The Guangdong-Macao Cross-border Data Validation Platform is a cross-border data validation platform coordinated and promoted by the governments of Hengqin and Macao after the release of the ‘Overall Plan for the Construction of Hengqin-Guangdong-Macao Deep Co-operation Zone’, and it is positioned as a digital infrastructure to serve the financial institutions of Guangdong and Macao. The platform uses FISCO BCOS, a domestic open-source blockchain that is in line with the mutual recognition of Guangdong and Macao’s ‘Health Codes’, and applies technical features such as blockchain trustworthy authentication and data fingerprinting, which not only solves the difficult problem of cross-border information authentication and enhances the transparency of financial information, but also reduces the transaction costs of Macao residents and enterprises in handling related businesses. It also reduces the transaction costs of Macao residents and enterprises in handling related companies, which greatly facilitates the work, life, and development of Macao residents in the Mainland.

Since its launch in 2022, the platform has provided cross-border business support to several branches and outlets of the Industrial and Commercial Bank of China (ICBC), China Construction Bank (CCB), Bank of China (BOC), Xiamen International Bank Co., Ltd. (XIB), Banco Internacional de Macau (BIM), and other banks.

In 2024, the platform was connected with the local credit collection platform ‘Yuexinrong’ to jointly build a cross-border data verification service between Guangdong and Macao, forming a cross-border data element that can be carried across the border by users, with two-way interoperability between the north and south, and the data being ‘available and invisible’. The mobile mode of cross-border data flow has already achieved multi-point coverage in cities in the Greater Bay Area, including Guangzhou, Zhuhai, Foshan, Dongguan, Zhongshan, Huizhou, Jiangmen, Zhaoqing and Macao.