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Nansha, Guangzhou accelerates digital asset innovation, Hong Kong and Guangdong deepen fintech cooperation.
Recently, a leading digital asset Financial Service group signed a memorandum of cooperation with the Guangzhou Data Exchange. Both parties, with the support of the government, will promote the construction of an innovative pilot zone for cross-border flow of digital assets in Nansha, Guangzhou, establish a Compliance investor mechanism, and explore compliant issuance channels for data circulation trading and innovative digital asset trading services in the Guangdong-Hong Kong-Macao Greater Bay Area, helping to build a new high ground for digital economy development in the Guangdong-Hong Kong-Macao Greater Bay Area.
This cooperation is a key step for both parties to actively respond to the national strategic deployment and deeply integrate into the development of the Guangdong-Hong Kong-Macao Greater Bay Area. By taking the collaborative development in the field of digital assets as a breakthrough, it aims to promote the deep integration of Hong Kong's financial resources with the technological and industrial resources of the mainland. It will fully leverage the advantages of the mainland's real industry resources and Hong Kong's strengths as an international financial center, which include the gathering of global capital and efficient professional financial services, to form organic linkage and deep complementarity. The two sides will take specific practical cases as entry points to establish a closed-loop system for the digital asset trading rule system between Guangdong and Hong Kong, jointly develop standards related to data circulation and innovative digital asset trading services, and actively cultivate a compliance digital asset service ecosystem.
Through in-depth cooperation between the exchanges in Guangdong and Hong Kong, the ecological system of the digital asset industry, compliance, and trial-and-error iteration paths can be clarified. Based on the clear safety red lines and compliance matters of institutional innovation, anchor the underlying assets on-chain, press the acceleration key for digital asset trading innovation services in the Guangdong-Hong Kong-Macao Greater Bay Area, promote the full-chain development of digital asset projects from creative incubation to industrial landing, and build a digital asset innovation ecosystem with global resource allocation capabilities, thereby comprehensively enhancing the region's strategic position in the global digital economy landscape.
The achievement of this collaboration stems from the recent joint issuance by the People's Bank of China, the Financial Regulatory Administration, the China Securities Regulatory Commission, the State Administration of Foreign Exchange, and the Guangdong Provincial People's Government regarding the "Opinions on Financial Support for the Deepening of Comprehensive Cooperation in the Guangdong-Hong Kong-Macao Greater Bay Area in Nansha, Guangzhou". This opinion proposes to support the Guangzhou data exchange in improving comprehensive services for data circulation and trading, strengthen cooperation and connection with licensed digital asset trading platforms in Hong Kong, and innovate the service methods for digital asset trading.
Since its establishment in Nansha in September 2022, the Guangzhou Data Exchange has built a full-chain data circulation and trading ecosystem that extends "horizontally to cities and vertically to industries." Its services cover 25 industries including smart manufacturing, finance, and health care, with 14 data integration application service bases established nationwide. As a key node for the circulation of data elements in the Guangdong-Hong Kong-Macao Greater Bay Area, it deeply explores cross-border two-way data circulation mechanisms. Relying on the "Data Special Zone," it promotes the cross-border flow of data elements and has facilitated the "offshore trade" of cross-border data products to complete the data asset entry work, helping Guangzhou achieve a "zero" breakthrough in cross-border data asset entry. It has also promoted the transaction of "ESG rating data" with partners located in Hong Kong, assisting in the country's first ESG-related cross-border transaction.
The signing of this memorandum of cooperation marks an important step in the deep cooperation between Guangdong and Hong Kong in the field of digital assets, promising to inject new momentum into the development of the digital economy in the Guangdong-Hong Kong-Macao Greater Bay Area.