The Shenzhen Municipal Monetary Authority announced that it plans to create more than five digital finance-focused parks and feature buildings throughout the city next year to promote the development of the digital finance industry. The region also encourages financial firms to work with companies such as Tencent (00700.HK) and Huawei to promote the application of advanced technologies such as AI large models in finance.

In addition, Shenzhen pointed out that the Fintech Institute has played an important role in promoting cross-border payments of digital renminbi and international business center construction, plans to support major projects such as the multi-central bank digital currency bridge, and establish an innovative space for digital renminbi applications. (vc/u)

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