Hong Kong has signed a fintech agreement with the UK to foster bilateral collaboration in promoting financial innovation.
Witnessed by Chief Executive Carrie Lam, Secretary for Financial Services & the Treasury James Lau and UK Chancellor of the Exchequer Philip Hammond, Special Representative for Hong Kong Economic & Trade Affairs to the European Union Shirley Lam and Director General for Financial Services of the UK Katharine Braddick signed the pact in London yesterday.
It provides a solid framework for fintech firms from the two places to share facilities and know-how to explore new business opportunities.
Mr Lau said the agreement shows the Government's staunch efforts in promoting fintech development and collaboration with other fintech hubs.
"With strengthened co-operation with the UK in fintech development and promotion, we hope to see Hong Kong's homegrown fintech firms grow and expand their business to the UK.
"We also welcome UK fintech firms to establish presence in Hong Kong and to use Hong Kong as a gateway to tap into the Mainland and Asian markets."
During his visit to London, Mr Lau also visited Accenture's Fintech Innovation Lab and the Royal Bank of Scotland to learn about the latest developments on the UK fintech scene.
He also met members of the All-Party Parliamentary groups on China and fintech to discuss the global economic outlook and green finance.
Mr Lau will join Mrs Lam's visit programme in London today and tomorrow.
