HKIC and WeLab Launch Strategic Partnership to Enhance Hong Kong's Fintech Innovation and AI Development

Speech by FS at Hong Kong Investment Corporation Limited and WeLab Strategic Partnership Kick-off Ceremony (with photos/video)

Following is the speech by the Financial Secretary, Mr Paul Chan, at the Hong Kong Investment Corporation Limited and WeLab Strategic Partnership Kick-off Ceremony today (April 10):

Deputy Consul-General Ms Ranida Chamchalerm (Deputy Consul-General of Thailand in Hong Kong), Clara (Chief Executive Officer of Hong Kong Investment Corporation, Ms Clara Chan), Simon (Chief Executive Officer of WeLab, Mr Simon Loong), distinguished guests, ladies and gentlemen,

Good morning. It is a pleasure to join you today to witness the strategic partnership between the Hong Kong Investment Corporation Limited (HKIC) and WeLab, a collaboration that embodies the spirit of innovation and aspiration.

As an international financial centre, fintech is a vital component of Hong Kong's financial landscape. We are home to around 1100 fintech companies and start-ups. The ecosystem has been rapidly growing, particularly in the areas of digital assets, blockchain applications and cybersecurity.

Our progress in fintech has gained international recognition. In the recently released Global Financial Centres Index, Hong Kong has risen five places to become global No. 4 in the category of fintech.

Innovation sits at the heart of this endeavour. And we are guided by a clear mission: to build a fintech ecosystem where cutting-edge solutions thrive and technology serves as a force for good. The objective is to make financial services more efficient and accessible, benefitting not just the local market but also our regional partners like ASEAN (Association of Southeast Asian Nations) through collaboration opportunities.

Strategic partnership

I'm pleased to note that the HKIC plays an important role in advancing these objectives. While pursuing reasonable financial returns, it promotes the development of target sectors that are crucial for Hong Kong's long-term competitiveness and economic vitality. The HKIC invests and co-invests in start-ups and companies at different stages of development that are conducive to the building of such an ecosystem. Acting as "patient capital", it also helps channel private capital, including private equity and venture capital, to support the realisation of our vision.

The HKIC is driving forward the vision together with WeLab, whose success in the Indonesian market and its plan to expand to Thailand are closely aligned with our overarching goals and strategies.

On the other hand, globally, AI is rapidly reshaping production, business and consumption models. It empowers the upgrading of traditional industries and creates new ones. It is defining the future of finance by transforming customer experiences, enabling us to overcome traditional barriers and providing us with faster, cheaper and more inclusive financial services.

For instance, AI technologies can uncover correlations between seemingly unrelated factors, enabling the identification of creditworthiness in individuals who might otherwise be regarded as unqualified for lending. This is exactly what WeLab is achieving through its innovative technologies.

This Government is pro-AI. In my Budget this year, I have outlined our vision to develop AI as a core industry for Hong Kong. We are driving this development on five fronts: computing capabilities, algorithms, data, capital and talent. Beyond investing more resources into AI development, we are committed to fostering a pro-innovation environment that facilitates the testing and trial of AI applications.

I'm confident that through this partnership, the HKIC and Welab can assist more local and regional enterprises to leverage AI and fintech, thereby unlocking the potential of finance to support the economic development across Asia.

Synergies for good

Ladies and gentlemen, today's partnership goes well beyond investments and corporate cooperation. Allow me to emphasise two points.

First, by integrating WeLab, a pioneer in fintech, into its ecosystem of innovative companies, the HKIC is expanding the nexus for co-creation. I'm confident that this partnership will inspire more innovation among the HKIC's partners and other innovators, with vast potential for cross-sectoral collaboration in areas such as digital transformation and application scenarios for AI.

Second, innovation thrives on talent. We want our young people to become not merely participants but architects of Hong Kong's digital future. This partnership is committed to supporting acceleration programmes and academic partnerships, thereby equipping our youth with the skills and knowledge necessary to excel in the rapidly evolving fintech space. Together, we can work to nurture the next generation of tech-savvy leaders.

In short, today's partnership is a catalyst for progress. I wish this collaboration enduring success, and all of you the best of business and health in the time ahead. Thank you very much.

Speech by FS at Hong Kong Investment and Corporation Limited and WeLab Strategic Partnership Kick-off Ceremony (with photos/video) Source: HKSAR Government Press Releases

Speech by FS at Hong Kong Investment and Corporation Limited and WeLab Strategic Partnership Kick-off Ceremony (with photos/video) Source: HKSAR Government Press Releases

Public hospitals experience smooth operations on second day of public healthcare fees and charges reform

The following is issued on behalf of the Hospital Authority:

On the second day (January 2) of the implementation of the Hospital Authority public healthcare fees and charges reform (fees and charges reform), public hospitals maintained smooth operation. The HA will continue to deploy additional manpower across various departments at hospitals to assist patients in need.

On the first day (January 1) of the fees and charges reform, 3 888 patients attended the Accident and Emergency departments (A&E) of 18 public hospitals, a decrease of about 25 per cent when comparing to New Year's Day last year. From midnight to 2pm yesterday (January 2), 2 329 patients attended all A&E, approximately 30 per cent fewer than the same time period of January 2 of last year. Among the patients seeking medical consultation, there were 34 critical cases and 82 emergency cases. According to the new fees and charges arrangement, these two categories of patients will have their A&E charges fully exempted. The other cases subject to the new fees and charges arrangement include 986 urgent cases, 1 171 semi-urgent cases, and 56 non-urgent cases. The average waiting times for semi-urgent and non-urgent cases was around 55 minutes, which is shorter compared to the average waiting time for the same period last year (approximately 147 minutes) for semi-urgent and non-urgent cases.

Additionally, the HA's 75 Family Medicine Clinics (FMCs) providing family medicine outpatient services also operated smoothly yesterday. As of 2pm yesterday, approximately 10 000 patients attended these FMCs, with overall service usage remaining similar to that before the implementation of the measures.

The HA has deployed additional manpower to expedite the processing of patients' medical fee waivers applications. As of 2pm yesterday, public hospitals received approximately 3 300 applications in total for the day, with nearly 90per cent approved, amounting to about 2 900 applications. The remaining cases will be processed as soon as possible. Compared to the 14 000 individuals who were approved for medical fee waivers in 2023/24, the HA has approved approximately 35 000 applications since early November last year, benefiting citizens in need.

Furthermore, patients who had previously scheduled non-urgent radiology services or pathology services will be receiving payment notifications through mail or the HA mobile application HA Go starting from January 1. The HA reminds patients with recent appointments can arrange payment as early as practicable upon receiving the notification. For patients with distant appointment dates, payment can be arranged at their convenience after receiving the notification. Patients are not required to settle the payment immediately. Patients undergoing non-urgent radiology services must settle the payment at least 14 days before their appointment date, while patients requiring pathology services must settle the payment before testing. If patients have questions regarding payment items, they can inquire with healthcare staff during follow-up appointment, and specialist out-patient clinics will also have Integrated Patient Service Centres to provide detailed explanations about payment arrangements.

The HA reminds patients that the fees and charges reform has been implemented. Patients are advised to familiarise themselves with the new fees and charges arrangements before visiting public hospitals or outpatient clinics. Some medical service procedures have also been modified. Every cluster has set up hotlines (see table below) for patients to inquire about the fees and charges reform arrangements. Patients can also visit the HA website to learn about the new arrangements.

Hotlines for Public Healthcare Fees and Charges Reform

Clusters

Hotlines

Hong Kong East Cluster

6460 4303

Hong Kong West Cluster

2255 4177

Kowloon Central Cluster

3506 7198

Kowloon East Cluster

5215 7326

Kowloon West Cluster

3467 7575

New Territories East Cluster

6273 3551

New Territories West Cluster

2468 5353

Service hours: January 2-11, 2026, 8am to 8pm

Source: AI-found images