Hengqin uses competitions to build secondary market

Teams of global junior college, university, and postgraduate students, each staked with 10 million yuan ($1.5 million) in virtual capital, will vie for a prize pool of 1.42 million yuan ($211,560) in the 2nd China (Hengqin) International Quantitative Finance Competition.

The biennial challenge is the most prestigious in Hengqin New Area targeting secondary markets in which existing securities, such as stocks and bonds, are bought and sold. The 2017 competition hosted 243 teams consisting of nearly 1,000 students from hundreds of domestic and international institutions.

This year, the competition opened at the 2019 Private Securities Fund Industry Development Conference on April 19 and runs until March 2020. Winners of both regional divisions and the finals will be rewarded.

Launch ceremony [Photo by Su Zhenhua / Zhuhai Daily]

As one event opened, a related one closed. Awards were granted for the 2018 Hengqin Private Placement Binding Offer Competition that is held in interim years. It involved more than 250 private-fund products worth nearly 5 billion yuan ($745 million).

The competitions integrate top-level resources and application platforms in the field of quantitative finance, while at the same time headhunting potential talents. Together they support Hengqin in financial innovation utilizing secondary markets and intelligent quantization technology, said Chi Tenghui, director of the Financial Service Bureau of the Administrative Committee of Hengqin New Area.