As the Asian Financial Forum (AFF) gets under way in Hong Kong today, the government’s investment-promotion agency, InvestHK, is banging the drum about the city’s potential in fintech, announcing that it has set November 2-6 for the next edition of Hong Kong Fintech Week 2020.
The event will be held again at the AsiaWorld Expo next to the airport, which is more spacious, suggesting the agency expects growth in the number of exhibitors this year. Last year’s Fintech Week drew more than 12,000 attendees, up about 50 per cent from the figure in the previous year, and there were 150 exhibitors and 18 trade delegations. That performance was somewhat surprising, given that it happened amid the Hong Kong protests, which had been keeping business visitors away from Hong Kong.
This week will see a warmup of sorts, as the AFF will host a FintechHK Startup Salon, today and tomorrow at the Hong Kong Convention and Exhibition Centre, aimed at bringing early-stage fintech firms in front of potential investors.
InvestHK is pretty happy with the momentum. The agency’s associate director-general, Charles Ng, said: “The results of 2019 in terms of exhibitors, attendees and participant feedback exceeded all expectations. As Hong Kong Fintech Week celebrates the fifth anniversary this year, we will build on the success of last year’s event and develop more business-oriented programmes for the global fintech communities, such as the FintechHK Global Competition, Fast Track and roadshows.”
Hong Kong is now home to more than 600 fintech companies, up around 10% YoY. InvestHK claims around half of respondents to a recent survey plan to expand into other parts of the Greater Bay Area, while half view Hong Kong as a base for global expansion.