The southern Chinese city of Guangzhou has joined Beijing, Shanghai and Shenzhen in boosting local fintech innovations by introducing a sandbox programme that allows stock exchanges, as well as securities and futures companies to experiment with new technology initiatives, according to a plan unveiled by local authorities this week.
The plan is aimed at building a “prudent and tolerant” regulatory environment, and facilitating the “digitisation of the capital market”, according to a notice published by the Guangzhou Municipal Local Financial Supervision and Administration. The project has received the blessing of the China Securities Regulatory Commission (CSRC), officials said.
