Hong Kong Business News

Secretary for Financial Services & the Treasury Christopher Hui today chaired the fourth meeting of the Coordination Group on Implementation of Fintech Initiatives.

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

Mr Hui said that Hong Kong, as an international financial centre with a robust regulatory environment, rich business opportunities and capital support, is an ideal location for the development of digital finance and fintech.

He stressed that the Government and the financial regulators strongly 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 co-ordination and co-operation. I greatly appreciate the valuable views expressed by the industry representatives.”

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 October 28 to November 1, with the main conference being staged on October 28 and 29 at the AsiaWorld-Expo.

The ninth edition of this event will attract attendees from all over the world, including renowned speakers from various sectors. The Financial Services & the Treasury Bureau and Invest Hong Kong will collaborate with participating parties and the industry to showcase the vitality of Hong Kong’s fintech ecosystem to global markets.