HONG KONG: Hong Kong Exchanges and Clearing Limited (HKEX) has entered into a memorandum of understanding (MOU) with Ping An Insurance Company of China Limited to explore possible areas of cooperation and collaboration in Fintech and data analytics to enhance the region’s financial market ecosystem.

HKEX Chief Executive, Charles Li, joined Ping An Chairman, Ma Mingzhe, in Shenzhen to mark the signing of the MOU.  In attendance were other senior executives from HKEX and Ping An.

HKEX and Ping An will work together to identify areas of collaboration,  including Fintech solutions across different asset classes, as well as the application of data and Artificial Intelligence technology to support the mutual connectivity of the Mainland Chinese, Hong Kong and international markets.

Ping An, which is a leading financial services provider in insurance, banking, and securities in China, has significant technology capabilities and is a provider of Fintech solutions to support other financial institutions on their digital transformation.  Its Fintech unit, Ping An OneConnect, serves over 600 banks and 80 insurance companies in China and internationally.

HKEX is one of the world’s major exchange groups, and operates a range of equity, commodity, fixed income and currency markets.  Technology Empowered is one of the three cornerstones of HKEX’s current Strategic Plan, leveraging data and technology to modernise HKEX’s core business and explore new opportunities through strategic partnerships with technology leaders.

Hong Kong Exchanges and Clearing Limited (HKEX) is one of the world’s major exchange groups, and operates a range of equity, commodity, fixed income and currency markets. HKEX is the world’s leading IPO market and as Hong Kong’s only securities and derivatives exchange and sole operator of its clearing houses, it is uniquely placed to offer regional and international investors access to Asia’s most vibrant markets.

HKEX is also the global leader in metals trading, through its wholly owned subsidiaries, The London Metal Exchange (LME) and LME Clear Limited.  This commodity franchise was further enhanced with the launch of Qianhai Mercantile Exchange, in China, in 2018.