Author(s)

Zhengge Lv

Corresponding Author

Zhengge Lv

Abstract

With the acceleration of digital transformation, financial technology (FinTech) has become an important force in promoting regional economic cooperation. As the core region of China's economic development, the application of financial technology in the Guangdong-Hong Kong-Macao Greater Bay Area is profoundly influencing the process of regional economic integration. This paper explores the models and effects of financial technology empowering deep economic cooperation in the Guangdong-Hong Kong-Macao Greater Bay Area, with a focus on analyzing the innovative applications of financial technology in cross-border payments, financial market interconnectivity, and inclusive finance. Research has found that financial technology has promoted the efficient integration of the economies of Guangdong, Chinese Hong Kong, and Chinese Macao, as well as the optimization of industrial structure, by improving payment efficiency, reducing transaction costs, and optimizing financial services. At the same time, the widespread application of financial technology has promoted innovation in financial markets and facilitated capital flows within the region. This paper also proposes policy recommendations such as strengthening policy coordination, promoting the integration of fintech and traditional industries, and increasing talent cultivation to further unleash the potential of fintech in economic cooperation in the Guangdong-Hong Kong-Macao Greater Bay Area. Overall, financial technology plays an important role in promoting deep regional economic cooperation and achieving sustainable development.

Keywords

Financial technology; Guangdong-Hong Kong-Macao Greater Bay Area Economic cooperation; Cross-border payment