Digital transformation in Guangzhou’s financial industries

The Guangzhou Municipal People’s Government has launched the “Guangzhou Digital Economy High-Quality Development Plan,” aimed at accelerating the digital transformation of financial industries in the region. This plan supports advancements in banks, securities, insurance, futures, and funds, fostering innovative and diverse digital finance platforms. Key initiatives include the development of cross-border finance, technology finance, and green finance, alongside the promotion of digital RMB applications. The plan also focuses on establishing the Guangdong-Hong Kong-Macao Greater Bay Area Digital Finance Science and Technology Innovation Center and the Guangdong Digital Finance Innovation Industrial Park. These efforts aim to upgrade trading platforms such as the Guangdong Equity Trading Center and “enhance financial risk monitoring through technological advancements,” municipal authorities said.