Hong Kong ‘back in business’, finance chief Paul Chan tells fintech event as government proposes raft of measures to promote virtual-assets industry
- FinTech Week is the first of a series of mega events Hong Kong is hosting to mark its return after almost three years of Covid-related isolation
- Spokesman for financial secretary says Paul Chan has tested negative for coronavirus and set to return to Hong Kong on Tuesday afternoon
Hong Kong has launched the first of a series of international events to tell the world that it is “back in business”, with the government on Monday proposing a raft of measures to promote the virtual-assets industry.
In a pre-recorded video for the opening of FinTech Week, Financial Secretary Paul Chan Mo-po noted that Hong Kong was now home to more than 800 financial technology enterprises from 180 five years ago, with growth powered by the city’s strengths such as an open market, a rigorous regulatory regime, the rule of law and the “one country, two systems” governing principle.
Ahead of the forum, the government also issued a policy statement on the development of virtual assets in Hong Kong, saying it would launch a number of pilot projects to test the technological benefits and their further application in the financial markets.
“We want to make our policy stance clear to global markets, to demonstrate our determination to explore financial innovation together with the global, virtual-assets community,” Chan told participants of FinTech Week.
“The digital transformation of our financial services sector is a central priority.”
FinTech Week is the first of a series of high-profile international events Hong Kong is hosting to announce its comeback after nearly three years of cloistered existence under Covid-19 curbs following the political turmoil of 2019.