Hong Kong

Fintech Reaches Mainstream Adoption in Hong Kong with 94% Penetration

In Hong Kong, fintech is reaching mainstream adoption among consumers. Digital payments are becoming the norm in people’s daily lives, virtual banking and wealthtech are gaining rapid traction, and virtual assets are emerging as a legitimate new asset class that

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Hong Kong Urges FSI to Support Crypto Firms With ‘Basic Banking Services’

The Hong Kong Monetary Authority (HKMA) has urged the banking sector to provide services to licensed virtual-asset firms as part of the city’s ambition to become a leading crypto hub. Last week, the Hong Kong financial regulator issued a circular

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11 Must-Attend Fintech Events in Hong Kong in 2023

After more than two years with its borders closed, Hong Kong has finally loosened its pandemic-related restrictions, first, by reopening to non-residents May 1, 2022, and then, in September 2022, by removing quarantines for arrivals. Most recently, Hong Kong and

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Hong Kong Trails Behind Singapore in Digital Insurance

Hong Kong is being overshadowed by Western countries and Singapore in online insurance, a lag that can be partly explained by the Hong Kong insurance industry’s heavy reliance on physical agents, a new report by French consultancy Sia Partners says.

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SMEs Remain Confident in Growth Prospects of the Greater Bay Area

In the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), small and medium-sized enterprises (SMEs) are confident in the growth prospects of the region, an optimism that’s evidenced by their plans to invest in capital expenditures and expand their business, a new

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Hong Kong’s Banking Customers Expectations Are Shifting — Here Are The Key Findings

In Hong Kong, COVID-19, the advent of virtual banks and changing customers’ expectations are transforming the retail banking landscape, prompting customers to increase their usage of online channels and embrace digital financial products, a new survey by Bain and Company

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5 Hong Kong Fintech Startups Making Inroads in Web3

It has been a tumultuous couple of years for the bustling fintech scene as well as Web3 startups in Hong Kong. As the world grappled with the fallout of the COVID-19 pandemic, US-China tensions, and Hong Kong itself came to

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Hong Kong’s Lending Business Enter Recovery Mode as Consumer Sentiments Improve

In Q2 and Q3 2022, consumer credit activity in Hong Kong increased in key product categories amid eased COVID-19 restrictions, the launch of Phase II of the Consumption Voucher, as well as improved consumer sentiment and employment situations, new findings

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Salary is the Top Issue Exacerbating Hong Kong’s Fintech Talent Gap

The HKU-SCF Fintech Academy, Cyberport and Hong Kong Productivity Council have published a Fintech Talent Study Report which found an urgent need to nurture more talents to address the fintech talent gap. The report, which was unveiled at the Hong

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Hong Kong Fintech Week 2022 Key Highlights and Announcements

The 2022 Hong Kong Fintech Week is being held this week, bringing together tens of thousands of industry leaders, policymakers and fintech innovators to discuss some of the biggest opportunities in the fintech industry as well as the challenges faced

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