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Institute of Finance, Chinese Academy of Social Sciences: Hong Kong can help Africa upgrade its payment system through blockchain technology financial innovation

The 2024 Forum on China-Africa Cooperation Summit released a lot of good news for China-Africa cooperation. Regarding Hong Kong's advantages and opportunities in it, Guo Hanbing, a postdoctoral researcher at the Institute of Finance of the Chinese Academy of Social Sciences, said in an interview with Ta Kung Pao that in the context of the summit, Hong Kong's role is gradually changing from a traditional trade and financial intermediary to an innovative partner, injecting new vitality into Africa's development. Guo Hanbing believes that in the field of financial technology, Hong Kong's innovation capabilities can help African countries improve payment systems and enhance the penetration and efficiency of financial services. For example, through mobile payment and blockchain technology, it can provide more convenient financial services for small and micro enterprises and self-employed individuals in Africa.