The Financial Leaders Forum, chaired by the Financial Secretary, Mr Paul Chan, held its fourth meeting today (May 8).

     At today's meeting, Members were briefed by the Insurance Authority (IA) on the overall strategy for promoting the development of the insurance sector in Hong Kong. Appreciating the efforts of the Government and the IA, Members endorsed the strategy to take forward various measures in the short, medium and long term to promote the sector, particularly in the areas of reinsurance and captive insurance. Members opined that to further enhance Hong Kong's role as a regional insurance hub, efforts should be stepped up to capitalise on the opportunities arising from the Belt and Road Initiative and the Guangdong-Hong Kong-Macao Bay Area (Bay Area) development.

     Members were also briefed on the development of Fintech in Hong Kong. They were pleased to note that with the concerted efforts of the Government, financial regulators, innovation partners (e.g. Cyberport) and industry players, the Fintech ecology in Hong Kong had become increasingly vibrant over the years. Riding on the five-pronged approach in facilitating Fintech development (i.e. promotion, facilitation, regulations, talents and funding), Members were of the view that Fintech collaboration in the Bay Area could be further explored for mutual benefits. 

     The Forum will meet again in the next quarter.

Ends/Tuesday, May 8, 2018
Issued at HKT 19:05

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