To facilitate stakeholders’ understanding of Hong Kong's fintech sector, HKUST Business School has partnered with Invest Hong Kong (InvestHK), the FinTech Association of Hong Kong, and the Financial Services Development Council to publish the Hong Kong Fintech Ecosystem Report. The report provides a comprehensive overview of the local fintech landscape, featuring the latest market statistics along with favorable policies and support measures for the sector. Additionally, the report presents key findings from the 2024 Hong Kong Fintech Ecosystem Survey conducted by InvestHK, alongside valuable insights gathered through ongoing research and engagement with key industry players. 
Key Highlights:
- The fintech sector in Hong Kong has witnessed outstanding growth between 2022 and 2024, with over 1,100 fintech companies, including ten unicorns in the region. More than 25,000 individuals are now employed in the sector.
- Significant growth has been observed in the blockchain application/software sub-sector (by 250%) and the digital assets/cryptocurrency sub-sector (by nearly 30%) from 2022 to 2024.
- The wealthtech sub-sector houses the largest number of fintech companies, followed by the blockchain applications, payment and remittance, and digital assets/cryptocurrency sub-sectors.
- Hong Kong and the USA are the most favored markets for business operations by fintech companies registered outside of Hong Kong. Among the companies registered in Hong Kong (83.1%), Mainland China and Singapore are the most preferred choices for expansion.
- The primary advantages of operating a business in Hong Kong include a low tax rate (70.8%), access to clients (60.0%), and access to government subsidies/funding schemes (55.4%); while the key challenges faced by businesses include talent availability (58.68%), access to capital (43.9%), and access to clients (34.6%).
The report suggests that Hong Kong's fintech landscape will continue to evolve, driven by advancements in technologies such as AI and quantum computing. This evolution underscores the immense potential for both local and international businesses.
Click here to read the full report.