Jointly Creating a New Chapter in Innovative Digital Economy - Shanghai Technology Exchange and Hong Kong Digital Asset Exchange (HKbitEX) Sign a Memorandum of Strategic Cooperation

SHANGHAI, Dec. 28, 2023 /PRNewswire/ -- On the occasion of the 20th anniversary of the establishment of the Shanghai-Hong Kong cooperation mechanism, the signing ceremony of the memorandum of strategic cooperation between the Shanghai Technology Exchange and the Hong Kong Digital Asset Exchange (HKbitEX) was grandly held in Shanghai. This signing ceremony marks an important step in the cooperation between Shanghai and Hong Kong in the field of the digital economy, jointly promoting the digital transformation and high-quality development of the Chinese economy.

Over the past twenty years, Shanghai and Hong Kong have jointly sought innovation and deepened exchanges and cooperation. Against the backdrop of the vigorous development of the digital economy, Shanghai and Hong Kong, as important engines for the development of the Chinese economy, have strengthened future cooperation in the field of the digital economy. As Web3.0 serves as the value engine driving the development of the digital economy, the Hong Kong Digital Asset Exchange actively responds to the Hong Kong government's strategy of promoting the vigorous and sustainable development of Web3.0 in Hong Kong, grasping the trend of scientific and technological innovation and exploring cooperation with the Shanghai Technology Exchange.

The Shanghai Technology Exchange, jointly established by the Ministry of Science and Technology and the Shanghai Municipal People's Government, is committed to building a credible digital new technology trading platform. The Hong Kong Digital Asset Exchange is dedicated to providing professional, secure, and compliant digital asset trading and custody services to global investors. Tykhe Capital Group, the parent company of HKbitEX, is committed to building a compliant ecosystem for Web3.0 in Hong Kong, with four business segments including digital asset trading, capital markets and wealth management, digital asset custody, and technological research and development.

The signing of this memorandum of strategic cooperation is an important achievement of the cooperation between Shanghai and Hong Kong in the field of digital economy. According to the memorandum, the Shanghai Technology Exchange will work with the Hong Kong Digital Asset Exchange to explore comprehensive financial solutions for innovative and entrepreneurial companies based on asset tokenization. This cooperation aims to address obstacles faced by innovative and startup companies in the financing process, including mismatched financing demands and funding supply, difficulties in valuation, and imperfect investment exit mechanisms. Both parties will jointly build an open, transparent, and efficient technology trading and financing platform to provide comprehensive services and support for innovative and entrepreneurial companies. This will promote the coordinated development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Yangtze River Delta, and contribute to the high-quality development of the Chinese economy.

In the future, the Shanghai Technology Exchange and the Hong Kong Digital Asset Exchange will jointly promote the development of financing services for tokenized scientific and technological innovation enterprises, promote financial cooperation and technological innovation between Shanghai and Hong Kong, and contribute to the high-quality development of the Chinese economy. At the same time, they will actively explore cooperation with other regions to promote the development of the global digital economy.

The signing of this memorandum of strategic cooperation is an important milestone in the cooperation between Shanghai and Hong Kong in the field of the digital economy, and it is also an important step in the transformation and development of the Chinese digital economy. We believe that with the joint efforts of all parties, the digital economy will play a greater role in the future, promoting the sustained development and prosperity of the Chinese economy.

Media Contact: Terence Pu, terence.pu@hkbitex.com.hk