Tang Shu-ming: Hong Kong's fintech boom reaches a record high of 4,694 startups in 2024

The Zhitong Finance App learned that on March 13, ET Net (ET Net), the leading professional financial information platform in the Hong Kong financial industry, held the “2024 Fintech Awards” award ceremony. Tang Suk-ming, founder and honorary chairman of the Smart City Alliance, said that Hong Kong's fintech sector has been booming for 8 years. Currently, there are nearly 1,100 fintech companies in Hong Kong, accounting for about 20% of fintech in the Asia-Pacific region. The businesses include mobile payments, cross-border financial management, and artificial intelligence.

She pointed out that Hong Kong's fintech companies include 8 digital banks, 4 virtual insurance companies, and 9 licensed virtual asset trading platforms. Among them, 4 unicorn companies working in the fintech sector have established their headquarters in Hong Kong. It can be seen that Hong Kong is a bridgehead for fintech companies.

She also pointed out that Hong Kong is the most promising fintech ecosystem. According to the 2024 Startup Statistics Survey published by the Investment Promotion Department, the number of startups in Hong Kong has increased to 4,694, a record high, of which 619 are engaged in fintech businesses, proving that Hong Kong is a hub for fintech centers.

As for the report on the work of the government, Hong Kong should continue to deepen international exchanges and cooperation and better integrate into the overall development agenda of the country. Tang Suk-ming pointed out that Hong Kong has always played an important role as an international contact. In the future, Hong Kong will continue to actively engage in internal and external communication and continue to strengthen cooperation and interaction with international and mainland financial enterprises. I believe it can not only consolidate Hong Kong's position as an international financial center, but also contribute to the country's goal of becoming a financial power.