Guangzhou to host fintech projects in government sandbox in race with Beijing, Shanghai

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.