Entries open for HCFA’s 2025 Awards
The Cross-Border Finance and Financial Innovation Service Awards invite professionals to showcase achievements in fintech, cross-border collaboration and green finance
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Financial professionals from across the Greater Bay Area are being invited to submit entries for the 3rd Cross-Border Finance and Financial Innovation Service Awards.
Organised by the Chinese Financial Association of Hong Kong (HCFA), the event provides a platform to recognise industry achievements while strengthening connections between investors in Hong Kong and the mainland.
This year’s edition introduces a tokenised voting system, with HCFA members casting ballots through smart contracts.
“Our industry awards must be more than symbolic. By introducing token-based voting we’re signalling both innovation and integrity, and we want to make sure the recognition is credible, transparent and trusted,” Zou Chuan, vice chair of the HCFA, explained.
The Awards are also supported by various partners, including the Shenzhen Institute for Financial Stability & Development, across the Greater Bay Area.
The objective is to recognise and celebrate excellence in areas ranging from banking and insurance to fintech, green finance and ESG, while positioning Hong Kong as a bridge between mainland China and global capital markets.
The Awards are part of a longer story about Hong Kong’s role in weathering financial upheaval and building resilience.
Philip Zhai Pu, executive vice chair of the HCFA, recalled that the Association was founded in 2008 at the height of the global financial crisis.
“We were established in the shadow of Lehman Brothers’ collapse. From the beginning our mission has been to deepen the integration between Hong Kong and the mainland, and to promote innovation in financial services,” said Zhai.
He added that the Awards continue this legacy by creating a platform to showcase exemplary cases, facilitate dialogue and encourage professional collaboration.
“In previous years our Awards attracted support from government departments and regulators, including the Hong Kong Monetary Authority and the Securities and Futures Commission,” he said.
“That shows how much policy attention there is on cross-border finance and innovation. This year we want to expand our reach from Hong Kong to the Greater Bay Area and even onto the global stage.”
Under the token-based system, HCFA’s 1,600-plus members will each receive digital tokens linked to their membership accounts. These tokens will act as ballots, enabling members to cast votes for shortlisted projects via smart contracts.
“Every member is both a potential participant and a judge,” Zou explained. “Your vote is traceable, transparent and tamper-proof. We want people to see that integrity and professionalism are embedded into the process itself.”
Following the initial round of peer voting, a panel of experts, including regulators, academics and industry leaders, will review the top projects to ensure authoritative oversight.
This is a two-tier process, according to Zou, and he explained: “If a project cannot win the recognition of its peers, it has no roots. But without authoritative validation, it may lack credibility. By combining both, we achieve fairness, transparency and trust.”
Simplicity and openness
Zhai said the HCFA is keen to lower barriers to participation. Submissions can be uploaded online, linked directly from company websites, or even presented through short video explainers.
The application process has been simplified so that more professionals and institutions can take part, giving large firms, small teams and individual licensed practitioners a fair chance.
The Awards are not limited to HCFA members, whereas non-members and industry peers are also encouraged to participate since, according to the organiser, it is an open platform.
Integrity and credibility
Integrity and credibility weigh as much as simplicity and openness. “This is not about sponsorships or monetary prizes. The Awards exist to recognise professional achievement, showcase innovation and provide exposure for winners through our platform,” said Zou.
Safeguards against conflicts of interest have also been introduced to require adjudicators to disclose ties and recuse themselves where necessary.
Cross-border focus and RMB internationalisation
Another pillar of the Awards is the focus on cross-border finance.
Alex Yang, vice chair of the HCFA, explained: “Hong Kong is mainland China’s bridge to the world. With new legislation on stablecoins and tokenisation, we have a chance to align with international developments and to attract more global participation.”
This year’s programme includes not only the award ceremony but also a Digital Finance Forum, featuring keynote speeches from regulators and roundtables on compliance, licensing and real-world case studies.
Yang described it as the culmination of the Association’s year-round activities. “The forum is a space where regulators, lawmakers and practitioners can debate and learn from each other. That is how we build both authority and openness.”
He said strengthening cross-border finance and innovation would support renminbi internationalisation, green finance and new mechanisms for fintech co-operation.
Talent schemes, international exchanges and green finance standards were also identified as areas where Shenzhen and Hong Kong can make progress together.
“Cross-border finance is about harmonising standards, sharing talent and building platforms that serve both the real economy and China’s global competitiveness,” he added.
ESG and green finance
Green finance and ESG are also expected to feature strongly among this year’s entries. Zou said the Awards reflect the industry’s shifts and noted that when ESG was gaining traction innovative cases emerged, and when green finance was in focus those projects became more recognised.
“Green finance is not only about sustainability. It also intersects with renminbi internationalisation. Green bonds and carbon trading could become important instruments that expand the currency’s global role,” Ben added.
Recognition for professionals and teams
Unlike some other industry awards that focus solely on institutions, the HCFA also recognises teams and individual licensed professionals.
This is deliberate, according to Zou, noting that Hong Kong’s financial ecosystem includes not only large firms but also skilled individuals and innovative teams, and that giving them equal recognition reinforces fairness and openness.
“Through the Awards, we hope to break new ground for the future of finance and celebrate the success of the industry together,” said Zhai. “We are building a platform of convergence, pioneering innovation and dynamic exchange, and that is the spirit of these Awards.”
