Hong Kong FinTech Week News

Hong Kong FinTech Week (HKFW) 2024 concluded on November 1. The week commenced with the two-day main conference on October 28 and 29, featuring engaging panels, speeches and discussions among government officials, regulators, fintech innovators and industry leaders from around the world.

The Hong Kong FinTech Week 2024, held from October 28 to November 1, featured key discussions and announcements on fintech, AI, and digital transformation. ​ Highlights included:

• Welcome Remarks: Clement Cheung emphasised the need for robust data governance and announced a 2025 survey for AI regulation in insurance. ​
• Panel Discussions: Covered topics like fintech collaboration between Hong Kong and the Middle East, regulation of virtual assets, digital assets and blockchain, AI’s role in decision-making, and the development of stablecoins. ​
• Keynote Addresses: Algernon Yau highlighted Hong Kong’s tech hub status, Jimmy Chiang introduced OASES for attracting strategic enterprises, and other speakers emphasised AI governance and trustworthy technology systems. ​
• Global Fast Track Awards 2024: WeavInsight and Datalist were announced as winners. ​

The event attracted over 37,000 visitors from more than 100 economies and included various community activities and networking events. ​ The next event is scheduled for November 3-7, 2025.

The crypto crowd is back in town for the industry’s annual Fintech Week jamboree, and what a difference a year makes.

A year ago, crypto enthusiasts were still licking their wounds after Bitcoin’s spectacular 77% crash, FTX’s Sam Bankman-Fried was about to get convicted for fraud, and Singapore looked like the region’s most popular hub for crypto bros.

Jeremy Allaire envisions a ‘global network of stablecoins’ enabling ‘better, faster, cheaper’ transactions for emerging markets trading through Hong Kong.

Following is the speech by the Secretary for Commerce and Economic Development, Mr Algernon Yau, at the second day of the Main Conference of Hong Kong FinTech Week 2024 today (October 29).

Christopher Hui, the Hong Kong Secretary for Financial Services, says that artificial intelligence is high on the agenda and that there is a need for right governance and oversight over its use in the financial markets.

The Insurance Authority (IA) today (29 October 2024) unveiled the InsurTech Forum, an event co-hosted with Invest Hong Kong on Day 2 of the Hong Kong FinTech Week 2024 to gather industry leaders and technology experts for insightful dialogue.

Tokenisation is a major focus of FinTech Week this year, in addition to AI, as Web3 in Hong Kong looks beyond ‘speculative’ cryptocurrencies.

Overview of Hong Kong FinTech Week 2024, highlighting key speeches, discussions, and announcements made during the event. It includes:

• Opening remarks by Paul Chan, Financial Secretary, emphasizing Hong Kong's progress as a global fintech hub and the upcoming policy statement on responsible AI application in financial services. ​
• Keynote addresses by various officials and industry leaders, discussing topics such as responsible AI use, virtual assets regulation, cross-border payments, and the future of fintech.
• Insights from industry experts on the impact of AI, tokenisation, stablecoins, and blockchain technology on the financial sector. ​
• Panel discussions and fireside chats exploring fintech innovation, regulatory challenges, and the integration of new technologies in finance.
• Announcements of new policies, regulations, and initiatives aimed at fostering fintech development and collaboration within the Greater Bay Area and globally.

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The Government today (October 28) issued a policy statement on responsible application of artificial intelligence (AI) in the financial market.

Following is the speech by the Financial Secretary, Mr Paul Chan, at Hong Kong FinTech Week 2024 today (October 28).

Hong Kong outlined its first policy guidelines dedicated to the use of AI in finance and floated a tax break for virtual assets, part of efforts to promote itself as an Asian business center.

On Monday, government officials touted a common framework through which different regulatory agencies can craft policy governing the use of AI, considered key to the future of finance and other sectors. They also proposed the extension of a tax break on the ownership of digital assets such as cryptocurrencies, promising legislation by the end of the year.

Poman Lo, Founding Managing Partner at impact venture fund AlphaTrio Capital, discusses Hong Kong's ambitions as a green finance hub and investing in climate tech. She speaks with Annabelle Droulers on "Bloomberg: The China Show" from the sidlines of the "Hong Kong FinTech Week". (Source: Bloomberg)

3Cap Founder and CEO Esther Wong discusses investment opportunities in digital assets. She speaks from the sideline of Hong Kong Fintech Week with Annabelle Droulers on "Bloomberg: The China Show". (Source: Bloomberg)

Any institution that wants to use AI ‘must formulate a governance strategy to provide direction on how [the] systems should be implemented,’ the government says.

Keynote Address at Hong Kong FinTech Week 2024.

The Hong Kong Monetary Authority (HKMA) today (28 October) co-organised Hong Kong FinTech Week 2024 with the InvestHK.  The ninth edition of the city’s flagship fintech event has attracted global participants to share innovative ideas, exchange fintech experiences and forge valuable business partnerships.

In his opening keynote, Mr Eddie Yue, Chief Executive of the HKMA, highlighted the importance of embracing the digital frontier to drive the next phase of financial innovation.

Invest Hong Kong (InvestHK) today (8 October 2024) unveiled details of Hong Kong FinTech Week 2024 (HKFW). The ninth edition of HKFW, themed "Illuminating New Pathways in Fintech" will take place from October 28 to November 1. This flagship event stands at the forefront of the global fintech evolvement. Aligned with Hong Kong's vision, the aim is to steer the future of financial services and beyond.