Delegations from HKMA and Shenzhen's Financial Services Office visit Ping An Technology

SHENZHEN, China, June 12, 2017 /PRNewswire/ -- A delegation led by Hong Kong Monetary Authority (HKMA) chief executive Norman Chan recently visited the Shenzhen Municipal Government Financial Services Office (SZFSO), in a move to gain an insight into the application of FinTech and the latest advancements across Shenzhen's FinTech sector as well as to explore partnerships between Hong Kong- and Shenzhen-based banks and financial institutions. The delegation together with a delegation from SZFSO then visited Shenzhen FinTech industry leader Ping An Technology, where the unit's CEO Ericson Chan gave the two delegations a brief presentation on their achievements in the development of innovative FinTech products.

During the presentation, Mr. Chan reviewed Ping An's history of how the firm established and developed its FinTech business as well as showcased the highlights of the technologies used for its proprietary products and platform architecture. Ping An's success in and Ping An Technology's contributions to the development of the financial industry were highly acclaimed by the two delegations. The group also engaged in a spirited discussion on several hot topics, including how traditional finance could be transformed via FinTech. Subsequently, Mr. Chan led the guests on a tour of the firm's technology showroom, which showcases Ping An's technological research and leading practices in FinTech. The guests said they were impressed with what they saw and expressed their interest in Ping An Technology's R&D outcomes.

With the visit, HKMA and SZFSO plan to strengthen the cooperation between Hong Kong and Shenzhen, in an effort to create a better environment for banks and financial institutions to leverage FinTech. Ping An Technology will provide full support for the following cooperation projects:

• SZFSO was invited by HKMA to hold the FinTech Summit in the second half of this year in Hong Kong with the aim of boosting the exchange and cooperation between FinTech stakeholders in the two cities. Ping An Technology will be named as a member of the summit.

• HKMA and SZFSO will sign a memorandum of understanding with major FinTech companies in Shenzhen. According to the memorandum, Ping An Technology will provide trainees from Hong Kong with an internship opportunity.

HKMA's Mr. Chan said, "Hong Kong and Shenzhen each have their own advantages in the development and application of FinTech. As an international financial hub, Hong Kong is home to leading multinational financial institutions and has a sound and effective financial infrastructure, laying a solid foundation for the development of FinTech. Similarly, many well-known domestic and international technology firms with leading talents have been brought together in Shenzhen. Strengthening the cooperation between Shenzhen and Hong Kong will help achieve a win-win by complementing each other's advantages." 

Mr. Chan noted, "As the global FinTech sector continues to grow rapidly, it behooves the Chinese government to provide support in terms of the regulatory environment, talent training and financing to boost the development of the sector. Ping An Technology, an iconic company focusing on technological innovation and development in Shenzhen, will support and align itself with the government's policies, with the aim of capitalizing on innovative FinTech solutions in response to the growing needs of the financial market. To do so we plan to expand on our new business model, further the application of new technologies as well as roll out new products and services. We will continue to assist in building a sound FinTech ecosystem that can be expected to transform Shenzhen and Hong Kong into powerhouses of the modern financial industry."

About Ping An Technology

Founded in 2008, Ping An Technology is a wholly-owned subsidiary of Ping An and is headquartered in Shenzhen, China, with divisions in Beijing, Shanghai, Chengdu, Nanjing and Xi'an. The company has more than 4,000 IT technologists and IT management professionals. The establishment of Ping An Technology was a milestone in the IT sector for Ping An, serving as the announcement of Ping An's foray into the professional IT market and initiating a period of exploration that it refers to as "Technology Leads Finance".

Over the next few years, Ping An Technology, as the high-tech core business and key growth driver of Ping An, will implement the "Technology Leads Finance" roadmap, developing mobile web, cloud and big data applications. Ping An Technology plans on taking the lead in exploring new internet-based business models, by building a leading IT organization, creating a foundation to support the core business, and innovating in collaboration with all business units across the parent company.

SOURCE Ping An Tech