HKMA unveils Fintech Promotion Blueprint: From adoption to advancement
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) published today (February 3) a Fintech Promotion Blueprint to foster responsible innovation and fintech advancement.
Under "Fintech 2030" (Note 1), this tactical Blueprint focuses on more sophisticated applications of artificial intelligence (AI) and distributed ledger technologies (DLT), enabled by the infrastructural support of High-Performance Computing. With Data Excellence and Cyber Resilience being the foundational pillars, the Blueprint aims to further strengthen the banking sector's ability to better manage risks associated with advanced technologies.
The Blueprint sets out a cohesive framework of initiatives structured around tactical dimensions of Ecosystem Collaboration, Technological Advancement, as well as Talent and Outreach. In the coming months, the HKMA will launch four flagship projects, including:
Quantum Preparedness Index: Recognising Quantum Computing's far-reaching implications for the financial industry which relies on secure encryption technologies, the HKMA will develop a Quantum Preparedness Index to assess the readiness of the banking sector for Post-Quantum Cryptography (PQC). The Index will not only offer a comprehensive current-state analysis, but also serve as a measurable target for the next few years and guide the HKMA's efforts to provide practical support throughout the PQC transition journey.
New Risk Data Strategy: To unlock the full potential of advanced AIand DLT applications, the HKMA will implement a New Risk Data Strategy designed to enhance the data management capabilities of banks.With more robust data governance frameworks and sophisticated data infrastructure, banks will be able to more effectively leverage complex structured and unstructured data (Note 2)for advanced analytics, navigating the dynamic risk landscape.These capabilities will also support the expansion of the HKMA's Granular Data Reporting initiative, strengthening the agility of risk management and banking supervision.
Fintech Cybersecurity Baseline: The HKMA will work with industry experts to establish a new, standardised, industry-led Fintech Cybersecurity Baseline for fintech solution providers, focusing on specific novel applications of AIand DLT. The baseline seeks to provide clear cybersecurity guidance for fintech solution providers partnering with banks, thereby strengthening trust and resilience throughout the ecosystem, and improving the efficiency of the due diligence process conducted by financial institutions when onboarding fintech partners.
Competency development support: The HKMA will work with the industry to provide practical guidance to enhance the skills of general fintech users, complementing existing competency support efforts.With a focus on "human-machine interaction" capability, the initiative aims to establish a clear view of the skills required for the advanced applications of AIand DLT in the next generation of financial products and services.
The Blueprint also introduces a series of activities to address the key challenges to further fintech advancements, as identified in the Tech Maturity Stock-take (Note 3). These initiatives include FiNETech events, responsible innovation competitions, a revamp of the Fintech Connect matching platform and practical workshops.
Deputy Chief Executive of the HKMA Mr Arthur Yuensaid, "The future of finance will be defined by those who can harness sophisticated technology, not only to improve existing processes, but to reimagine what is possible. By embracing responsible innovation, strengthening cross-boundary collaboration, and investing in talent development, the Blueprint provides the tactical guidance we need to build a resilient and forward-looking Fintech ecosystem - one that balances the rapid evolution of both risk and opportunity."
The full report of the Blueprint is available on theHKMA website.
Note 1: The HKMA Unveils "Fintech 2030" at the Hong Kong FinTech Week 2025
www.hkma.gov.hk/eng/news-and-media/press-releases/2025/11/20251103-3/
Note 2: Structured data such as transaction records and credit scores, as well as unstructured data such as email correspondence and business contracts.
Note 3: Fintech Adoption: Progress and Future Directions
brdr.hkma.gov.hk/eng/doc-ldg/docId/getPdf/20250716-3-EN/20250716-3-EN.pdf
Source: AI-found images
CFS urges public not to consume batch of powdered infant formula
The Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department continues to actively follow up on the precautionary recall of certain batches of powdered infant and young children formula in different areas worldwide due to possible presence of Cereulide produced by Bacillus cereus in the individual raw material. The CFS today (February 3) said it earlier noted through its Food Incident Surveillance System that certain batches of Aptamil powdered infant and young children formula are being recalled by the German authority as the products might contain Cereulide produced by Bacillus cereus. The CFS has been very concerned about the incident, and has followed up immediately, including contacting the local importers, retailers and relevant authorities, as well as inspecting retail outlets in the market. The CFS has earlier published a food incident post online to inform the public and the trade of the incident. According to the latest investigation result today, a local retailer had sold a small quantity of one affected batch of the powdered infant formula concerned. For the sake of prudence, the retailer concerned has stopped sales, removed from shelves the affected product and has initiated a precautionary recall according to the CFS's instructions.
Product details are as follows:
Product name: Aptamil Profutura DUO Pre D 800g
Brand: Aptamil
Pack size: 800 grams
Place of origin: Germany
Quantity imported: 54 cans
Use-by date: April 20, 2027
Retailer: Baby HK
A preliminary investigation by the CFS revealed that relevant importer had imported nine boxes of 54 cans of the product concerned, among which 34 cans had been distributed. The CFS has instructed the retailer concerned to stop sales and remove from shelves the affected batch of the product concerned and to initiate a recall. Moreover, the CFS has marked and sealed 20 cans of remaining stock of the product. Members of the public may call the retailer's hotline at 3586 1399 during office hours for enquiries about the recall.
The CFS will continue to enhance surveillance of powdered infant and young children formula and to closely monitor the recall matters and remain fully committed to ensuring food safety. The CFS has alerted the trade and relevant department over the incident, and will continue to follow up and take appropriate action. Follow-up investigation is ongoing.
Bacillus cereus is commonly found in the environment. Unhygienic conditions in food processing and storage may give rise to its growth. Cereulide is a heat-stable toxin produced in food by some strains of Bacillus cereus. Consuming food contaminated with excessive Bacillus cereus or its heat-stable toxins may cause gastrointestinal upset such as vomiting and diarrhoea.
The CFS urged members of the public not to let infants and young children consume the affected batch of the product, and to seek medical treatment for infants or young children who felt unwell after taking the product concerned. The trade should also stop using or selling the affected batch of the product immediately.
The CFS has established a designated webpage (www.cfs.gov.hk/english/whatsnew/powdered_formula/index.html) to facilitate public access to more information.
Source: AI-found images
