On August 22, 2023, a press conference for the "Digital Economy and Financial Development Forum" – co-hosted by Invest Hong Kong, Guoxin Asset Management Co., Ltd. ("Guoxin"), Yucheng Asset Management Co., Ltd. ("Yucheng"), and China Financial Information Service – was held in Hong Kong.

At the conference, Guoxin and Yucheng announced their strategic cooperation. Combining their respective experience and advantages in the digital economy and asset management sectors, the two parties will start from underlying technologies to drive technology-enabled wealth management and explore new industry business opportunities for the Guangdong-Hong Kong-Macao Greater Bay Area.

“In recent years, the digital economy has witnessed explosive growth and transformation, and fintech has driven unprecedented progress across various industries. The market recognizes the enormous potential of the digital era and has a strong demand for emerging asset management models,” Mr. Leung said. He added that the two parties will jointly develop and provide advanced digital asset solutions for individual and corporate investors in Hong Kong, thereby benefiting the entire fintech ecosystem of the Guangdong-Hong Kong-Macao Greater Bay Area. He also revealed that the Hong Kong government is taking multiple measures – in the field of art trading alone, it will promote Hong Kong International Airport to become the world’s second-largest art auction center after New York, with all transactions completed through digital trade.

As an active offshore RMB center, Hong Kong is a key hub connecting the Chinese mainland and international markets, and has unique advantages in integrating resources from Guangdong, Hong Kong and Macao to develop digital finance. Against the backdrop of the government’s high emphasis on technological innovation, Hong Kong provides support in multiple areas such as resource pilots and regulatory policies. This supports the balanced and dynamic development of financial innovation and risk control management, creating broad development space for local enterprises in the digital finance sector.

“The strategic cooperation between Guoxin and Yucheng can achieve complementary advantages. Relying on Yucheng’s leading technology in the digital platform industry and rich experience in wealth planning and management, and combining our market advantages and outstanding performance in the Chinese mainland and the Greater Bay Area, we will jointly achieve efficient management of digital assets, ensuring scalability, security and maximization of client returns,” Mr. Jiang Nan, Director of Guoxin Asset Management, shared his strategic outlook on asset management regarding the cooperation. He also stated that the company will be committed to providing comprehensive solutions for clients, empowering asset management through fintech, adapting to development opportunities in the new era, and supporting the country and the government in building Hong Kong into a world-class digital financial city.

“We are very pleased to cooperate with Guoxin. Leveraging our expertise in cutting-edge technologies, we will design and launch secure and high-yield wealth management products for Guoxin,” said Mr. Liu Furong, CEO of Yucheng Technology & Finance (279.HK). He emphasized that Yucheng has always maintained enthusiasm and innovation for digital asset allocation and the development of digital economy infrastructure. By utilizing technological innovations such as artificial intelligence, blockchain, cloud computing, and big data, and combining them with scenario-based applications, the company will build new financial business models for digital asset payment, financing, investment, and insurance.

Mr. Liu further noted that digital finance will help address the shortcomings of traditional financial services and reduce the thresholds and costs of financial services. As a licensed financial institution in Hong Kong, Yucheng stressed the compliant application of digital technologies. Through data collaboration and integration, it will build an intelligent financial ecosystem to provide clients with personalized, customized, and intelligent precision asset management services. Together with Guoxin, Yucheng will explore business opportunities in the "blue ocean market" of sci-tech finance in the new era.