24 June 2018
Register for the webinar today

HK Government goes all in on fintech

25 February 2016  |  13103 views  |  1 Hong kong modern building

Hong Kong's financial secretary John Tsang Chun-wah reserved a special mention for fintech in his budget speech on Wednesday, promising to pump cash into the startup ecosystem and create a dedicated space to support up to 150 new financial technology companies over the next five year.

Tsang said the Government would follow up on measures recommended by the Steering Group on Financial Technologies, which he set up last year to examine the direction of fintech in Hong Kong.

Under the proposals, a dedicated team, under Invest Hong Kong, will be set up to organise international events and encourage fintech start-ups, investors and R&D institutions to set up in Hong Kong. An additional 3,000 square metres of co-working office space will also be made available to fintech firms at the Cyberport digital hub.

"The Enterprise Support Scheme, under the Innovation and Technology Fund, will assist start-ups and financial institutions," Chun-wah told Parliament. "And Cyberport will set aside a dedicated space for fintech start-ups, and roll out a designated programme to support up to 150 fintech start-ups over the next five years. It will also arrange for 300 university students to join Fintech training camps at overseas universities."

Comments: (1)

Jean-Pierre Xiao-Min Wang
Jean-Pierre Xiao-Min Wang - IndiceA - Sophia-Antipolis, France 25 February, 2016, 14:12

HK Government goes all in on Fintech:

“ The world is changing very fast. Big will not beat small anymore. It will be the fast beating the slow ”  

--- Rupert Murdoch

Be the first to give this comment the thumbs up 0 thumb ups!
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Standard Chartered partners with Baidu to 'SuperCharge' fintech innovation

Standard Chartered partners with Baidu to 'SuperCharge' fintech innovation

12 January 2016  |  9412 views  |  0 comments | 25 tweets | 11 linkedin
HKEx backs Hong Kong fintech accelerator

HKEx backs Hong Kong fintech accelerator

02 November 2015  |  5197 views  |  0 comments | 9 tweets | 1 linkedin
Standard Chartered and Baidu launch Hong Kong fintech accelerator

Standard Chartered and Baidu launch Hong Kong fintech accelerator

06 October 2015  |  7949 views  |  0 comments | 7 tweets | 6 linkedin
DBS Hong Kong kicks off inaugural accelerator programme

DBS Hong Kong kicks off inaugural accelerator programme

04 August 2015  |  7269 views  |  0 comments | 13 tweets | 5 linkedin
DBS opens dedicated startup space in Hong Kong

DBS opens dedicated startup space in Hong Kong

25 June 2015  |  9896 views  |  0 comments | 11 tweets | 6 linkedin
Level39 and Nest open startup trade route between London and Hong Kong

Level39 and Nest open startup trade route between London and Hong Kong

28 January 2015  |  6527 views  |  0 comments | 10 tweets
Fintech Innovation Lab lands in Hong Kong

Fintech Innovation Lab lands in Hong Kong

12 June 2014  |  13748 views  |  0 comments | 14 tweets | 2 linkedin

Related blogs

Create a blog about this story (membership required)
Visit https://secure.vasco.comVisit https://info.nice.com/

Top topics

Most viewed Most shared
GPS raises £44 million to fund international growthGPS raises £44 million to fund intern...
26651 views comments | 7 tweets | 8 linkedin
Robots save Nordea from GDPR processing nightmareRobots save Nordea from GDPR processing ni...
9401 views comments | 10 tweets | 18 linkedin
BIS: Cryptocurrencies are an environmental disaster that could break the InternetBIS: Cryptocurrencies are an environmental...
8860 views comments | 18 tweets | 23 linkedin
ING and BNP Paribas invest in blockchain-powered trade platform TradeIXING and BNP Paribas invest in blockchain-p...
7393 views comments | 15 tweets | 27 linkedin

Featured job

Competitive base, double ote, benefits
New York, Boston, Chicago, Philadelphia, USA

Find your next job