The Hong Kong FinTech Week (HKFW) 2023 has concluded, marking the close of a week filled with substantive discussions and displays of cutting-edge fintech innovations. The event achieved a remarkable attendance record of over 35,000 attendees and attracted over 5.5 million online views from more than 100 countries. With over 800 speakers and 700 exhibitors, the event firmly cemented Hong Kong’s position as a global frontrunner in the swiftly evolving fintech landscape.
The main conference, themed “Fintech Redefined.”, explored six key topics, including global regulations, artificial intelligence, and the innovative Greater Bay Area. Mr. John Lee, Chief Executive of Hong Kong, inaugurated the event by accentuating the city’s distinct advantages under the ‘one country, two systems’ principle. Mr. Paul Chan, the Financial Secretary, underscored the substantive benefits of fintech in enhancing the accessibility and efficiency of financial services.
Mr. Zhang Qingsong, Deputy Governor of the People’s Bank of China, emphasized the role of fintech in facilitating inclusive finance in the Greater Bay Area. The event also witnessed the launch of initiatives aimed at fostering collaboration between fintech and the real economy.
A pivotal moment of the event was the announcement by the HKMA of Phase 2 of the e-HKD Pilot Programme, scheduled to commence in the coming year. Furthermore, the HKMA is actively working to launch a new service, known as FPS x PromptPay QR Payment, in close collaboration with the Bank of Thailand.
Mr. Clement Cheung, CEO of the Insurance Authority (IA), identified cyber-resilience and climate change as two key areas for the insurance sector to address. The event also highlighted various opportunities for the broader application of fintech, particularly in e-commerce, as noted by Dr. Bernard Chan, the Acting Secretary for Commerce and Economic Development.
The significance of virtual assets, Web3, and AI was also underscored through engaging discussions and sessions. Important announcements were made regarding the development of transformative Web3 applications, such as the Web3 Decentralised Physical Infrastructure Networks (DePIN) Hong Kong initiative and the integration of blockchain protocols to support digital assets.
The event culminated with the announcement of Libertify as the grand winner of the Global Fast Track’s Global Scaleup Competition 2023, a France-based AI risk management solution provider. The competition offered potential equity investment of up to US$3,000,000 and mentorship opportunities with the Accenture Fintech Innovation Lab.
In conclusion, the Hong Kong FinTech Week 2023 effectively showcased the city’s thriving innovation and technology ecosystem, setting the stage for the future of fintech as it continues to redefine the industry and transform the real economy. For further information, visit https://www.fintechweek.hk/ and follow the official social media accounts.
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