Asset managers say HK is fertile ground for fintech ecosystem

Asset managers and business leaders said Hong Kong has talent, capital, and location edge to become a vibrant global hub for fintech. In an interview with SCMP, JPMorgan Chase’s CEO Mary Callahan Erdoes said the city is home to high-quality talent not seen anywhere else. She added that some of the apps built in Hong Kong are going to become core technology platforms for much of what the bank is doing around the world. Financial Secretary Paul Chan Mo-po also voiced his desire to push Hong Kong as a global centre for virtual assets. Digital assets have boomed in popularity in recent years due to the proliferation of non-fungible tokens and cryptocurrency trading. Bing Li, head of Asia-Pacific at Bloomberg, said Hong Kong’s position as an international financial centre provides it with an “advantageous location in the Greater Bay Area”.