Hong Kong Treasury Bureau, Shenzhen Local Financial Supervisory Authority: Encouraging Shenzhen companies to issue offshore RMB bonds for sustainable development in Hong Kong.

On November 19, the Financial Services and the Treasury Bureau of the Hong Kong Special Administrative Region Government, together with the Shenzhen Local Financial Supervision and Administration Bureau, jointly announced the action plan to create a global financial technology center in the Hong Kong-Shenzhen region. Among the initiatives, it proposed to support Shenzhen technology companies in using Hong Kong's "biotech company listing channel," "innovative technology company listing channel," and "technology enterprise express lane" policies to raise funds on the Hong Kong Stock Exchange in accordance with the law and regulations. It also encouraged financial institutions to fully utilize internal and external data and big data technology to create a comprehensive picture of technology companies, thus improving customer screening and marketing efficiency. The plan included the innovation and introduction of more financial products and services that cater to the characteristics of technology companies throughout their lifecycle, as well as advancements in innovative businesses like the "technology startup fast track" and "innovation point loans" to better reach and serve tech startups in their early and growth stages. Furthermore, it encouraged Shenzhen companies to issue sustainable offshore RMB bonds in Hong Kong, as well as supported the establishment of a green asset development platform based on technologies such as blockchain and smart contracts.