Futian eyes global fintech hub

Futian has set its sight on becoming a financial technology center in five years, and plans to spend big on fintech applications, a senior district government official said.

"We aspire to turn Futian district into a global fintech center within five years. We will contribute 10 million yuan ($1.5 million) each year in support of the applications of fintech," He Jie, vice-head of the Futian district government, told the 4th FinTech CEO Annual Summit and Investment Forum 2017 in Shenzhen on Nov 24.

The event brought together entrepreneurs to discuss the important role innovation plays in the finance and technology sectors. He said Futian's district government had rolled out a specific policy in March this year to support the development of fintech.

"We will also provide 1,000 internships for fintech companies," he said, without giving more details.

Apart from the policy, the district government has taken various measures to help the fintech industry prosper in Futian.

"Firstly, Futian intends to set up a venture capital fund worth 10 billion yuan. Secondly, we have hired 30 local and foreign experts to form a special committee for a series of research topics.

"So far, the fintech ecosystem has been basically set up in Futian. Next, we will create a green finance demonstration area," He said.