Interested
in starting or expanding your Fintech business into Hong Kong? As
Asia’s key Industrial and Financial hub, Hong Kong has been an important
conduit to mainland China for decades. As a result of this power,
nearly every global bank has a presence in Hong Kong. Now, the Hong Kong
Monetary Authority (HKMA) has announced the issuance of the very first
virtual banking licenses, making Hong Kong even more essential in the
scope of innovation in financial services and Fintech.
Norman T.L. Chan, Chief Executive of the HKMA, made the announcement saying; “The
introduction of virtual banks in Hong Kong is a key pillar supporting
Hong Kong’s entry into the Smart Banking Era. It is a major milestone in
reinforcing Hong Kong’s position as a premier international financial
centre. I believe that virtual banks will not only help drive FinTech
and innovation, but also bring about brand new customer experiences and
further promote financial inclusion in Hong Kong.”
What does this mean for your company?
Good
News! Hopefully less red tape and a more efficient process in the
banking arena as well as an enormous growth in crucial innovation and
resources. Including the addition of digital payments, blockchain
development, virtual banking, insurtech and more. The Hong Kong
government is making a significant commitment to propelling sector
growth, with a 2018 budget pledge to earmark HK$10 Billion
(approximately USD $7.8 billion) to the development of financial
services and Fintech over the next five years. Have any other
governments done the same?
It’s
a safe bet that investing in a business expansion or startup in Hong
Kong will be beneficial for both parties, as Hong Kong begins its rise
into becoming a global Fintech Hub.
Primasia Corporate Services is
a leading professional provider of corporate services, with over 30
years of experience assisting companies in expanding their business to
Asia, particularly in Hong Kong, China, and other offshore
jurisdictions. When you are ready to set up your ecommerce business or
startup in Hong Kong and/or China, contact Primasia to get started.
Whatever your requirements, we can help you succeed!
Connect with Primasia Corporate Services Limited
Hong Kong Headquarters: Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong
Website: https://www.primasia.hk/
Twitter: https://twitter.com/PrimasiaHK
Credit: Prosperity Research Digital Agency(PRDA): PRDA's Founder Douglas White developer of proven 5 step, 4 KPIs process of Social Media Marketing.
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