Shenzhen has ranked first in China and third globally in fintech, according to the latest Global Financial Centres Index (GFCI 37) report released on March 20. The city continues to solidify its position as a global leader, following New York and London.

Shenzhen's rise in fintech is driven by strategic policies, including the Shenzhen Fintech Development Plan (2023-2025), which fosters a comprehensive industry ecosystem spanning research and development, application, commercialization, talent cultivation, and regulatory standards. The city has established China's first fintech global expansion alliance and supported WeBank in launching the country’s first overseas fintech subsidiary in Hong Kong. It also introduced the first visual digital yuan hard wallet and recently collaborated with Hong Kong to form the Shenzhen-Hong Kong Fintech Cooperation Committee, aiming to build a world-class fintech hub.

A strong concentration of industry leaders has further propelled Shenzhen's fintech sector. The city is home to major companies such as Ping An Technology, China Merchants Jintech, and Tencent Fintech, alongside emerging firms like Huarui Technology and Weiyan Technology. Shenzhen dominated the 2024 Forbes China Top 50 Fintech Companies list, with 13 local firms making the cut, including WeBank and Kingdee Fintech. Companies from the city also ranked among the top in Fortune's Asia Fintech Innovators list, underscoring its influence in the industry.

Shenzhen’s fintech development is supported by a robust infrastructure and dedicated innovation hubs. National-level institutions such as the Shenzhen Fintech Research Institute, National Fintech Testing Center, and Baihang Credit provide essential resources for industry growth. The city’s fintech industrial parks have also become key drivers of innovation. Futian's "Fintech Twin Parks" have reached a combined enterprise valuation of nearly 70 billion yuan ($9.7 billion), while Luohu's Digital Yuan Industrial Park has attracted 21 fintech enterprises, including Shudun Technology, Bosssoft, and Huachin Technology. These hubs accelerate startup incubation and fintech commercialization, reinforcing Shenzhen’s role as a global leader.

As one of the first cities in China to pilot the digital yuan, Shenzhen has achieved full coverage across six key sectors. The city has facilitated the opening of 45.42 million digital wallets, with 1.91 million merchants now accepting digital yuan payments. Since 2019, it has also implemented 15 fintech regulatory pilot programs and 13 capital market fintech trials, playing a crucial role in shaping China’s digital financial landscape.

Talent development has been another priority for Shenzhen in solidifying its fintech leadership. In collaboration with Hong Kong and Macau regulators, the city has launched the Greater Bay Area Fintech Talent Program, training over 3,000 certified fintech professionals, including 2,715 Level 1 and 319 Level 2 certified specialists. Partnerships with eight universities have led to the establishment of 27 fintech internship bases, providing nearly 1,000 internship opportunities and supporting workforce development in the industry.

With world-class enterprises, cutting-edge research platforms, and strategic industry policies, Shenzhen continues to strengthen its position as a global fintech leader. The city remains committed to driving digital finance innovation, fostering cross-border collaboration, and expanding its international influence in the fintech sector.