Hong Kong promoted as Asia's premier centre for financial technology industry (with photo)

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     The Hong Kong Economic and Trade Office in Berlin (HKETO Berlin) and Invest Hong Kong held a financial technology (FinTech) roundtable in Berlin yesterday (January 24, Berlin time), outlining government policy initiatives supporting the development of Hong Kong, the "super-connector" to the Mainland of China and Asia, into a premier FinTech hub in the region. The roundtable attracted aspiring German financial start-ups interested in taking part in the rapidly developing FinTech scene in Asia.

     The financial services sector is one of Hong Kong's pillar industries, accounting for over 17 per cent of Hong Kong’s gross domestic product in 2016 and providing a first-rate environment for application of FinTech. The Under Secretary for Financial Services and the Treasury of the Government of the Hong Kong Special Administrative Region (HKSAR), Mr James Lau, participated in the roundtable and introduced Hong Kong’s competitive advantages in developing FinTech by providing a conducive ecology for innovators to tap into the enormous potential for applying FinTech in Mainland China and Asia.

     "The HKSAR Government and regulators have been working closely with other stakeholders to implement a range of measures to support FinTech development in Hong Kong," Mr Lau emphasised. "With its well-defined legal system and cosmopolitan business environment, as well as its renowned financial system and international status, the city is set to find its place as one of the world's leading FinTech centres." In Berlin, Mr Lau also met with the Envoy of the Chinese Embassy in Germany, Mr Zhang Junhui.

     Today (January 25, Wiesbaden time), Mr Lau will participate in the G20 Conference in Wiesbaden, Germany, co-organised by the German Federal Ministry of Finance and the Deutsche Bundesbank. He will speak at the panel of "Digitising finance, financial inclusion and financial literacy". Mr Lau will also meet with the Chinese Consul-General in Frankfurt, Mr Wang Shunqing, while in Frankfurt.

About HKETO Berlin

     HKETO Berlin is the official HKSAR Government representative in commercial relations and other economic and trade matters in Germany as well as Poland, Austria, the Czech Republic, Hungary, Slovakia, Slovenia and Switzerland.

Ends/Wednesday, January 25, 2017
Issued at HKT 22:00

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Photo

The Under Secretary for Financial Services and the Treasury, Mr James Lau (fourth right), speaks at a financial technology roundtable in Berlin on January 24 (Berlin time).