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Hong Kong News

First batch of virtual banking license granted

The Hong Kong Monetary Authority (HKMA) has granted virtual banking licenses to Livi VB, SC Digital Solutions and ZhongAn Virtual Finance, effective Mar 27. Chief Executive of HKMA Norman Chan said the introduction of virtual banks is a key pillar supporting the city’s entry into the Smart Banking Era and is a major milestone in reinforcing Hong Kong’s position as a premier international financial center. According to the regulator, five more applications are in the pipeline.

 

 

 

Source: Hong Kong Economic & Trade Office

HK and US to strengthen mutual co-operation

 

 

 

 

 

 

Chief Executive Carrie Lam expressed the hope that Hong Kong and US will strengthen mutually beneficial co-operation and expand common interests during a meeting with members of Congressional US-China Working Group (Mar 18). With Hong Kong striving to advance the development of I&T, she encouraged more US institutions and technology firms to establish a presence in the city. The US is Hong Kong’s second largest trading partner and enjoys the highest trade surplus with Hong Kong among all other economies.

 

 

 

Source: Hong Kong Economic & Trade Office

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