All Eyes on Asia for Fintech Growth
This robust growth is set to continue as the fintech market is projected to reach US$72 billion by 2020.
Dramatic growth in the use of fintech and smart banking – and how California businesses, entrepreneurs and investors can profit from the breakthrough in these areas in the Asia-Pacific region – will be key topics at the “Think Asia, Think Hong Kong” (TATHK) Symposium to be held on September 20 at the JW Marriott in downtown Los Angeles.
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Dr Peter K N Lam, Chairman, Hong Kong Trade Development Council (Photo: Business Wire)
According to a report by Deloitte and Robocash, fintech investments in Southeast Asian countries in 2018 exceeded the US$5.7 billion invested in 2017 by 20-30%. This robust growth is set to continue as the fintech market is projected to reach US$72 billion by 2020. Meanwhile, Hong Kong ranked No. 1 in Asia in the Ernst & Young’s Fintech Adoption Index for 2017, when 48 of the world’s leading 100 fintech companies were availing themselves of the city’s technologically advanced ecosystem, supported by a strong telecommunications industry which has attracted major cloud service companies from the United States and elsewhere. Hong Kong is therefore best placed to help US companies capitalize on opportunities arising from Asia’s fintech development.
Ways to partner with Hong Kong and share the region’s fintech growth will be discussed at the “Think Asia, Think Hong Kong” Symposium, organized by the Hong Kong Trade Development Council (HKTDC) and expected to attract more than 1,500 attendees. The breakout session titled “Smart Banking empowering rapid fintech development in Hong Kong” will address trends and emerging opportunities in smart banking and fintech. The panel discussion, chaired by Eddie Yue, Deputy Chief Executive of the Hong Kong Monetary Authority, will bring together some of Hong Kong’s key fintech stakeholders, including Hugh Chow, CEO of the Hong Kong Applied Science and Technology Research Institute, which was founded by the Hong Kong government in 2000; Urszula McCormack, Partner of King & Wood Mallesons, a global law firm experienced in fintech matters; Wayne Xu, President of ZhongAn International, which is applying trailblazing utilization of blockchain in the insurance industry; and Greg Hingston, Head of Retail Banking and Wealth Management at global financial services giant HSBC.
Another finance-themed breakout session, “Think Finance, Think Hong Kong”, chaired by Christopher Hui, Executive Director of the Financial Services Development Council, will feature such industry leaders as Romnesh Lamba, Co-President of the Hong Kong Exchanges and Clearing Limited, and Bonnie Chan, Partner at global law firm Davis Polk & Wardwell. They will present the investment outlook for Asia and how US businesses can capitalize on Hong Kong’s unique strengths and role in regional development strategies such as the Belt and Road Initiative and the Guangdong-Hong Kong-Macao Greater Bay Area development.
The day-long mega conference will also include other thematic breakout sessions featuring globally prominent business leaders, entrepreneurs, designers, investors and services professionals along with a Hong Kong start-up showcase. One-on-one business consultations with Hong Kong professional services experts and business-matching meetings will be arranged throughout the day, in addition to exclusive networking opportunities for attendees.
For more details and free registration, please refer to the TATHK website (www.thinkasiathinkhk.com) or mobile app.
About HKTDC
The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via trade publications, research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn.
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