Hong Kong boosts fintech growth

He held discussions with representatives from the financial regulators, fintech sector, academia, and research institutions.

Financial Services and the Treasury Secretary Christopher Hui discussed several fintech measures to implement and secure Hong Kong's position as a leading international financial centre for digital finance and fintech,

During the meeting, he held discussions with representatives from the financial regulators, the fintech sector, and academia and research institutions on the latest developments in Hong Kong’s fintech sector.

Hui said that Hong Kong, as an international financial centre, is an ideal location for the development of digital finance and fintech.

He said that the government and the financial regulators support fintech development, elaborating that this includes enhancing financial infrastructure, building a more active fintech ecosystem, nurturing fintech talent, and strengthening liaison and collaboration with the Mainland and overseas partners.

“The coordination group will continue to promote cross-sectoral coordination and co-operation. I greatly appreciate the valuable views expressed by the industry representatives,” said Hui.

Different aspects of fintech, including how virtual assets should be further integrated into the mainstream financial market and its adoption of artificial intelligence, were discussed in the meeting.

Cyberport reported on the latest developments relating to the Green & Sustainable Fintech Proof-of-Concept Funding Support Scheme, and the Monetary Authority gave an update on the wholesale central bank digital currency Project Ensemble.

The session also noted that Hong Kong FinTech Week 2024, taking “Illuminating New Pathways in Fintech” as its theme, will be held from 28 October to 1 November, with the main conference being staged on 28 and 29 October at the AsiaWorld-Expo.