The following is issued on behalf of the Hospital Authority: The spokesman for Hong Kong Buddhist Hospital (HKBH) made the following announcement today (October 8): After conducting a ro… read more
Invest Hong Kong (InvestHK) today (October 8) 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.
The largest and most influential gathering of international leaders in finance and technology
As the city’s premier fintech gathering, HKFW is organised by the Financial Services and the Treasury Bureau and InvestHK, in collaboration with the Hong Kong Monetary Authority (HKMA), the Securities and Futures Commission (SFC), and the Insurance Authority (IA). The event is expected to draw over 30 000 attendees from more than 100 economies.
With hundreds of distinguished speakers and numerous sponsors and exhibitors, the main conference taking place between October 28 and 29 at Hong Kong AsiaWorld-Expo promises to be a convergence of global expertise and cutting-edge fintech innovations.
HKFW draws votes of confidence from both the Mainland and international companies and markets. The event this year will feature an unprecedented number of Mainland Chinese big tech companies showcasing their latest innovations, as well as notable speakers and delegates from the Association of Southeast Asian Nations (ASEAN) and the Middle East, which solidifies Hong Kong’s multifaceted business connections and landscape.
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, said, “With its strategic location and robust financial infrastructure, Hong Kong emerges as a ‘super connector’ and ‘super value-adder’ for fintech. Hong Kong is primed to lead the transformative journey to uncover the pathways to opportunities. Our city is ranked third in the latest Global Financial Centres Index and first in the Asia Pacific Region. In terms of fintech, Hong Kong rose five places to ninth, putting it among the top 10 fintech hubs globally. This reflects the concerted efforts of the Government, financial regulators, and industry players to promote fintech development in Hong Kong.”
Mr Hui added that through various initiatives aimed at attracting and retaining strategic companies and talent, Hong Kong is ready for positive results from the FinTech Week, and the event this year will pave the way for connected, efficient, and sustainable global economic growth from fintech offerings.
Exploring tomorrow’s solution today
With Hong Kong now ranking among the top three global financial centres and top 10 fintech centres globally, HKFW 2024 is poised to be a vibrant hub of ideas, innovations, and global collaborations, reinforcing Hong Kong’s institutional advantages and abilities for breakthroughs in innovative financial services and leading market innovation.
This year, HKFW places a significant emphasis on cutting-edge technologies such as Artificial Intelligence (AI). Recent surveys reveal that 38 per cent of finance executives in Hong Kong have initiated the incorporation of generative AI, marking the highest rate among all surveyed markets and notably surpassing the global average of 26 per cent.
The main conference will feature eight themed forums on the latest technologies and cross-industry connections. These forums include the Global Forum, AI & Advanced Tech Forum, Blockchain & Digital Assets Forum, Payments & Other FinTech Forum, InsurTech Forum, Green FinTech & Impact Forum, WealthTech & InvestTech Forum, and Hong Kong Connect Forum, offering participants a comprehensive view of the ever-evolving fintech landscape. The stages and zones will also be designed in the Chinese wisdom of “wuxing” and “yinyang”.
A series of engaging community events will take place throughout the week, running from October 28 to November 1 in Hong Kong and Shenzhen. These events will include a tour of the Greater Bay Area, satellite and networking events, lifestyle activities and workshops and the inaugural Web3x3 basketball game.
The Director-General of Investment Promotion of InvestHK, Ms Alpha Lau, said, “As a leading international financial centre, fintech has always been an important pillar of the Hong Kong economy. Last year, Hong Kong climbed to the top 10 in the United Nations’ Global Frontier Technologies Readiness Index. This readiness to embrace technologies like blockchain and AI is essential to ensuring the long-term competitiveness of our financial services industry. We will continue to promote Hong Kong’s strengths in financial services, innovation and technology, and family offices. And our strategic focus will be on enhancing our promotion drive in key markets, including ASEAN and the Middle East. Hong Kong FinTech Week will be an important platform to turn these foci areas into action. It is an engine to drive businesses to Hong Kong, as well as create bridges for our city’s fintech ecosystem to capture global opportunities.”
This year, semi-finalists of the Global Fast Track will be invited to Hong Kong to pitch in person on stage during HKFW, with the grand finale taking place on the second day. This is an unparalleled opportunity for qualified fintech innovators to showcase their profile in front of thousands of audience members, key corporates and investors looking for fintech solutions and investment opportunities. This year, the programme received an overwhelming response, with over 500 applications from 56 economies worldwide.
List of esteemed speakers at the main conference
Hong Kong Special Administrative Region Government and regulators:
The following is issued on behalf of the Hong Kong Monetary Authority:
Exchange Fund Bills tender results:
| Tender date | : | October 8, 2024 |
| Paper on offer | : | EF Bills |
| Issue number | : | Q2441 |
| Issue date | : | October 9, 2024 |
| Maturity date | : | January 8, 2025 |
| Amount applied | : | HK$171,525 MN |
| Amount allotted | : | HK$66,229 MN |
| Average yield accepted | : | 3.84 PCT |
| Highest yield accepted | : | 3.89 PCT |
| Pro rata ratio* | : | About 7 PCT |
| Average tender yield | : | 4.09 PCT |
| **************************** | ||
| Tender date | : | October 8, 2024 |
| Paper on offer | : | EF Bills |
| Issue number | : | H2470 |
| Issue date | : | October 9, 2024 |
| Maturity date | : | April 9, 2025 |
| Amount applied | : | HK$50,200 MN |
| Amount allotted | : | HK$19,000 MN |
| Average yield accepted | : | 3.47 PCT |
| Highest yield accepted | : | 3.55 PCT |
| Pro rata ratio* | : | About 25 PCT |
| Average tender yield | : | 3.74 PCT |
| Tender date | : | October 15, 2024 |
| Paper on offer | : | EF Bills |
| Issue number | : | Q2442 |
| Issue date | : | October 16, 2024 |
| Maturity date | : | January 15, 2025 |
| Tenor | : | 91 Days |
| Amount on offer | : | HK$65,265 MN |
| **************************** | ||
| Tender date | : | October 15, 2024 |
| Paper on offer | : | EF Bills |
| Issue number | : | H2471 |
| Issue date | : | October 16, 2024 |
| Maturity date | : | April 16, 2025 |
| Tenor | : | 182 Days |
| Amount on offer | : | HK$19,000 MN |
Following are the opening remarks by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, at the press conference on Hong Kong FinTech Week 2024 today (October 8):
Alpha (Director-General of Investment Promotion at Invest Hong Kong, Ms Alpha Lau), distinguished guests, ladies and gentlemen,
Good afternoon and thank you for joining us today. It gives me great pleasure to unveil the official details of this year’s much-anticipated Hong Kong FinTech Week, carrying the theme “Illuminating New Pathways in Fintech”.
This year marks the ninth edition of our flagship event, standing at the vanguard of the global fintech revolution. I have had the good fortune to witness the remarkable growth and evolution of our Hong Kong FinTech Week over the years. The conference this year further encapsulates the global paradigm shift, with emerging technologies driving the spirit of change.
I have made it a tradition to announce a new policy statement and new initiatives during the FinTech Week, sharing with our global audience the Government’s vision and mission in taking forward market development together with the industry. In 2022 we announced the groundbreaking Policy Statement on Development of Virtual Assets in Hong Kong, and last year we shared the plan to develop a new integrated fund platform for our market. This year is no exception, and we are set to announce a policy statement for responsible use of artificial intelligence (AI) in our financial services sector. This will be another important announcement from us elaborating our policy stance on this topic of global importance and interest.
Hong Kong FinTech Week welcomes top technology leaders, policymakers, and investors from around the world for insightful discussions on the fintech landscape. We are set to showcase the individuals, rising stars, and innovations propelling advancements in efficiency, scalability, and sustainability worldwide. During the event, we will explore how entrepreneurs and corporations are leveraging frontier technologies like AI, tokenisation, and Web3 to craft innovative business models and capitalise on Asia’s economic ascension.
Hong Kong always shows resilience and strength during challenging times. Our city has recently been ranked third in the latest Global Financial Centres Index around the globe and first in the Asia Pacific Region. In terms of fintech, Hong Kong rose five places to ninth, putting it among the top 10 fintech hubs globally. This reflects the concerted efforts of the Government, financial regulators, and industry players to promote fintech development in Hong Kong. Over the past few months, we have introduced various initiatives to further cultivate a vibrant ecosystem for fintech innovation, including expanding the cross-boundary e-CNY pilot in Hong Kong, launching the new Generative AI Sandbox, as well as commencing phase 2 of the e-HKD Pilot Programme, just to name a few.
With its strategic location and robust financial infrastructure, Hong Kong emerges as a “super connector” and “super value-adder” for fintech. Hong Kong is primed to lead this transformative journey to uncover the pathways to opportunities. Notably, we’ve witnessed strong interest from the Mainland’s big tech companies showcasing their latest innovations, underscoring how Chinese technology is shaping global finance’s future through cross-border collaborations and cutting-edge technology integration.
The Mainland aside, Southeast Asia’s rising stars will be present to showcase their tailored solutions for the region’s unique markets, sharing success stories of fintech solutions crafted to meet the region’s distinctive market needs. These vibrant discussions will highlight Southeast Asia’s growing influence in the global fintech arena. The Middle East will also bring a wealth of strategic insights to the table, fostering innovation collaborations between Hong Kong and the region.
Hong Kong FinTech Week 2024 promises to be a melting pot of ideas, innovations, and collaborations for global communities. Attendees will have the opportunity to explore how frontiers like AI, tokenisation, blockchain, and green tech are tackling real-world challenges nowadays.
Another standout feature of the week is the Greater Bay Area day visit, an exclusive tour inviting international financial leaders, investors, and tech founders to explore the innovation ecosystems across Guangzhou, Shenzhen, and Hong Kong. This excursion will facilitate collaboration, knowledge sharing, exploration of investment prospects, and meaningful dialogues, fostering a day of productive networking.
Through various initiatives aimed at attracting and retaining strategic companies and talent, we are ready for positive results from the FinTech Week. The event this year will pave the way for connected, efficient, and sustainable global economic growth from fintech offerings. I therefore extend a very warm welcome to all of you to join us. Thank you. read more
Hong Kong Customs yesterday (October 7) detected a case which involved a local company that conducted transactions of value-adding work on precious metals and stones with each transaction value exceeding HK$120,000 without a registration under the Dealers in Precious Metals and Stones Regulatory Regime. The sole proprietor of the company was arrested.
The investigation is ongoing. The arrested person has been released on bail pending further investigation.
According to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615), the Regime came into effect on April 1, 2023. Any person who is seeking to carry on a business of dealing in precious metals and stones in Hong Kong and engage in any transaction(s) (whether making or receiving a payment) with a total value at or above HK$120,000 in Hong Kong is required to register with the Commissioner of Customs and Excise. Any dealer, other than a registrant, who claims to be a registrant, claims to be authorised to carry out, or carries out any cash or non-cash transaction(s) with total a value at or above HK$120,000 is liable to a maximum fine of HK$100,000 and imprisonment for six months upon conviction.
Hong Kong Customs reminds all dealers that the transitional period for registration under the Regime has ended. Any dealers in precious metals and stones must obtain the relevant registration before they can carry out any cash or non-cash transaction(s) with a total value at or above HK$120,000.
For the forms, procedures and guidelines to submit applications for registration, please visit the website for Dealers in Precious Metals and Stones Registration System (www.drs.customs.gov.hk) or Hong Kong Customs’ webpage (www.customs.gov.hk/en/service-enforcement-information/anti-money-laundering/supervision-of-dealers-in-precious-metals-and-ston/index.html).
Members of the public may report any suspected transactions involving precious metals and stones with a total value at or above HK$120,000 conducted without the required registration to Customs’ 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002). read more