Hong Kong Showcases Fintech Opportunities at Berlin's FIBE Festival 2023

HKETO Berlin promotes Hong Kong's unique strengths in fintech at FIBE Festival in Berlin

The Hong Kong Economic and Trade Office, Berlin (HKETO Berlin), together with Invest Hong Kong (InvestHK) and the Hong Kong Trade Development Council (HKTDC), promoted Hong Kong's vibrant fintech developments at the FIBE Festival, Germany's leading fintech festival, in Berlin, Germany, on April 15 and 16 (Berlin time).

The FIBE Festival is part of the joint business and investment promotion events under the Economic and Trade Express to highlight Hong Kong's dynamic developments and opportunities.

The Director of the HKETO Berlin, Mr Indiana Wong, together with representatives of InvestHK and the HKTDC, joined as speakers on April 16 at a thematic session, "How to scale your business from Europe to Hong Kong with all the support you need to succeed". They highlighted Hong Kong as an ideal gateway for European fintech businesses to expand to Asia, underpinned by the free flow of capital, a robust regulatory framework, and also Hong Kong's unique advantage of being connected with the world and the Chinese Mainland market.

"As a premier international financial centre with a robust regulatory environment and abundant business opportunities, Hong Kong is also a pioneer in the world of fintech. We stand out as a market with consistent, predictable, forward-looking policies, and a balanced and trusted regulatory framework. With a diverse and innovative ecosystem, we attract entrepreneurs, investors, and professionals from around the world, hosting over 1 200 fintech companies," Mr Wong said.

At the FIBE Festival, the HKETO Berlin, InvestHK and the HKTDC also hosted a booth to promote Hong Kong as an ideal business and work location.

About HKETO Berlin

The HKETO Berlin is the official representative of the Hong Kong Special Administrative Region Government in commercial relations and other economic and trade matters in Germany as well as Austria, Czechia, Hungary, Poland, the Slovak Republic, Slovenia and Switzerland.

HKETO Berlin promotes Hong Kong's unique strengths in fintech at FIBE Festival in Berlin Source: HKSAR Government Press Releases

HKETO Berlin promotes Hong Kong's unique strengths in fintech at FIBE Festival in Berlin Source: HKSAR Government Press Releases

HKETO Berlin promotes Hong Kong's unique strengths in fintech at FIBE Festival in Berlin Source: HKSAR Government Press Releases

Incoming passenger convicted and jailed for possessing duty-not-paid cigarettes

An incoming female passenger was sentenced to four months' imprisonment and fined $1,000 by the Fanling Magistrates' Courts today (April 17) for possessing duty-not-paid cigarettes and failing to declare them to Customs officers, in contravention of the Dutiable Commodities Ordinance (DCO).

Customs officers intercepted an incoming 40-year-old female passenger at the Lo Wu Control Point on January 22 and seized 9 181 duty-not-paid cigarettes with an estimated market value of about $37,000 and a duty potential of about $30,000 from her personal baggage. The female passenger was subsequently arrested.

Customs welcomes the sentence, noting that even a first-time offender may still be imprisoned. The custodial sentence has imposed a considerable deterrent effect and reflects the seriousness of the offences. Members of the public should not defy the law.

Customs reminds members of the public that under the DCO, cigarettes are dutiable goods to which the DCO applies. Any person who imports, deals with, possesses, sells or buys illicit cigarettes commits an offence. The maximum penalty upon conviction is a fine of $2 million and imprisonment for seven years.

Members of the public may report any suspected illicit cigarette activities to Customs' 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).

Incoming passenger convicted and jailed for possessing duty-not-paid cigarettes Source: HKSAR Government Press Releases