2019年大湾区金融科技报告（英文版）.pptx

,Powering Hong KongsFinTech Community,The GBA Fintech Report 2019Hong Kong- Macau-Guangdong Greater Bay Area Fintech Analysis & Recommendations,April 2019,PoweringFinTech Community,FTAHK is an independent, not-for-profit, member-driven organisation representing Hong Kongs local and global FinTech co mmuni ty.We are organised and led by the community, for the community.Advo cateCo lla bo rateEd uca te,HONG KONG MACAU GUANGDONG GREATER BAY AREA (GBA) FINTECH ANALYSIS,3,The Greater Bay Area (GBA) initiative is a plan to build a world-class city cluster linking Hong Kong, Macao and 9 cities in the Guangdong Province. The aim of the GBA initiative is to create a bay area economic cluster in Southern China capable of competing, and even overtaking, similar economic zones around the world such as the San Francisco Bay Area, the Greater New York and Greater Tokyo.,040506070809,WhitepaperIntroductionCities of the GBAFintech Goals for the GBAExecutive Recommendation: Inter-Association GBA Fintech AssociationsGBA Blueprint Summary & RecommendationsSupporting AnalysisGBA OverviewFintech Companies and Projects of the GBA Policy & Regulatory InitiativesCapital Markets & FundingSupporting Ecosystem,2031404853,Purpose of This ReportThe GBA is now a major global hub for business, innovation, and technology yet still remains relatively opaque to the outside world.This analysis maps out the GBA, its cities, and policies in relation to Fintech, including the PRC Blueprint. The aim is to advocate, collaborate, educate, and differentiate the area from other major economic zones, and make recommendations for future industry development.Useful LinksBay Area HK Government: bayarea.gov.hk/en/home/index.htmlGBA Blueprint: bayarea.gov.hk/filemanager/en/share/pdf/Outline_Development_Plan.pdf,INTRODUCTION,BeijingTianjin,Suzhou Shanghai,Wuxi,Hangzhou,Shenzhen,Zhuhai Hong Kong,Guangzhou,Dongguan,Ningde,GREATER BAY AREA,Wuhan Chongqing,The Greater Bay Area (GBA) has the potential to lead the world in finance and technology.This unique geographical region, which consists of 11 major cities that make up the PearlRiver Delta, is at the forefront of Chinas policy of opening up.The economy of the GBA is currently larger than that of Australia and by 2030 it will be theworlds foremost metropolitan bay area, overtaking Tokyo, New York and San Francisco.It is a region of unrivalled potential, a hotbed for Fintech innovations such as mobile payments, blockchain, big data, and artificial intelligence.The area boasts Hong Kongs international financial system; Chinas abundant source of human capital and booming consumer marketplace and, alongside Fintech associations and consortiums, world leading universities, research institutes and world class infrastructure.,4,The Outline Development Plan for the Guangdong- Hong Kong-Macao Greater Bay Area (GBA Blueprint), seeks to promote closer cooperation between the GBA region. This will need the Area to come up with solutions for differing political systems, tax and legal frameworks, movement of people & goods, and to help increase ease for operating a Fintech company.If implemented judiciously, the opportunity is enormous. The promotion of cross-border initiatives, collaboration and integration across the whole of the GBA is critical both for turning the region into a global Fintech powerhouse and for the future success of Hong Kong in general.,CITIES OF THE GBA,Zhaoqing,Foshan,Zhongshan,Macao,International B2B Fintech hub, IP protection, research and development,Size Comparison: DallasGDP: $341bnPop: 7.4m,Area: 1,106km2,Shenzhen,Dongguan,Guangzhou,Hong Kong,Technological Development and RetailCommercialization of Fintech for China,Size Comparison: LondonGDP: $332bnPop: 12.5mArea: 1,997km2Special Administrative Region, Leading Financial Capital, Strong Legal System, International Business and Foreign Investment, Logistics, Cultural Hub,Electronic Manufacturing, Furniture, Homeware,and Ceramics hub.,Moderate Role in Fintech,GDP: $141bn,Size Comparison: ChicagoPop: 7.66mArea: 3,798km2,Special Administrative Region, Tourism. Platform for trade with Portuguese speaking nations.,Small Fintech Influence,Size Comparison: VeniceGDP: $50bnPop: 0.7m,Area: 31km2,ZhuhaiSpecial Economic Zone, Tourism and Entertainment,Fintech and Finance Ambitions,Size Comparison: BarcelonaGDP: $38bnPop: 1.8m,Area: 1,736km2,Regional Political Centre, Major Trade Hub, Manufacturing and Finance.Large Consumer Population, Political Power, Blockchain policy development,Size Comparison: Los Angeles GDP: $318bnPop: 14.5m,Area: 7,249km2,HuizhouSite of petrochemical industries, as well as a hub for developing Information Technology.,Small Fintech Influence,Size Comparison: TorontoGDP: $57bn Pop: 4.8m Area:11,347km2,The city has a large agricultural sector and thrivingcommodity sector.Small Fintech Influence,GDP: $33bn,Size Comparison: BerlinPop: 4.1mArea: 14,891km2,Small Fintech Influence,Size Comparison: BostonGDP: $40bnPop: 4.5m,Area: 9,505km2,Mid sized city named after Sun Yat Sen. Midpointbetween Guangzhou and Macao,Small Fintech Influence,GDP: $51bn,Size Comparison: SeattlePop: 3.6mArea: 1,784km2JiangmenSecond largest river port in Guangdong. Heavyindustries, petrochemicals and machinery.,Important industrial city. Manufacturing of electronics and communications equipment. 4th largest Chinese city exporter,Moderate Fintech Influence,Size Comparison: SeoulGDP: $112bnPop: 8.3mArea: 2,460km2Special Economic Zone, Leader in Technological Innovation, Domestic Finance, Hardware, International Trade and Shipping,Source: HKTDC Research,5,10 FINTECH GOALS FOR THE GBA,6,Implement a System for Cross-Border Digital ID.Make Cross-Border Payments Faster and EasierUsing Digital Technology.Create a National and Regional Level AI Strategywith Guidelines for Ethical Use of AIEstablish a GBA Communication Mechanism for Financial Regulation to Support Mutual Financial Markets Access and In-Depth Fintech Collaboration.Put in Place a Standardised GBA Wide Trade Finance Blockchain Platform.,Establish a GBA Wide Marketing Department to Attract Business and Investment, and Promote the GBAs Businesses.Launch a Wealth Management and Insurance Connect so businesses can sell products in each others markets.Increase Freedom of Movement for Businesses.Subsidise Office Space for Fintech and Tech Start-Ups.Research a GBA Business “e-residency” System Similar to Estonias to Allow International Firms to Remotely set up in Hong Kong and Access the Benefits of the GBA.,RECOMMENDATION TO CREATE AN INTER-ASSOCIATIONCOLLABORATION GROUP,7,We recommend the establishment of an official Inter-Association Collaboration Group to advocate the GBA Fintech industry and policy to help facilitate the change needed across the GBA and promote the region as a Global Fintech Centre.We have identified the main GBA Fintech Associations on the next page in this report to engage and work with to create the cross-border collaboration group.The purpose of the new collaboration group is to:Work together with other associations and universities across the GBA to create policy recommendations for cross-border integration and collaboration.Analyse the key, feasible cross-border initiatives necessary to develop the region into aFintech powerhouse.Engage the key Fintech participants and companies on both sides of the border.Collaborate with regional governments, regulatory bodies and other decision makers for change.Promote the GBA as a global Fintech player to attract companies and investments.,8,GBA FINTECH ASSOCIATIONS,We highlight these important GBA Fintech Associations for the formation of an Inter-Association Collaboration Group,GBA BLUEPRINT SUMMARY & RECOMMENDATIONS BY FTAHK COMMITTEES,The GBA Fintech Report 2019,The GBA Blueprint was released by the government on the 21st of February and it provides a framework for how the nine cities across Guangdong, Hong Kong and Macau are expected to work together across various industry segments.,Blueprint SummaryEmphasize applications of Artificial Intelligence,10,&Big,energy,Dataintheareasoftransportation, city&communitymanagement,manufacturing and environmental protection.Collaboration along the “Guangzhou-Shenzhen- Hong Kong-Macau” innovation and technology corridor with a joint development of a Greater Bay Area big data centre.Propose a “new smart city pilot demonstration” to advance its agenda on building smart city clusters with the development of a national big,data integrated pilot zone.,FTAHK Recommendations to BusinessDevelop a strategy in line with GBA digital policies using AI & Big Data. To fully maximum benefit from future digital investments, companies need to align their digital strategies and operating model with GBA data policies and leverage opportunities of the GBA big data centre.Designate “pilot/demonstration zones” and smart city cluster concepts to enable the region to better embrace and sharing of appropriate digital resources and data for the benefit of the public.Build partnerships within the value chain of the emphasized verticals to create future digital ecosystems leveraging of the strengths of Hong Kong and Shenzhen in Financial Services and Innovation respectively.,AI & BIG DATA,Blueprint Summary,11,infrastructure with secure communication which,isprotectedbyrealtimesurveillance,notification and response.,Putinplacea,defence system”.,Recognisethe,importanceofregulatory,alignment with international communities.Speed up the establishment of a social credit,systemintheninePRDmunicipalitieswith,referencetotheHongKongandMacao,experiences in establishing credit systems and explore the joint implementation of incentives and penalties for credit fraud for enterprises in the GBA.,FTAHK Recommendations to Business,Establishaninformationtechnology ,“comprehensivecybersecurity ,Establish a more robust digital security ecosystem by clearly positioning their business requirements and identifying established key security partners/processes early.Enable secure exchange of data to enable RegTech, thereby helping protect from financial crimes and enhance regulatory compliance.Hong Kong & Macao businesses need to understand and comply with PRC cybersecurity laws when dealing with Guangdong businesses & individuals.,REGTECH AND CYBERSECURITY,financialproductsineachothersmarkets.,12,Blueprint SummaryHongKongandShenzhenmarketswillbe enhanced and progressive cross border financial market access will be promoted.Support Shenzhen in developing a capital market with the Shenzhen Stock Exchange as its core in accordance with relevant regulations,andexpeditetheprocessoffinancial ,Hong Kong to further enhance its position as a leading international finance centre and function as the main capital raising hub for the whole of the GBA. The plan seeks to support Hong Kongs institutional investors in raising RMB funds in the capital markets of Hong Kong.Develop a regional private equity trading market,andestablisharegionalcentreforequityand,liberalisation and innovation.Facilitatewidercross-bordersalesofmutual funds, and other wealth management products, and steadily expand the channels for Mainland and Hong Kong residents to invest in and access,commodity trading.Hong Kongs private equity funds will be supported to finance innovation and technology enterprises in the Greater Bay Area. The eligible enterprises will also be allowed to secure listing in Hong Kong for capital financing.,WEALTHTECH (1 of 2),FTAHK Recommendations to BusinessHong Kong Fund managers should prepare themselves to launch products in Guangdong, where they can now promote & benefit from cross-border fund sales.The size the GBA market is vast and a conventional bricks and mortar approach would be too expensive. For regional asset managers to sell across the GBA, they would need to rely on innovation and tech-driven connectivity.Fintech solutions can overcome the challengesof scaling a business across the GBAs borders.,13,Granting of virtual banking licenses in Hong Kong will open up potential opportunities for Mainland Chinese TechFin firms to sell wealth management products to their deposit.Fintech companies across the region should position themselves to help banks and asset managers build new product lines and methods of client engagement across the GBA.GBA startups firms will be able to take advantage of Hong Kongs expertise in financial services and exploit the broader Fintech opportunities.,WEALTHTECH (2 of 2),Blueprint Summary,14,reasonablelayoutforregionalinnovationand,Createan,“internet + government services” and address the problem of information silos.,Buildanetworkserviceplatformforcross- boundary economic and trade cooperation.,FTAHK Recommendations to Business,Build the GBA into a hub of global tech innovation and an important source of emerging industries.Develop an open and interconnected system with,Blockchain has the potential to change the architecture of web services, and change the structure of network economies, which will enable many new types of networks and business models.,developanewgenerationofinformation ,Use of blockchain for trade finance and e-trade connect between mainland with Hong Kong and Macao.,infrastructure.Pursue the development and growth of new pillar industriesincludingnew-generationinformation technology.Improve the traceability system for the origin offood among Hong Kong, Macao and the Mainland.,innovativenewservicemodelof ,Use of blockchain applications can reduce friction and transaction costs between buyers, sellers, and service providers in complex value chains. This includes supply chains for energy, food, equipment, raw materials, and more.Blockchain could also be used more broadly to create a fully functioning digital economy by assisting with,regulation.Forexample,creatingapermissioned,value transfer system that addresses capital controls,wouldprovideanextraordinaryopportunityto,develop a fully integrated Greater Bay Area.,BLOCKCHAIN / DLT,Blueprint SummaryHong Kong cemented as a risk management centre.Hong Kong enhanced as a maritime hub, including relevant insurance and related activities.Develop the Shenzhen pilot zone for insurance innovation.Support joint development by insurance institutions in GBA for innovative and cross- boundary motor vehicle and medical insurance product and provide facilitation services such as,15,underwriting,investigationandclaimsfor,