HKMA Launches Fintech 2030 Strategy to Propel Hong Kong's Fintech Development at FinTech Week 2025

HKMA unveils "Fintech 2030" at Hong Kong FinTech Week 2025

The following is issued on behalf of the Hong Kong Monetary Authority:

The Hong Kong Monetary Authority (HKMA) today (November 3) unveiled "Fintech 2030", a forward-looking strategy for driving Hong Kong's fintech development, at the Hong Kong FinTech Week 2025.

Marking the 10th anniversary of Hong Kong's flagship fintech event, the Hong Kong FinTech Week 2025, co-organised by the HKMA and Invest Hong Kong, represented a significant milestone for Hong Kong's fintech development. The event showcased transformative innovation and charted the direction for the future of fintech in Hong Kong. The event attracted global participants from around the globe to share pioneering ideas, exchange insights on fintech developments, and establish valuable business partnerships.

In his keynote speech, the Chief Executive of the HKMA, Mr Eddie Yue,outlined the vision of "Fintech 2030" to make Hong Kong a robust, resilient, and future-ready fintech hub. The "Fintech 2030" will focus on four strategic pillars, collectively known as "DART", with a comprehensive portfolio of over 40 initiatives, including:

• Creating Next-generation Data and Payment Infrastructure: The HKMA will develop robust and future-ready infrastructure to support secure, efficient and scalable data sharing as well as bolster cross-border payment connectivity, thereby creating new opportunities for all, from unlocking credit and boosting trade finance for enterprises, to enabling more personalised financial services and facilitating easier cross-border remittances for individuals.

• A New Holistic "Artificial Intelligence x Authorized Institutions" Strategy (AI2 Strategy): The new strategy will further drive the comprehensive and responsible adoption of A.I. across the financial sector in Hong Kong and beyond, as well as develop shared, scalable A.I. infrastructure and finance-specific models in collaboration with industry stakeholders. By leveraging A.I., the HKMA aims to boost accessibility, responsiveness, and customisation in banking services while maintaining transparency and accountability to ensure public trust.

• Enhancing Business, Technology and Quantum Resilience: The HKMA is taking proactive steps to strengthen the resilience of the financial sector, including a new fintech-specific cybersecurity certification framework and a new system of early detection through real-time analysis. In shaping the future of quantum finance, the HKMA will drive industry readiness for post-quantum cryptography (PQC) and building quantum-safe infrastructure for secured financial services.

• Tokenisation of Finance: To build a vibrant tokenisation ecosystem in Hong Kong, the HKMA will accelerate the tokenisation of real-world assets (RWAs), including financial assets, and lead by example by regularising the issuance of tokenised government bonds and exploring the concept of tokenising the Exchange Fund papers. Their settlements on blockchains will be enabled by new forms of digital money, including the e-HKD, tokenised deposits, and regulated stablecoins. The HKMA will soon launch the Project Ensemble pilot to empower real-value transactions and will continue to incubate innovative tokenisation use cases in collaboration with industry stakeholders and other central banks.

Mr Yue said, "The power of collaboration, across public and private sectors, and across borders, has set the stage for even greater success on our journey towards 'Fintech 2030'. With a clear focus under the 'DART' strategy, let us join hands in reimagining the future of finance, opening a new chapter, and pushing the boundaries towards a more sustainable and inclusive fintech ecosystem."

The full list of the initiatives under "Fintech 2030" will be updated on the HKMA website. Further details of the initiatives will be announced by the HKMA in due course.

Source: AI-found images

HKMA unveils "Fintech 2030" at Hong Kong FinTech Week 2025 Source: HKSAR Government Press Releases

HKMA unveils "Fintech 2030" at Hong Kong FinTech Week 2025 Source: HKSAR Government Press Releases

HKMA unveils "Fintech 2030" at Hong Kong FinTech Week 2025 Source: HKSAR Government Press Releases

Source: AI-found images

Seven persons arrested during anti-illegal worker operation

The Immigration Department (ImmD) mounted an anti-illegal worker operation codenamed "Contribute" today (January 15).During the operation, ImmD Task Force officers raided premises under renovation in a newly built public housing estate in Sheung Shui district.A total of six suspected illegal workers and one suspected employer were arrested. Thearrested suspected illegal workers comprise six men, aged 22 to 41. Furthermore, one man, aged 45, suspected of employing the illegal workers, was also arrested. An investigation into the suspected employers is ongoing, and the possibility of further arrests is not ruled out.

Apart from mounting the enforcement operation, ImmD officers and a promotional vehicle have been deployed to distribute "Don't Employ Illegal Workers" leaflets and convey the message in the estate.

An ImmD spokesman said, "Any person who contravenes a condition of stay in force in respect of him or her shall be guilty of an offence. Also, visitors are not allowed to take employment in Hong Kong, whether paid or unpaid, without the permission of the Director of Immigration. Offenders are liable to prosecution and upon conviction face a maximum fine of $50,000 and up to two years' imprisonment. Aiders and abettors are also liable to prosecution and penalties."

The spokesman stressed that it is a serious offence to employ people who are not lawfully employable. Under the Immigration Ordinance, the maximum penalty for an employer employing a person who is not lawfully employable, i.e. an illegal immigrant, a person who is the subject of a removal order or a deportation order, an overstayer or a person who was refused permission to land, has been significantly increased from a fine of $350,000 and three years' imprisonment to a fine of $500,000 and 10 years' imprisonment to reflect the gravity of such offences. The director, manager, secretary, partner, etc, of the company concerned may also bear criminal liability. The High Court has laid down sentencing guidelines that the employer of an illegal worker should be given an immediate custodial sentence.

According to the court sentencing, employers must take all practicable steps to determine whether a person is lawfully employable prior to employment. Apart from inspecting a prospective employee's identity card, the employer has the explicit duty to make enquiries regarding the person and ensure that the answers would not cast any reasonable doubt concerning the lawful employability of the person. The court will not accept failure to do so as a defence in proceedings. It is also an offence if an employer fails to inspect the job seeker's valid travel document if the job seeker does not have a Hong Kong permanent identity card. Offenders are liable upon conviction to a maximum fine of $150,000 and to imprisonment for one year. In that connection, the spokesman would like to remind all employers not to defy the law by employing illegal workers. The ImmD will continue to take resolute enforcement action to combat such offences.

Under the existing mechanism, the ImmD will, as a standard procedure, conduct an initial screening of vulnerable persons, including illegal workers, illegal immigrants, sex workers and foreign domestic helpers, who are arrested during any operation with a view to ascertaining whether they are trafficking in persons (TIP) and/or forced labour victims. When any TIP and/or forced labour indicator is revealed in the initial screening, the ImmD officers will conduct a full debriefing and identification by using a standardised checklist to ascertain the presence of TIP and/or forced labour elements. Identified TIP and/or forced labour victims will be provided with various forms of support and assistance, including urgent intervention, medical services, counselling, shelter or temporary accommodation and other supporting services. The ImmD calls on TIP and/or forced labour victims to report crimes to the relevant departments immediately.

For reporting illegal employment activities, please call the dedicated hotline 3861 5000, by fax at 2824 1166, email to anti_crime@immd.gov.hk, or submit "Online Reporting of Immigration Offences" form at www.immd.gov.hk.

Seven persons arrested during anti-illegal worker operation Source: HKSAR Government Press Releases

Seven persons arrested during anti-illegal worker operation Source: HKSAR Government Press Releases