Chen Xiaochun

654789759@qq.com

THE U.K. Department for International Trade (DIT) launched the DIT FinTech Awards 2018: Hong Kong and Greater Bay Area during the U.K. Future Cities Evening Reception at Four Seasons Hotel Shenzhen on Tuesday.

“Entering its fourth year, the DIT FinTech Awards have been extended from Hong Kong to cover the entire Greater Bay Area. The awards offer businesses from the Chinese mainland and Hong Kong, an exciting opportunity to explore the U.K.’s world-leading FinTech eco-system and get connected with potential clients, peers and investors,” said Graham Stuart, minister for investment at the U.K. Department for International Trade.

“We had some 76,000 people working in fintech and some 1.3 billion pounds (US$1.67 billion) of venture capital invested in U.K. fintech firms in 2017 alone,” added Stuart.

The gold award winner for the most outstanding business plan will join a five-day tailored program in early December to explore the Fintech sector in London and Edinburgh, including free flights and accommodations as well as exclusive access to a major high-profile event in London with leading industry and ministerial attendees.

To enter the competition, candidate companies are asked to submit a business plan to fintechaward@bcg.org.hk with three to five pages outlining their strengths and competences in the following areas: innovation, market growth potential, team experience and background, and prospect for growth in the U.K. The deadline for submissions is Oct. 5.

“This is my first visit to Shenzhen. It is truly breath-taking. It is already a valued partner of the U.K. The U.K is the biggest European investor in this city. And Shenzhen companies — BYD, Tencent, Huawei — have made massive, long-term commitments to the U.K.,” said Stuart during his speech.

“Today we face the same challenges: public transport that works, air that you can breathe, and workplaces and public spaces that are digitally connected. We are working on the same technologies to meet these challenges too: the Internet of Things, edge computing, connected and autonomous vehicles, electric cars, 5G networks, and big data analytics,” said Stuart.

British Prime Minister Theresa May visited China earlier this year and signed a memorandum of understanding on “Smart Green Future Cities” with the National Development and Reform Commission of China. “It’s why we intend to launch a multi-million pound U.K.-China Future Cities program under the U.K.’s Prosperity Fund,” said Stuart.

Apart from efforts by governments, Stuart said that British companies are also at the forefront of the development of future cities.

Guo Jingwei, vice president of China Council for the Promotion of International Trade Shenzhen Committee, said, “Shenzhen and the U.K. enjoy close cooperation. The U.K. is the economic center of Europe. In the fields of technology, creation, education, energy, SMEs, and especially environmental protection, as mentioned by the minister just now, the U.K. is similar to Shenzhen.”

Guo said that Shenzhen is a coastal city with a very dynamic economy. The city is home to a large number of private companies and export-oriented enterprises. It’s one of the core cities in the Greater Bay Area, as well as an innovation highland, a technology city and a city with a high creation value.

“Now the city’s investment in research and development totals more than US$13.2 billion, more than any other city in China. A total of 1.76 million people are working in the field of innovation and creation. There are over 30,000 technology companies in Shenzhen. This means, for every 63 people there is a high-tech company, which is quite rare in the international community,” said Guo.

A total of 280 Fortune 500 companies have invested in Shenzhen. “This means that they are optimistic about Shenzhen. Our government works quite efficiently,” he said.