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The Mutual Growth of Finance and Innovation

Over the past week, Hong Kong hosted a series of large-scale summits, signature events, and innovation and technology (I&T) competitions, creating a vibrant atmosphere in the city as they brought together leaders and friends from the global financial, investment and I&T sectors along with representatives from multinational enterprises. Through various forums, conferences and cross-sectoral events, participants shared their perspectives, hands-on experience and insights, offering us a deeper understanding of the macro landscape and future development, as well as inspiring us to think more profoundly and comprehensively. While the Global Financial Leaders’ Investment Summit has become a major annual highlight for the international investment community, the world-renowned FinTech Week has also carried significant weight.

This year marked the 10th anniversary of both the FinTech Week and the StartmeupHK Festival. For the first time, the two events were held in conjunction, creating notable synergies. Together, they attracted 45,000 attendees from 120 economies, 800 exhibitors and over 30 trade delegations from the Chinese Mainland and overseas. The events brought together technology enterprises and start-ups, financial institutions, investors, potential clients, policymakers, experts, academics and representatives of regulators from fields such as fintech, artificial intelligence (AI), life and health technology, green technology and new energy. They also drew numerous entrepreneurs or prospective business starters from the Chinese Mainland and around the world. Many participants from the Chinese Mainland, ASEAN, the Middle East, Europe and America expressed that they were deeply impressed by the high level of international participation in these two events, fully showcasing the appeal of Hong Kong as a global hub. Our continued I&T investment and incubation efforts, together with our experience in such aspects as technological innovation, application promotion, standard setting, regulatory frameworks and market development, have also provided valuable reference for international peers.

Attending the Hong Kong FinTech Week x StartmeupHK Festival 2025 last week.

Participating in a panel discussion with other guests at the Hong Kong FinTech Week x StartmeupHK Festival 2025.

During FinTech Week, the Hong Kong Monetary Authority (HKMA) announced its "Fintech 2030", focusing on four key areas: data and payment infrastructure, artificial intelligence, tech resilience, and tokenisation of finance. The strategy outlines over 40 specific measures aimed at developing Hong Kong into a robust, resilient and future-ready global fintech hub. This aligns with the government's long-standing efforts and investments in fintech infrastructure, policy, resources, and talent development—boosting global confidence in Hong Kong’s fintech development and providing a clearer and more concrete roadmap.

Another major event for Hong Kong’s I&T sector, namely the Elevator Pitch International Competition (EPIC) 2025, a flagship I&T pitch competition of the Hong Kong Science and Technology Parks (HKSTP), took place last week. The event, now in its ninth year, has continued to grow in scale. This year’s Grand Finale, with the presence of over 1,500 guests, was filled with electrifying moments. Competing start-ups were required to present succinctly and accurately their innovative ideas, core technologies, market analysis and commercialisation plans and respond to the judging panel’s questions within three minutes, keeping the competition fast-paced and dynamic.

It's encouraging to see EPIC gradually becoming a major event in the global startup scene. This year saw a record-breaking 1,200+ applications from over 70 economies, with 87% of entries from non-locals. Among the top 100 finalists, startups from Hong Kong and the Chinese Mainland, Europe, the Americas, and non-China Asia-Pacific regions each accounted for around 20–30%, marking the highest level of international participation to date. This reflects the enthusiastic pursuit by global startups to leverage Hong Kong’s international platform for greater development opportunities. In fact, several past EPIC finalists have achieved remarkable success. For example, one startup received backing from a Middle Eastern sovereign wealth fund to support their technology application locally, while another evolved into one of Asia’s leading digital health platforms, expanding into Vietnam and Indonesia etc.

Speaking at EPIC 2025.

Attending EPIC 2025 and presenting an award to the winner.

In a group photo with other guests at EPIC 2025.

Thanks to years of collaborative efforts between the government and various sectors, Hong Kong’s innovation and technology ecosystem has seen significant growth. In the past five years, the number of startups in Hong Kong has increased by 40% to around 4,700. Hong Kong provides a robust financing environment for startups at all stages—from angel investment to multiple funding rounds and IPOs.

For instance, the HKSTP and Cyberport, two of Hong Kong’s flagship innovation hubs, saw their resident startups raise HK$6 billion in funding over the past year. Additionally, several of these companies also successfully went public, raising a total of HK$5.2 billion.

The thriving financial and I&T ecosystems are mutually reinforcing, serving as key engines for accelerating high-quality economic development in Hong Kong. They also play a pivotal role in Hong Kong’s deep involvement in and positive contribution to the development of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). During his visit to Guangdong, President Xi emphasised the importance of strengthening collaboration in technological innovation and infrastructure connectivity, as well as promoting “soft connectivity” in regulatory mechanisms. We must fully leverage our role as an international two-way platform to make more profound contribution to the GBA’s development, and support the further unlocking of the benefits of market integration in the GBA. This will help Hong Kong achieve more substantial, diverse and promising development in future.

Speaking at the Global Financial Leaders’ Investment Summit luncheon.

As we strive to accelerate Hong Kong’s economic development, we need more constructive forces to offer insights and suggestions for the good of the city. The Legislative Council Election, which is crucial to Hong Kong’s development, will take place in less than a month. More than 160 candidates were nominated during the nomination period. Let us all cast our votes on December 7 to build a better future for Hong Kong!

November 9, 2025