,Hong Kong
Photo courtesy of Yahoo

Fintech can boost HK competitiveness as global financial services centre: Chan

HK is pursuing a plethora of fintech prospects, including the use of central bank digital currency for cross-border transactions.

Hong Kong Financial Secretary Paul Chan addressed the Global Fintech Market Updates: Hong Kong-Korea Ecosystem webinar last 8 September. Financial technology professionals and investors from Hong Kong, Korea, and other countries were in attendance.

According to Chan, "Hong Kong now counts more than 600 fintech companies. They provide mobile payments, cross-boundary transfers, financial consultancy, wealth management, and much more." He said eight virtual banks, four virtual insurers, and one virtual-asset trading platform are currently operating in Hong Kong.

He stated that China's 14th Five-Year Plan supports Hong Kong's determination to enhance its status as an international financial centre, develop into a global innovation and technology hub, and deepen mutual access between the financial markets of Hong Kong and the Mainland.

The Hong Kong Fintech Week takes place in the first week of November this year.

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Leasing momentum in the retail market continues to improve in August 2021.
The new prices will give customers greater flexibility when booking flights.
Total employment in the private sector decreased by 0.4%.
Tollerort port terminal is located in the Port of Hamburg, Germany.
The inflation rate is at 1.2%.
It highlights the importance of SAF as it works towards net-zero by 2050.
This is 95.3% lower than pre-pandemic levels in August 2019.
This is an 8% increase from the first quarter of 2021.
Payment card usage increased by 18.8% QoQ in Q2 2021.
Compared with the end of Q2 2020, SVF accounts in use were up by 0.6% in 2021.
41% of Hong Kong consumers support local businesses.
Bond Connect will expand mutual access between Hong Kong and China markets.