– Fintech initiatives discussed


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


During the meeting, he conducted exchanges with representatives from the financial regulators, fintech sector, academia and research institutions on the development of Hong Kong’s fintech sector.


Mr Hui said the Government attaches great importance to the development of fintech and has been working closely with financial regulators and industry stakeholders to co-ordinate various key areas of fintech development and ensure that the policies and regulatory regimes will tie in with the market development needs. The group will further promote cross-sectoral co-operation.


Focusing on three major areas: market development, regulation and nurturing talent, representatives from the Government and financial regulators reported on the relevant measures to promote the development of fintech and the latest progress, including the overall landscape and development trends of green fintech, the Fintech Promotion Roadmap published by the Monetary Authority in August as well as the regulatory regime for stablecoins which is currently under study.


On nurturing fintech talent, the Financial Services & the Treasury Bureau will launch a fintech internship scheme for post-secondary students to help them study fintech related subjects to acquire practical work experience in fintech enterprises in Hong Kong and the Guangdong-Hong Kong-Macao Greater Bay Area, thus equipping them early with knowledge of pursuing a career in the sector.


Furthermore, to promote the professional development of fintech talent, the bureau has commissioned a consultancy study on developing fintech professional Qualifications Framework for the securities and insurance sectors. The study is expected to be completed by end of the year.


Hong Kong Fintech Week 2023 will be held in the week of October 30 with the theme FinTech Redefined.


The bureau will work with various participating parties and the industry to showcase the vitality of Hong Kong’s fintech ecosystem to the global markets in an innovative manner.


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