3 in 5 executives laud government fintech initiatives

They belive it is key to maintain Hong Kong's financial dominance.

Three in 5 business executives (63%) believe that sustained government’s support especially in setting up fintech infrastructure is crucial to maintaining Hong Kong’s status as a leading financial centre, according to a smart city report from KPMG China. 

This comes as more than half or 65% of executives believe that Hong Kong’s financial development is better than other developed cities. 

However, to retain this pace amidst an increasingly competitive economic arena, businessmen call for faster regulatory processes to boost operations and greater integration with the Mainland.

Further development of e-payment options and a greater number of mobile commerce channels would also play a key role in accelerating financial development. 

“Education aimed at stimulating creativity is also ranked highly by executives. To this end, some companies are calling for greater entrepreneurship and creative thinking to develop a more innovative culture in Hong Kong,” the report added.