Financial innovation, fintech awards unveiled

Writer:   | Editor: Stephanie Yang  | From:  | Updated: 2019-06-17

Fifty-two projects have been unveiled for the city’s financial innovation award for 2018 and 14 were unveiled for the financial technology special award, according to the city’s financial affairs office.

The list for awards has been published for public notification.

Of the 52 projects, five of them will earn the first prize worth 1 million yuan (US$145,100), including a project called zaixianyipiaotong, which was developed by the Shenzhen bureau of China Merchants Bank for small enterprises, an investment and financing service platform for innovation and entrepreneurship by Shenzhen Stock Exchange, an RMB asset cross-border trade platform by and a smart video claim settlement platform by Ping An Property.

It is worth noting that a cross-bank financial transaction supervisory system by the Shenzhen bureau of the China Insurance Regulatory Commission and a private equity supervisory system by the Shenzhen bureau of China Securities Regulatory Commission were selected for a promotional award with a prize of 1 million yuan, according to the Southern Metropolis Daily.

The 14 projects selected for the financial technology award include a new-generation security registration and depository system from Shenzhen Stock Exchange and a financial block-chain platform called Fisco Bcos. Each first-prize winner will receive 800,000 yuan.

In 2005, Shenzhen became the first city in the country to launch a financial innovation award. In 2017, Shenzhen increased the number of selections for the innovation award from 38 to 52, with a total of 19.5 million yuan in prize money.

Shenzhen is also the first city in the country to have set up a financial technology special award, which pays out a total of 6 million yuan.