Hong Kong Fintech Week 2024 opens with US$2.4 bn invested in 60 startups
During the opening of "Hong Kong Fintech Week 2024" today (Oct. 28), Financial Secretary Paul Chan highlighted that this year, 60 Hong Kong startups attracted over US$2.4 billion in investment, significantly boosting the region's fintech development.
Chan discussed Hong Kong's attractiveness citing its openness, freedom, innovative and technological ecosystem, comprehensive financial services, complete business and innovation regulatory framework, and the application scenarios and connectivity offered by the Greater Bay Area and Greater China to bridge China with the world. He also mentioned that Hong Kong's appeal is expanding to the Middle East, demonstrating its global influence and attractiveness in the fintech sector.
Chan emphasized the vital role of large tech startups, noting their drive for excellence and their vision to make financial services more competitive, inclusive, and accessible. He expressed confidence that the event would showcase many such enterprises and individuals.
Looking forward, Chan pointed out synthetic biology and artificial intelligence as exciting areas of potential.
"The government intends to embrace leading innovative technologies in finance, although new technologies could pose risks to consumers, investors, and the financial system at large."
Chan stressed the necessity of regulation to ensure the sustainable and healthy development of new technologies.
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