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1st Batch of Mainland Personal Loans for HK Residents Disbursed in SZ
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Personal consumer loans for Hong Kong residents, supported by the Shenzhen-Hong Kong cross-border data verification platform, have recently been disbursed in Shenzhen, CCTV reported. This marks a breakthrough in the Shenzhen-Hong Kong cross-border financial pilot. This pilot reportedly utilizes innovative blockchain technology to efficiently verify credit data of Hong Kong residents, effectively addressing the cross-border financing woes wrought by the lack of credit history in mainland China. Three young Hong Kong residents employed in Shenzhen have become the first beneficiaries. The aim of this pilot is to resolve data verification bottlenecks in traditional cross-border financial services through blockchain technology, allowing people living between the two cities to say goodbye to the hassle of proving their identity, and providing convenient, inclusive, and efficient financial services for Hong Kong people and enterprises coming to Shenzhen, the report quoted Liu Rong, Head of Scenario Innovation Business at the Qianhai Branch of ABC (01288.HK), as saying. The report also mentions that this pilot sets a precedent for northbound cross-border verification of Hong Kong residents' credit data, lowering the threshold for cross-border financing for Hong Kong citizens. The next step for the Shenzhen-Hong Kong cross-border data verification platform is to expand into scenarios such as cross-border trade settlement and wealth management, encouraging more financial institutions to participate. AASTOCKS Financial News Website: www.aastocks.com |
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