Regulatory Alerts2022-02-18
Added · Updated
Launch of Greater Bay Area Fintech Pilot Trial Facility
The HKMA and the People’s Bank of China (PBoC) are accepting applications from financial institutions and technology firms to conduct pilot trials of cross-boundary fintech initiatives in the Greater Bay Area. This facility links the PBoC’s Fintech Innovation Regulatory Facility with the HKMA’s Fintech Supervisory Sandbox, allowing concurrent testing in Hong Kong and GBA cities to obtain early supervisory feedback. Applicants must complete a sandbox application form providing company background, product details, and testing scope, which will be shared with the PBoC and relevant Mainland authorities.
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