Hong Kong Fintech Week: A Front Row Seat to the Future?

Asia's premier fintech showcase is gearing up to unveil the future of finance.

Hong Kong Fintech Week (HKFW), scheduled to take place from October 28th to November 1st, is presented under the rubric "Illuminating New Pathways in Fintech" in 2024. This will be the event's ninth iteration and is expected to pull larger crowds than ever before.

Around 30,000 industry players from more than 100 territories are anticipated to attend this year to immerse themselves in the best that fintech has to offer. As was the case in previous years, HKFW 2024 will include exhibitions, sage discussions and cross-industry collaborations, making it a real melting pot of ideas.

The event comes during Hong Kong’s resurgence as a global fintech hub. It has climbed the ranks to third in the Global Financial Centres Index (GFCI), securing a spot in the GFCI's top 10 global fintech hubs list.

What’s on the agenda at HKFW?

HKFW 2024 is set to be a showcase of emergent AI innovations, blockchain and digital assets — all of which will be key drivers in the next financial services era. A striking number - 38% - of Hong Kong’s finance leaders are already harnessing GenAI, outpacing the global average of 26% significantly. These technologies are poised to dominate discussions, workshops and demos at the event.

HKFW’s sessions will is also aiming to draw insurtech and sustainability into the conversations, both of which are currently hot topics of discussion in the sector.

Interestingly, the event's set up has been inspired by Chinese philosophical tenets of balance and elements, with organisers aiming to create a harmonious navigational experience through its various stages and zones.

Cultivating a culture of fintech innovation

Alpha Lau, Director-General of Investment Promotion at InvestHK, celebrates fintech as a cornerstone of the city’s economic fabric. She says: “Hong Kong’s readiness to embrace technologies like AI and blockchain is key to maintaining our competitive edge in financial services.”

Beyond the core convention, HKFW 2024 is also set to launch community engagement events in Hong Kong and Shenzhen, like networking meet-ups, a Greater Bay Area exploration and even a Web3x3 basketball contest. The hope is that these events will not only engender an atmosphere of fun and collaboration amongst attendees, but also burnish Hong Kong's image as a global fintech hub. 

As Alpha says: "Fintech has always been an important pillar of the Hong Kong economy."

A prime attraction, the Global Fast Track competition, is set to draw semi-finalists globally to pitch their fintech innovations, having sifted through over 500 entries from 56 nations.

This will help to showcase the finalists’ projects to vast audience of corporates and investors. This kind of platform is rather unique, giving budding inventors and innovators the chance to kickstart their careers.

Christopher Hui, Hong Kong's Secretary for Financial Services and the Treasury, sums up Hong Kong's role in the sector. He says: "With its strategic location and robust financial infrastructure, Hong Kong emerges as a 'super connector' and 'super value-adder' for fintech."

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