SFST's speech at press conference on Hong Kong FinTech Week 2025 (English only)
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Ladies and gentlemen,
Good afternoon, and thank you for joining us today. It is with immense pleasure that I unveil the details of this year's highly anticipated Hong Kong FinTech Week 2025.
This year marks a historic milestone - the 10th anniversary of the event. I have been privileged to witness the tremendous growth and evolution of this event in the past years. This remarkable year is graced with new records. We are welcoming over 37 000 executives, more than 800 renowned speakers, and 700 exhibitors from over 100 economies to celebrate with us.
This powerhouse event, together with the StartmeupHK Festival, will demonstrate how Hong Kong is leveraging technological convergence to elevate the economic impact of fintech and innovation on a global scale.
Hong Kong's credentials as a fintech leader are not just claims - they are hard, global facts. Consistently ranked among the world's top three international financial centres and as a leader in Asia, Hong Kong has taken bold strides to solidify its position as a leader in fintech as well.
Today, Hong Kong's fintech hub is ranked number one globally under the latest Global Financial Centers Index. Our city is home to more than 1 100 fintech firms, and the fintech sector is projected to reach US$606 billion in total revenue by 2032, with an impressive annual growth rate of 28.5 per cent.
In the first half of this year, Hong Kong was also ranked first globally in terms of the amount of funds raised through IPOs (initial public offerings), with many advanced technology companies listing on our exchange.
FinTech Week this year carries the theme "Curating the New Fintech Era". It is indeed our promise: Hong Kong will not just adapt to the future of fintech. We will lead, we will build and continue to stay at the forefront of it.
None of this success happens by accident. It comes from sustained policy vision, unwavering public-private collaboration, and a commitment to balancing innovation with security. Let me highlight the milestones we have achieved over the past year.
On digital assets, our Policy Statement 2.0 on the Development of Digital Assets in Hong Kong issued in June this year sets out our vision for a trusted and innovative ecosystem that prioritises risk management and investor protection. We also implemented the Stablecoins Ordinance in August to establish a licensing regime for stablecoin issuers, on top of our existing regulatory framework for virtual asset trading platforms that commenced in June two years ago.
On AI (artificial intelligence), we issued a policy statement on responsible adoption of AI in the financial market last October, and have launched two cohorts of GenA.I. Sandbox to assist banks in exploring generative AI's capabilities in enhancing risk management, anti-fraud measures and customer experience.
On e-payment, we launched Payment Connect with the People's Bank of China in June this year to implement the linkage of the Internet Banking Payment System on the Mainland and the Faster Payment System, with a view to supporting secure, efficient and also convenient real-time cross-boundary payments.
We also continue to enhance the financial infrastructure, such as the Commercial Data Interchange, and the Central Bank Digital Currency, to explore integrating fintech with the real economy.
Each of these initiatives reflects the collaboration among the Government, financial regulators and industry players. We turn ideas into action, and at the same time action into global leadership.
Looking ahead, we are doubling down on this momentum with a clear, forward-focused strategy. As highlighted in the latest Policy Address, we will leverage the ongoing asset reallocation wave by global investors to consolidate our status as an international financial centre. We will drive fintech development and promote green and sustainable finance to capitalise on these new growth opportunities. This is not just about maintaining our lead; it is about shaping the next chapter of global finance, where capital flows more intelligently and technology addresses real-world economic challenges.
This year Hong Kong FinTech Week will serve this purpose. It will bring together global finance and tech leaders, policymakers, and investors to collaborate, and curate the new fintech era.
So I invite each of you, every one of you here today to join us. Let's explore the boundless possibilities of fintech. Let us pave the way for a connected, efficient, and sustainable global economy. Thank you.
Ends/Friday, October 17, 2025
Issued at HKT 15:33
Issued at HKT 15:33
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