Hong Kong News

Nonpartisan, Noncommercial, unconstrained.
Monday, Mar 04, 2024

Friday Beyond Spotlights – Joseph Chan: The Fintech Capital

Friday Beyond Spotlights – Joseph Chan: The Fintech Capital

Friday Beyond Spotlights, an informative yet light-hearted talk show airing tonight on the Hong Kong International Business Channel (#76), is where prominent guests share their insights into current affairs, business, innovation and culture, as well as their ingenuity, passion and grit which forge their Lion Rock Spirit. The program is hosted by businessman and philanthropist Patrick Tsang On-yip, lawyer and lawmaker Nick Chan Hiu-fung, and seasoned business maverick Herman Hu Shao-ming.

Hosted by Nick Chan, episode 15 of Season 2 presents Joseph Chan Ho-lim, the Under Secretary for Financial Services and the Treasury of the Hong Kong SAR. Hong Kong has long been globally recognised as one of the world’s leading international financial centres. According to Chan, in the equity market Hong Kong raised over HK$100 billion through IPOs in 2022, ranking 4th in the world; in the bond market it ranks No.1 for six consecutive years as the largest arranging centre for international bond (issuance) in Asia; and in risk management it ranks No.2 in the world and No.1 in Asia in terms of insurance density and insurance penetration. The city is also among the world leaders in terms of asset and wealth management business, cross-border wealth management, and offshore renminbi payments.


Chan says Hong Kong is in an excellent position to become the FinTech capital of the Asia-Pacific region. Currently, there are over 800 FinTech companies in Hong Kong, having grown 60 per cent over the past few years. These include eight licensed virtual banks and four licensed virtual insurers. He says the city is the perfect place for FinTech companies to grow because many FinTech companies from Mainland China have set up their offices in Hong Kong to attract foreign investment and also use Hong Kong as a springboard to develop their overseas business; and on the other hand, many FinTech companies from Europe or Americas use the city as the hub to develop business in Asia, especially for attracting funds from Mainland China and entering in the Mainland market. And for FinTech startups, Hong Kong is also an ideal place to develop because of easy access to private equity in a free flow of capital regime.

In the program, Chan shows audiences an ABRSM (Associated Board of the Royal Schools of Music) Grade 8 Piano Certificate as the item which symbolizes his can-do Lion Rock Spirit. Obtained in 1996 in Hong Kong during the summer break of his university education in the US, this certificate represents the persistent efforts he has made to overcome the challenging circumstances to complete his incomplete childhood dream, and also to pay back the sacrifices made by his parents in fulfilling his dream.

Chan believes as an international financial centre, Hong Kong will continue to prosper. “I think the best is yet to come and there are a lot of opportunities coming along. Hong Kong will always serve as a conduit to connect the foreign investors and foreign companies to the Mainland market, and will continue to play a crucial role to facilitate the flow of funds.”

To find out more, watch Season 2, Episode 15 of Friday Beyond Spotlights tonight at 8:30pm on the HKIBC channel (#76).

Watch the trailer of Episode 15 on https://youtu.be/HJpbnMZHPvY

Newsletter

Related Articles

Hong Kong News
0:00
0:00
Close
It's always the people with the dirty hands pointing their fingers
Paper straws found to contain long-lasting and potentially toxic chemicals - study
FTX's Bankman-Fried headed for jail after judge revokes bail
Blackrock gets half a trillion dollar deal to rebuild Ukraine
Steve Jobs' Son Launches Venture Capital Firm With $200 Million For Cancer Treatments
Google reshuffles Assistant unit, lays off some staffers, to 'supercharge' products with A.I.
End of Viagra? FDA approved a gel against erectile dysfunction
UK sanctions Russians judges over dual British national Kara-Murza's trial
US restricts visa-free travel for Hungarian passport holders because of security concerns
America's First New Nuclear Reactor in Nearly Seven Years Begins Operations
Southeast Asia moves closer to economic unity with new regional payments system
Political leader from South Africa, Julius Malema, led violent racist chants at a massive rally on Saturday
Today Hunter Biden’s best friend and business associate, Devon Archer, testified that Joe Biden met in Georgetown with Russian Moscow Mayor's Wife Yelena Baturina who later paid Hunter Biden $3.5 million in so called “consulting fees”
'I am not your servant': IndiGo crew member, passenger get into row over airline meal
Singapore Carries Out First Execution of a Woman in Two Decades Amid Capital Punishment Debate
Spanish Citizenship Granted to Iranian chess player who removed hijab
US Senate Republican Mitch McConnell freezes up, leaves press conference
Speaker McCarthy says the United States House of Representatives is getting ready to impeach Joe Biden.
San Francisco car crash
This camera man is a genius
3D ad in front of Burj Khalifa
Next level gaming
BMW driver…
Google testing journalism AI. We are doing it already 2 years, and without Google biased propoganda and manipulated censorship
Unlike illegal imigrants coming by boats - US Citizens Will Need Visa To Travel To Europe in 2024
Musk announces Twitter name and logo change to X.com
The politician and the journalist lost control and started fighting on live broadcast.
The future of sports
Unveiling the Black Hole: The Mysterious Fate of EU's Aid to Ukraine
Farewell to a Music Titan: Tony Bennett, Renowned Jazz and Pop Vocalist, Passes Away at 96
Alarming Behavior Among Florida's Sharks Raises Concerns Over Possible Cocaine Exposure
Transgender Exclusion in Miss Italy Stirs Controversy Amidst Changing Global Beauty Pageant Landscape
Joe Biden admitted, in his own words, that he delivered what he promised in exchange for the $10 million bribe he received from the Ukraine Oil Company.
TikTok Takes On Spotify And Apple, Launches Own Music Service
Global Trend: Using Anti-Fake News Laws as Censorship Tools - A Deep Dive into Tunisia's Scenario
Arresting Putin During South African Visit Would Equate to War Declaration, Asserts President Ramaphosa
Hacktivist Collective Anonymous Launches 'Project Disclosure' to Unearth Information on UFOs and ETIs
Typo sends millions of US military emails to Russian ally Mali
Server Arrested For Theft After Refusing To Pay A Table's $100 Restaurant Bill When They Dined & Dashed
The Changing Face of Europe: How Mass Migration is Reshaping the Political Landscape
China Urges EU to Clarify Strategic Partnership Amid Trade Tensions
The Last Pour: Anchor Brewing, America's Pioneer Craft Brewer, Closes After 127 Years
Democracy not: EU's Digital Commissioner Considers Shutting Down Social Media Platforms Amid Social Unrest
Sarah Silverman and Renowned Authors Lodge Copyright Infringement Case Against OpenAI and Meta
Why Do Tech Executives Support Kennedy Jr.?
The New York Times Announces Closure of its Sports Section in Favor of The Athletic
BBC Anchor Huw Edwards Hospitalized Amid Child Sex Abuse Allegations, Family Confirms
Florida Attorney General requests Meta CEO's testimony on company's platforms' alleged facilitation of illicit activities
The Distorted Mirror of actual approval ratings: Examining the True Threat to Democracy Beyond the Persona of Putin
40,000 child slaves in Congo are forced to work in cobalt mines so we can drive electric cars.
×