Hong Kong FSTB and Shenzhen Local Financial Authority to Promote Establishment of Fintech Subsidiaries by Eligible Financial Institutions in Hong Kong

Deep News
Nov 19

On November 19, the Hong Kong Financial Services and the Treasury Bureau (FSTB) and the Shenzhen Local Financial Authority jointly released the "Action Plan for Building a Global Fintech Hub in Hong Kong and Shenzhen (2025-2027)." The plan highlights support for fintech companies in achieving technological exports. It aims to facilitate eligible financial institutions in legally establishing fintech subsidiaries in Hong Kong to undertake global financial institutions' data processing, customer service, and IT support operations, thereby building a global fintech headquarters.

Additionally, leveraging the Fintech Global Expansion Alliance, the plan proposes establishing a mechanism for experience sharing and comprehensive solutions. It encourages financial institutions to collaborate with fintech firms to expand into international markets, jointly addressing the digital transformation needs of financial sectors in Belt and Road Initiative countries and other regions. Regular experience-sharing sessions and exchange activities will be organized to foster cooperation.

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