The Hong Kong Monetary Authority (HKMA), the People’s Bank of China (PBoC), and the Monetary Authority of Macao (AMCM) have signed a Memorandum of Understanding (MoU) to deepen fintech innovation supervisory cooperation in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). The MoU establishes a network that connects the PBoC’s Fintech Innovation Regulatory Facility, the HKMA’s Fintech Supervisory Sandbox, and the AMCM’s Regulatory Requirements for Innovative Fintech Trials. This network will serve as a one-stop platform for cross-boundary fintech initiatives, facilitating pilot trials and enhancing fintech supervisory cooperation across the three regions.
Resource: https://www.hkma.gov.hk/eng/news-and-media/press-releases/2023/11/20231109-4/