Hong Kong FinTech Week 2020 will take place virtually from Nov 2-6 to allow global fintech businesses and experts from around the world to participate. The week-long event, themed “Humanizing FinTech”, will explore how fintech can unlock the power of financial services to drive positive impacts for society and business. The event will comprise five channels, focusing on the resilience and development of Hong Kong and the Guangdong-Hong Kong-Macao Greater Bay Area, future fintech trends and finance sector growth opportunities. It will also provide a reinvented virtual event experience with artificial intelligence-powered matchmaking, live chat networking opportunities and Hong Kong cultural side events. Co-organized by Invest Hong Kong, the Hong Kong Monetary Authority, the Securities and Futures Commission and the Insurance Authority, Hong Kong FinTech Week is expected to attract more than 25,000 participants from over 70 economies and 350 speakers, along with more than 500 exhibitors and over 30 delegations.

Hong Kong, with its clear and compelling advantages, is well-positioned to be a green finance hub, said Chief Executive Carrie Lam at an online symposium (Oct 23). The Hong Kong Special Administrative Region (HKSAR) Government has been implementing measures for the city to offer the needed financial services and capture the available opportunities. These included the launch of Green Bond Grant Scheme and the establishment of the Hong Kong Green Finance Association in 2018, and the launch of the green bond issuance program in May 2019. Later this year, the Hong Kong Stock Exchange will launch the Sustainable and Green Exchange as a first-of-its kind central hub in Asia for data and information on sustainable and green-finance investment.

Hong Kong’s vibrant fashion and style took to the runway at New York Fashion Week (Feb 6), presenting 36 unique creations by three leading Hong Kong fashion brands – Harrison Wong, Heaven Please+ and Sun=Sen. Aside from the Fashion Hong Kong show, industry elites and style influencers learned more about the latest in Hong Kong’s fashion at the after-show event – Fashion Hong Kong Night. To further promote the city’s fashion brands and foster exchange and collaboration between Hong Kong designers and international buyers, emerging Hong Kong fashion accessories and apparel brands are featured in Fashion Hong Kong Showroom (Feb 4 – Mar 5).

Hong Kong’s Chief Executive, Mrs Carrie Lam, welcomed the passage of the funding application for the Anti-epidemic Fund by the Legislative Council (LegCo) Finance Committee (Feb 21). Mrs Lam conveyed her heartfelt thanks to LegCo Members for their support and approval of the funding application for the HK$30 billion (US$3.8 billion) Anti-epidemic Fund to achieve the objective of fighting the COVID-19 virus. “The Government will continue to assess the impact of the epidemic on society and listen to comments from all sectors, while introducing more support measures as necessary,” she said.

Recognizing that Innovation and Technology is an important growth engine for future economic development, the Government is also supporting a series of measures in this aspect, including the exploration of the development of a third InnoHK research cluster.

The Financial Secretary has also earmarked US$385 million (HK$3 billion) to take forward Phase 2 of the Hong Kong Science Park Expansion Programme and injected US$256 million (HK$2 billion) into the Innovation and Technology Fund to provide matching-basis support for manufacturers setting up smart production lines. The Government will continue to provide enhanced tax deduction for qualifying R&D expenditures and proposed a US$25.6 million (HK$200 million) Green Tech Fund to support the R&D and application of decarbonization and green technologies.

Secretary for Innovation and Technology Nicholas W Yang, spoke on the opportunities presented by Hong Kong’s participation in developing the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) into an international innovation and technology (I&T) hub at a leadership luncheon held in San Francisco (Sep 18) on “Bay-to-Bay” connection and Hong Kong’s technology development. He encouraged US technology enterprises to leverage on the opportunities brought about by the GBA development to achieve a win-win outcome. During his stay in San Francisco (Sep 17-18), Mr Yang visited the Google campus and discussed with its senior management Google Hong Kong’s Smarter Digital City 3.0 white paper. He also paid a visit to Johnson & Johnson (J&J) Innovation’s JLABS to learn more about its incubation program in accelerating healthcare innovation.Mr Yang encouraged J&J to strengthen collaboration with universities in Hong Kong and take part in the Health@InnoHK initiative focusing on healthcare technologies.

Source: Hong Kong Economic and Trade Office, New York.

For daily updates, please click here.

Secretary for Commerce and Economic Development Edward Yau highlighted Hong Kong’s unique status and strengths which make it the best partner in Asia for US businesses to expand operations, build networks, meet great people and explore collaboration with different communities. Speaking at the “Think Asia, Think Hong Kong” Gala Dinner in Los Angeles (Sep 19), Mr Yau said the city’s advanced financial services industry and infrastructure, a unique separate customs territory status and trade autonomy conferred upon Hong Kong by the Basic Law, under the framework of “one country, two systems”. The US was Hong Kong’s second largest trading partner and market for exports in 2018, with bilateral merchandise trade amounting to US$75 billion. Hong Kong and the US enjoy mutually beneficial and expanding strong trade connections. The US consistently has the highest trade surplus with Hong Kong, at US$33.8 billion in 2018, and an aggregate merchandise trade surplus with Hong Kong amounting to US$297 billion from 2009 to 2018. Bilateral ties extend beyond trade and economic relations to encompass people-to-people contacts, educational exchanges, sports and cultural events, innovation and technology development and government-to-government co-operation.

Source: Hong Kong Economic and Trade Office, New York.

For daily updates, please click here