Hong Kong Fintech Ecosystem Report

26 In July 2024, InvestHK, with support from Cyberport, Hong Kong Science and Technology Parks, the FinTech Association of Hong Kong and The Hong Kong University of Science and Technology, surveyed 130 fintech companies operating in Hong Kong to gather the latest data about the local fintech ecosystem. Among the 130 fintech companies that participated in the survey, 73.1% belong to the Artificial Intelligence sub-sector, 44.6% to the Accelerator & Innovation Lab sub-sector, and 41.5% to the Digital Asset & Cryptocurrenc y sub-sector. The companies engage in a diverse array of sub- sectors, reflecting the multifaceted nature of Hong Kong’s fintech sector. Exhibit 1 presents the categorization of the surveyed companies by their respective sub-sectors. Artificial Intelligence 73.1% 44.6% 26.2% 11.5% 27.7% 20.0% 41.5% 29.2% 16.9% 34.6% 10.0% 35.4% 22.3% 22.3% 16.2% 29.2% 25.4% 11.5% 26.9% 23.9% 20.0% Fintech Cybersecurity Compliance & RegTech Green Fintech Virtual Bank Blockchain Application / Software Fintech Multiplier (incl. Blockchain, Crypto, Digital Assets, Web3) Digital Asset & Cryptocurrency InsurTech - New Digital Business Models Web3.0 Tools and Services Accelerator & Innovation Lab Fintech Enterprise Solution Decentralized Applications (dAPPS) InsurTech - Value Chain Innovations WealthTech CreditTech Fintech Service Provider Payment & Remittance Education / Research Organizations - Fintech-related domain specific InsurTech Other Potential Areas Approximately half (50.1%) of the surveyed companies have established their international headquarters in Hong Kong, while one-third (30.1%) have set up their Asian headquarters here. Exhibit 2 illustrates the headquarter locations of the surveyed fintech companies. Some notable headquarter locations in addition to Hong Kong include Singapore, Mainland China, and the United States. 0% 10% 50% 30% 70% 20% 60% 40% 80% Exhibit 1: Fintech Sub-sector of Surveyed Fintech Companies Note: A company can belong to more than one sub-sector