UK, Hong Kong sign FinTech co-operation agreement

UK FinTech Bridge, a comprehensive agreement covering government-to-government, regulator-to-regulator and industry-to-industry co-operation, has signed by Hong Kong and United Kingdom in London.

The agreement provides a solid framework for FinTech firms on both sides to use the facilities and assistance available in the other place to explore new business opportunities.

The Secretary for Financial Services and the Treasury James Henry Lau Jr, who witnessed the signing, said the agreement is a vivid example of the government's staunch efforts in promoting FinTech development and collaboration with other FinTech hubs.

"With strengthened co-operation with the UK in FinTech development and promotion, we hope to see Hong Kong's home-grown FinTech firms grow and expand their business to the UK," he said.

Lau added that UK FinTech firms are welcomed to establish presence in Hong Kong and to use the city as a gateway to tap into the mainland and Asian markets.

The signing was also witnessed by Chief Executive Carrie Lam Cheng Yuet Ngor, who is in London for a three-day visit, and the UK Chancellor of the Exchequer Philip Hammond.