Hong Kong and Shenzhen can work closely to empower finance with artificial intelligence, delegates said on Thursday at the China Conference: Greater Bay Area, an event hosted by the South China Morning Post.Joseph Chan Ho-lim, undersecretary for Financial Services and the Treasury in the Hong Kong government, said Hong Kong and Shenzhen were seeking deeper cooperation between finance and technology.Chan said at the event in Qianhai, a bonded zone in Shenzhen, that Hong Kong, as a “superconnector” and “super value adder”, could leverage its strength in financial services to support Shenzhen in technology and industrial finance, with the shared ambition of building “a world-class fintech hub”.
Hong Kong was “actively deepening ties in fintech with our main counterparts, particularly Shenzhen”, he added.
AI and finance can empower each other, says Xiao Ting, chairman and executive director at the Bank of Communications (Hong Kong). Photo: SCMP
“We are also working closely with Qianhai to advance deeper integration between technology and finance across both cities,” Chan said. To do so, Hong Kong would encourage Shenzhen financial institutions to set up fintech subsidiaries in Hong Kong and support Shenzhen technology firms to leverage Hong Kong’s capital market, he added.