TechFlow news, November 20: According to Hong Kong media "Hong Kong Economic Journal," the Hong Kong Financial Services and the Treasury Bureau and Shenzhen Municipal Financial Regulatory Authority jointly released the "Action Plan for Jointly Building a Global Fintech Hub in Hong Kong and Shenzhen (2025–2027)." The plan states that by the end of 2027, over 20 cross-border data verification platform applications in the financial sector will be implemented between Shenzhen and Hong Kong. It aims to promote Shenzhen financial institutions establishing fintech subsidiaries in Hong Kong, drive continuous innovation in digital RMB application scenarios, support joint participation by both regions in research and application of the Multiple Central Bank Digital Currency Bridge (mBridge) project, encourage Shenzhen enterprises to issue offshore RMB sustainable development bonds in Hong Kong, and support the establishment of a green asset development platform based on technologies such as blockchain and smart contracts.
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