The Hong-Kong Monetary Authority HKMA on June 8, 2021 presented "Fintech 2025", this strategy will be adopted to guide the development of the Fintech industry in Hong Kong into RegTech.
Dr. Eddie Yue, CEO of HKMA, during the opening of the fintech seminar, in his remarks, outlined the fintech strategy that will be adopted and which aims to encourage the financial sector to adopt the technology comprehensively by 2025, to promote the provision of financial services that benefit Hong Kong's economy and citizens.
All banks will switch to Fintech!
Corporate Bond in digital currencies
Creation of the next generation data infrastructure
Expanding the Fintech Workforce
Hong Kong Growth Portfolio strategy
HKMA continues to collaborate with the People's Bank of China to support technical testing of the e-CNY in Hong Kong to provide a convenient means of cross-border payments for domestic and continental residents.
Hong Kong's digital monetary policy
One of the relevant aspects of the FinTech strategic plan is undoubtedly the management and monitoring of citizens' investments, whether they are internal or foreign investments.
This message is unmistakable in the sense that HKMA holds savings and, therefore, risk management and asset management services as the main parameter of Hong Kong's monetary policy.
HKMA's new FinTech plan will strengthen research to increase Hong Kong's readiness to issue Corporate Digital Currency bonds.
Hong-Kong: Expansion of the workforce in the Fintech Industry
The HKMA aims to train all-around fintech talents. To this end, it seeks to collaborate with various strategic partners to train professionals and students who, in the future, have specific training and qualifications for the Fintech Industry Project Masters Network (IPMN).
This September will be piloted to offer internship opportunities for postgraduate students to work on banks' fintech projects on federated learning and other artificial intelligence technologies.
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