Companies queue up for Hengqin 'smart' finance park

Eleven companies, including GF Securities and Honebay Fintech, agreed on Oct 17 to be part of Hengqin Smart Financing Industrial Park, which opened the same day at Macao-Hengqin Youth Entrepreneurship Valley (Inno Valley HQ).

The industrial park is a complex for fin-tech and emerging finance, as well as for academic research. It will host investment to angel capital, wealth management, financial technology, training, and third-party finance services.

The goal is one-stop service for Guangdong-Hong Kong-Macao Greater Bay Area enterprises engaged in cloud computing, big data, artificial intelligence, and block chain.

Unveiling ceremony

Ants Capital, Yusys Technologies, and Hengqin Innovation Financial Academy will relocate to the park.

Inno Valley HQ is an innovative industrial base and talent accumulation center for youths from both Macao and the Chinese mainland. It was the first State-level sci-tech enterprise incubator in Hengqin New Area.

Signing ceremony

A plaque was unveiled for the Preparatory Office for Macao's Featured Financial Service Base during the signing ceremony, expressing a commitment to promote industry development via the use of regional resources and advantages.

From 2009 to 2017, the value added of Hengqin's financial industry increased from 300 million yuan ($47 million) to 2.23 billion yuan ($350 million) with an average annual growth rate of over 71 percent. According to the Administrative Committee of Hengqin, 6,000 financial enterprises were located there last year compared to just one in 2009.

Stock trading room at finance-focused industrial park [Photos by Gao Song & Dai Danmei/Zhuhai Daily]