Fintech Forum 2025 Opens in Hong Kong
Policymakers, Regulators, and Industry Leaders Convene to Explore Innovation, Regulation and the Future of Banking
Co-organised by the Hong Kong Association of Banks and the Chinese Banking Association of Hong Kong, and supported by Hong Kong Cyberport Management Company Limited, the Fintech Forum 2025 was held at Cyberport under the theme “Envisioning the Future of Banking” on 28 August 2025. Against the backdrop of rapid fintech developments and global economic changes, the Forum gathered senior officials and executives from regulatory bodies, financial institutions and technology companies, as well as local and regional banking associations. The Forum focused on how artificial intelligence and tokenisation are reshaping the regulatory frameworks and banking operations. Anchored in Hong Kong’s distinctive market and regulatory environment, the Forum aims to deepen fintech applications, strengthen policy coordination, and advance Hong Kong’s contributions as an international financial centre in the era of intelligent finance.
Policymakers Set the Strategic Agenda
The Honourable Paul Chan, the Financial Secretary of Hong Kong Special Administrative Region, delivered a keynote address outlining the Government’s strategic vision for advancing fintech development. “The Hong Kong SAR Government is pro-innovation and pro-tech,” Mr Chan stated. “In the process, we ensure that risks are properly identified and responsibly managed. Our regulators are not only supervisors enforcing compliance, but also enablers shaping the future of finance. For example, through regulatory sandboxes, innovators and regulators work together to test new technologies, even co-developing new solutions.” Mr Chan highlighted that under the “one country, two systems” framework, Hong Kong’s unique blend of global connectivity, deep liquidity and world-class expertise makes it an ideal two-way platform for fintech development. He stressed that Hong Kong’s fintech solutions must extend beyond local needs and embrace a global outlook. On digital assets, Mr Chan reiterated the Government’s commitment to building a transparent, fair, and risk-based regime – one that adapts to innovation while safeguarding investors, consumers and financial stability. He noted that digital assets must serve the real economy. Looking into the future, Mr Chan stated that AI, combined with blockchain and other new technologies, would be able to improve the efficiency of financial services and financial inclusion. However, AI may also pose challenges to the operation of financial services and, ultimately, the economy. The Government will adopt a dual approach: actively promoting its application while prudently addressing risks associated with cybersecurity, data privacy, and intellectual property protection.
Mr Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, delivered a keynote speech on the theme “Balancing Innovation and Stability”, reaffirming the Authority’s commitment to balancing innovation and risk based on the principle of “same rick, same activity, same treatment”. He highlighted the Authority’s adaptive supervisory approach, featuring early engagement and interactive and iterative approach, to support a conducive environment for fintech development. Mr Yue cited key initiatives including the launch of new regulatory sandboxes and incubation platforms for generative artificial intelligence (GenAI) and distributed ledger technology (DLT), aimed at helping banks test use cases and enhance risk management capabilities. He also highlighted the HKMA’s support for GenAI experimentation by offering free computing resources and encouraging the development of “AI-to-AI” applications. At the same time, the HKMA is advancing tokenisation infrastructure, such as Project Ensemble and various cross-border use cases, while actively engaging with the Mainland and other central banks to explore interoperability and standard alignment in future financial infrastructure. He added “We are not just adapting to innovation — we are shaping the future through decisions, partnerships, and technology, working together to ensure Hong Kong plays a leading role in this transformative journey.” Looking ahead, he emphasized three critical forces will shape the trajectory of banking transformation: responsible innovation, cross-boundary cooperation, and ecosystem synergy.
Industry Collaboration to Drive Fintech Innovation
Mr SUN Yu, Chairman of the Chinese Banking Association of Hong Kong and Vice Chairman and Chief Executive of Bank of China (Hong Kong) Limited, remarked in his welcome address that technological breakthroughs are reshaping the financial landscape, presenting both challenges and opportunities for traditional finance. He emphasized Hong Kong’s robust capabilities in embracing cutting-edge technologies, supported by its efficient infrastructure, dynamic ecosystem, and extensive talent pool. “Hong Kong’s significant progress in fintech reflects a collective effort. Our policymakers and regulators have adopted a forward-looking approach, fostering collaboration between the banking sector and other industries while ensuring that the advancements does not come at the expense of sound risk management or our social responsibilities. The Association is dedicated to serving as a ‘super-connector’ to strengthen Hong Kong’s position as a leading international financial centre.”
Ms Mary Huen, Chairperson of the Hong Kong Association of Banks and Chief Executive Officer, Hong Kong and Greater China & North Asia, Standard Chartered, underscored the banking industry’s commitment to driving meaningful and responsible innovation, and prepare the industry to seize future opportunities. “In recent years, Hong Kong’s banking industry has made remarkable strides in fintech development, spanning faster payments, data sharing, digital banking, blockchain and asset tokenisation. These achievements stem from the close collaboration between industry and regulators. The Hong Kong Association of Banks has played an active role through various working groups, bringing together the banking sector and key stakeholders to jointly consult on and implement initiatives across these areas. The transformative power of technology in finance is clear. Looking ahead, the Association will continue to nurture and attract fintech talent, enhance the knowledge and skills of banking professionals, and prepare the industry to seize opportunities presented by emerging trends such as generative AI and tokenisation, all in pursuit of our vision for the future of banking.”
Visionary Dialogue on the Future of Banking
One of the most highlights of the day was the CEO panel discussion titled “Envisioning the Future of Banking for CEOs: Transformative Forces Driving Innovation and Growth”. The panel featured Mr Duncan Chiu, Legislative Council Member (Technology and Innovation); Mr George Chou, Chief Fintech Officer of the Hong Kong Monetary Authority; Mr Bojan Obradović, Group Head of Innovation and Digital Partnerships at HSBC; and Mr Dominic Maffei, Head of Digital Assets and Fintech for Standard Chartered Bank (Hong Kong) Limited, and moderated by Mr. Neil Tan, Chairman of the Artificial Intelligence Association of Hong Kong and Managing Partner of Tsunami Advisors Limited.
The panel explored how banks are navigating transformative trends in artificial intelligence and tokenisation. Speakers discussed the integration of AI across compliance, risk, and customer experience; the potential of tokenisation to unlock new asset classes and reshape market infrastructure. The session underscored the need for regulatory foresight, market connectivity, and infrastructure innovation to ensure the banking industry remains competitive and resilient in an increasingly tokenised, AI-driven global financial landscape.
Luncheon Keynote: Rethinking Finance through Deep Tech
The keynote luncheon featured Mr. Dowson Tong, Senior Executive Vice President of Tencent and CEO of Tencent Cloud and Smart Industries Group (CSIG), with a keynote titled “Trends in Generative AI and its impacts on our industry”. Mr Tong highlighted the exponential growth of global AI investment, noting that data centre capital expenditure reached US$455 billion in 2024 and is projected to grow by another 30% in the coming year. He also pointed to the explosive adoption of generative AI, with leading applications in China already surpassing 100 million monthly active users—demonstrating not only strong public engagement but also a clear readiness for enterprise-level integration. Drawing on both international and Chinese market insights, Mr. Tong illustrated how AI is enabling end-to-end task execution and transforming consumer behaviour, enterprise efficiency, and industrial workflows. He identified four imperatives for financial institutions to unlock AI’s value: optimising model scale and cost-effectiveness, prioritising high-certainty use cases, ensuring robust data security and compliance, and proactively managing workforce transitions. Reinforcing Tencent’s long-term commitment to pragmatic AI development, Mr. Tong called for greater cross-sector collaboration to drive real productivity gains and responsibly reshape the financial ecosystem.
Reinforcing Hong Kong’s Fintech Leadership through Innovation and Collaboration
Fintech Forum 2025 delivered a programme featuring keynote speeches, thematic sharing sessions, expert panel discussion, an industry exhibition, and a luncheon keynote. The agenda brought together banking leaders, regulators, and technology innovators to explore critical themes shaping the future of finance — from the adoption of AI in banking operations and compliance, and the accelerating role of tokenisation in capital markets. The Forum also addressed emerging issues such as ethical governance and platform interoperability, offering participants actionable insights and cross-sector perspectives to navigate transformation and reinforce Hong Kong’s leadership in fintech.
At the Forum, six Cyberport community companies, comprising outstanding local startups and Mainland enterprises that have established a presence in Hong Kong, showcased a range of landmark innovations spanning artificial intelligence, low-altitude economy, and robotics. These demonstrations underscored the diversity of the Cyberport ecosystem and Hong Kong’s growing strength in innovation and technology. Mr. Rocky CHENG, Chief Executive Officer of Hong Kong Cyberport Management Company Limited and Mr. Sam CHEN, Chairman of OpenCSG also introduced their ongoing initiative to build the “Open Cyberport Community”, aimed at connect global open-source platforms and talents. In parallel with bringing in open-source technologies, the initiative also incorporates quality assurance frameworks and secure code-scanning tools, with the goal of providing the industry with a trusted, secure, and advanced open-source solution. This effort seeks to accelerate system development for new technology applications, lower development costs, and ease the shortage of tech talent, particularly in areas such as AI and digital assets by offering a large repository of usable source codes.
By bringing together global perspectives and aligning regulators, industry leaders and technology pioneers, the Forum reaffirmed Hong Kong’s position as a trusted, open and future ready international financial centre committed to advancing innovation, resilience and inclusion across the financial ecosystem.
