial technology cooperation between the two places. Xu Zhengyu said that the Finance and Treasury Bureau will work together with financial regulatory agencies and the Shenzhen Local Financial Management Bureau to actively implement various measures in the action plan, and jointly promote the high-quality development of financial technology in the Guangdong Hong Kong Macao Greater Bay Area. The goal is to implement over 20 financial application scenarios for Shenzhen Hong Kong cross-border data verification platforms by the end of 2027, with the aim of further consolidating and enhancing Hong Kong's position as an international financial center and assisting Shenzhen in building a globally influential industrial financial center. Liang Haiming, a Hong Kong economist and director of the Silk Road Smart Valley Research Institute, believes that this plan will not only help deepen the synergy between the financial technology fields of the two regions, but also promote the high-quality development of financial technology in the Guangdong Hong Kong Macao Greater Bay Area. Hong Kong has formed a close cooperative relationship with mainland cities in the process of jointly building the Greater Bay Area, achieving a win-win situation by sharing benefits and jointly addressing challenges. (New Society)