Guangdong-HongKong-Macao Greater Bay Area Photo: VCG

 

Efforts should be made to promote the development of fintech across the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), specifically in four aspects, an official from the People's Bank of China (PBC) said at a forum on Sunday.

Wang Xin, an official from the People's Bank of China said at the fourth GBA Financial Development Forum on Sunday that the GBA has many advantages suited to the development of a local financial technology sector.

The favorable conditions include strong strength in scientific research and innovation, strong ability to transform and apply scientific and technological achievements into practice and strong overall financial strength, which has laid the foundation for science and technology integration.

Wang suggested that the BGA should promote the high-quality development of fintech with a focus on helping ordinary people, inclusiveness, low-carbon, and the internationalization of yuan, coordinating the development of finance and technology from national design, promoting fintech standards recognized by the whole area, and consolidating regulatory abilities.