visimoney
TLDR:
- Green fintech companies in Hong Kong need to integrate with multiple sectors beyond finance to serve the real economy effectively.
- There are around 1,000 fintech companies in Hong Kong, with a 25% growth in 2023.
Players in Hong Kong’s green fintech sector were urged to expand their integration with various industries to better serve the economy at a recent summit. The sector, which has seen significant growth in recent years, is not limited to finance alone. According to Jason Tu, founder of MioTech, green fintech has a much broader scope and potential influence on the real economy. To ensure the success and growth of green technologies in Hong Kong, it is crucial for green fintech players to collaborate with sectors beyond finance, such as compliance and technology.
Joseph Chan Ho-lim, the under secretary for Financial Services and the Treasury, highlighted the government’s commitment to supporting green fintech initiatives through a proof-of-concept subsidy scheme. This initiative aims to provide funding support for early-stage green fintech projects. By encouraging collaboration between fintech and green finance, Hong Kong aims to solidify its position as a leading hub for green technology and finance in the region.
The Green Fintech Summit, held as part of Hong Kong Green Week, showcased the city’s commitment to sustainability and innovation in the financial sector. With the unveiling of the Hong Kong Green FinTech Map and a focus on green and sustainable bond issuance, Hong Kong is poised to lead the region in green technology development and financial services.
