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Shenzhen-Singapore-Hongkong Fintech Alliance established

The establishment of Shenzhen-Singapore-Hong Kong Fintech AllianceHong Kong's Internet Professional Association (iProA), the Shenzhen Internet Finance Association and Singapore's FinLab have announced the establishment of the Shenzhen-Singapore-Hongkong Fintech Alliance.

The organizations have signed a memorandum of understanding to implement four common working objectives, including positioning the three cities to capitalize on the rapid development of the fintech field.

The agreement also covers establishing a collaboration platform and information exchange for enterprises in the three cities, strengthening the exchange of information between academic institutions and sharing experiences with fintech development.

Each of the three parties have agreed to hold regular meetings to promote the fulfillment of these objectives.

"The aim of promoting the alliance is to help developing an effective communication mechanism between the fintech professionals in Hong Kong, Shenzhen and Singapore,” iProA president Witman Hung said.

“We expect the alliance can display the respective advantages of the three cities in fintech, thus encourage the in depth exchange, cooperation and development of Fintech among the three cities."

FinLab managing director Felix Tan added that the ideas and businesses emerging from the collaboration will “become the new engines of economic growth and job creation for all of Asia in the years to come.”