The starting area of the Guangdong Digital Finance Innovation Industrial Park, the first of its kind in China, was recently put into operation in Guangzhou's Tianhe district.

The industrial park will become a gathering place for the digital finance industry in the Guangdong-Hong Kong-Macao Greater Bay Area, and will undertake the functions of promoting industrial digitization, the digital transformation of financial institutions, and digital financial innovation.

The opening ceremony is held for the starting area of the Guangdong Digital Finance Innovation Industrial Park in Tianhe. [Photo/WeChat account: tianhefabu]

Its construction will be divided into two stages: the starting area, and the industrial park located in Guangzhou International Financial City.

The starting area will focus on the introduction of digital finance-related accelerators, industry associations, national and provincial key digital finance institutions and their joint R&D centers and laboratories. Three main functional areas will be built here, namely the digital finance technology innovation experience center, the digital inclusive finance service area, and the industrial digital finance development zone.

The construction of the industrial park in Guangzhou International Financial City is scheduled to start within 2023. It will cultivate and introduce a number of digital finance enterprises, industrial finance enterprises, futures industry chain enterprises, and digital finance R&D institutions to become a core area for digital finance innovation and development in Guangzhou.

Ni Quanhong, deputy director of the Guangdong Financial Supervisory Authority, said that the Guangdong Digital Finance Innovation Industrial Park is a good start to promote the coordinated development of digital finance and local finance.

It should strengthen basic financial services and digital finance innovation, as well as cultivate leading financial enterprises so as to improve the high-quality development of finance in Guangdong, Ni added.