InvestHK introduces partners for inaugural Hong Kong Fintech Week and offers strong growth outlook for sector
Invest Hong Kong today (October 25) announced more details about the inaugural Hong Kong Fintech Week and introduced several key partners for the event, including the Hong Kong Monetary Authority (HKMA), Finnovasia, Finovate, the Hong Kong Fintech Community, Cyberport and NexChange, while also providing an outlook for Hong Kong’s financial technologies (Fintech) sector in the coming year. The Acting Director-General of Investment Promotion, Mr Charles Ng, said at a media briefing, “The first Hong Kong Fintech Week marks the beginning of a journey for the sector in our city - a journey that will see it grow significantly during the next couple of years, supported by the Government and regulators but driven by the private sector.”
The week will be bookended by programmes involving Hong Kong regulators – all-day events organised by the Securities and Futures Commission (SFC) on November 7 and the HKMA on November 11. In between, events organised by Finnovasia, Finovate, the Hong Kong Fintech Community, Fintech Innovation Lab and Fintech O2O (NexChange and Cyberport), will run independently under the overarching theme of Hong Kong Fintech Week.
All of the events will take place at PMQ in Central, with the exception of activities held on November 7 which will include the Finnovasia workshop at Eaton House in Central, the SFC’s Regtech and Fintech Contact Day at the SFC’s office, the Fintech Innovation Lab at Cyberport and a lunch event on regulation organised by the Asian Institute of International Financial Law at the University of Hong Kong.
“Blockchain, cybersecurity, payments, insurance technology, regulatory technology (Regtech) and artificial intelligence will all be big themes during Fintech Week, just as they will be in the coming year and beyond,” Mr Ng said. “It is very exciting for us, particularly when we engage with other leading Fintech hubs and map our growth strategy for next year – a strategy that will see us being much more visible at key events worldwide and through a build-up of specialist staff in key locations.”
Executive Director (Financial Infrastructure) of the HKMA Mr Li Shu-pui said, "A highlight of Fintech Week will be the Fintech Day organised by the HKMA. The HKMA, together with its strategic partners the Hong Kong Applied Science and Technology Research Institute, Cyberport and the Hong Kong Science Park, will showcase the collaboration initiatives and the future plan for facilitating Fintech development in Hong Kong. The HKMA will take this opportunity to announce the release of a white paper on the initial research study and results on distributed ledger technology. Also, a number of industry players have been invited to discuss their views and insights on the future of Fintech and its ecosystem in Hong Kong."
Chief Executive Officer and co-founder of Finnovasia Mr Anthony Sar said, “Being an international financial centre, Hong Kong has all the necessary ingredients to become a launch pad for international Fintech companies to successfully develop scale in the Mainland of China and across Asia, and of course for Chinese Fintech companies to go overseas.”
The Director of Events of the Finovate Group, Ms Erika Sanchez, said she was delighted in bringing Finovate to Hong Kong for the first time. “Finovate has showcased cutting-edge banking and financial technology in our unique, short-form, demo-only format for nearly 10 years, and we are thrilled to be debuting in Hong Kong on November 8. Hong Kong’s vibrant Fintech scene is ripe for innovation and serves as an optimal launch pad for anyone looking to make inroads into Asia,” she explained.
Earlier this year, Cyberport launched the first phase of its dedicated Fintech co-working space, Smart-Space FinTech 1. The Chief Public Mission Officer of Cyberport, Dr Toa Charm, said, “Cyberport is committed to nurturing youth and start-ups to grow their Fintech ideas into successful business locally and globally. One of the best ways to achieve this is to collaborate with partners in the Fintech ecosystems worldwide just like what we are doing here today. It is our pleasure to partner with all key stakeholders of the Hong Kong Fintech ecosystem to co-organise this event.”
The Founder and CEO at NexChange, Mr Juwan Lee, added, “The Fintech O2O event series is a prime example of Hong Kong government entities working closely with industry players to achieve an accelerated and synched Fintech hub. Within a year of NexChange and Cyberport starting this online-to-offline event series, it has blossomed beyond Hong Kong into an ecosystem with a global footprint in New York, Toronto and soon Shanghai.”.
For more information and registration for the individual events of Hong Kong Fintech Week, please visit www.hongkong-fintech.hk. About Invest Hong Kong Invest Hong Kong is the department of the Hong Kong Special Administrative Region Government established in July 2000 to attract foreign direct investment and support overseas and Mainland businesses to set up or expand in Hong Kong. It provides free advice and customised services to help businesses succeed in Hong Kong’s vibrant economy. For more information, please visit www.investhk.gov.hk.