The Financial Services and the Treasury Bureau (FSTB) extended its warm welcome to Manulife (International) Limited today (March 23) for its plan to expand investment and operation in Hong Kong, following its re-domiciliation to Hong Kong last December. The plan includes the further increase in AI investment and posting its Chief Artificial Intelligence Officer, Asia, to Hong Kong, fully demonstrating its unwavering confidence in Hong Kong as an international financial centre and a hub for AI development.

     The Secretary for Financial Services and the Treasury, Mr Christopher Hui, said, "Manulife's AI investment expansion plan will help drive digital transformation and innovation application in the insurance industry, showcasing Hong Kong's regional leadership in the 'finance + AI' field. The FSTB will continue to work closely with regulators and the industry to actively encourage financial institutions to adopt AI in a responsible manner, continuously optimise the regulatory regime, promote the deep integration of AI and the financial sector, and help Hong Kong seize opportunities from the global technology revolution for further consolidation of its status as an international financial centre.

     "During my visit to Canada in May last year, I personally showcased to Manulife's senior management the unique advantages of Hong Kong, bringing about the fruitful outcome of the company becoming the first insurance company re-domiciled to Hong Kong in December 2025 upon the implementation of the company re-domiciliation regime. Following the re-domiciliation, Manulife's posting of a key senior position related to AI to Hong Kong, coupled with plans to enhance investment in AI research, development and application, reaffirms the city's strategic importance within the group's global business portfolio and will surely inject new momentum into the local fintech ecosystem."

     Mr Hui added, "The series of major initiatives of expansion of investment and operation in Hong Kong pursued by Manulife underscore not only the advantageous business environment of Hong Kong but also the persistent efforts by different parties. I would like to thank colleagues from our Bureau, the Companies Registry, the Insurance Authority and others for their continuous hard work in building a favourable environment for the insurance industry to develop. My gratitude also goes to the insurance sector for always maintaining a high professional standard, which makes the investment environment in Hong Kong even more attractive."

     AI is a core engine for promoting the high-quality development of Hong Kong's financial sector. The 2026-27 Budget explicitly proposes building a complete ecosystem conducive to AI applications, and the FSTB's Policy Statement on Responsible Application of Artificial Intelligence in the Financial Market, issued in October 2024, articulates a "dual-track parallel" policy approach: promoting the safe and responsible application of AI by financial institutions, while emphasising the importance of cybersecurity, data privacy protection, and intellectual property protection, providing solid policy support for AI investment plans by institutions like Manulife.

     The Government and regulator have made notable achievements in attracting investment for the insurance industry in recent years. Apart from Manulife's successful re-domiciliation and its plan to expand investment and operation in Hong Kong, the Insurance Authority also announced on March 3 the grant of authorisation to the captive insurer set up in Hong Kong by the China National Nuclear Corporation, reflecting Hong Kong's attractiveness to local and overseas enterprises as a hub for captive insurance in Asia. There are currently seven captive insurers in Hong Kong.

Ends/Monday, March 23, 2026
Issued at HKT 15:20

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