Coordination Group on Implementation of Fintech Initiatives convenes sixth meeting
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, chaired the sixth meeting of the Coordination Group on Implementation of Fintech Initiatives (CGFin) today (October 26) and conducted exchanges with representatives from financial regulators, the fintech sector and academia on the latest developments in fintech in Hong Kong.
Hui said, "The Government attaches great importance to promoting the development of fintech. According to the latest Global Financial Centres Index Report released last month, Hong Kong retains top global ranking in fintech offering, underscoring Hong Kong's position as a global fintech hub. The work of CGFin is conducive to fostering cross-sectoral co-ordination and co-operation. Taking reference from the valuable views of the industry representatives, the Government and financial regulators will keep up the multipronged approach to facilitate fintech development, including enhancing financial infrastructure, further enriching the fintech ecosystem, nurturing fintech talent, as well as strengthening connections and collaboration with other places."
Various fintech topics were covered at the meeting today, including the proposed regulatory regimes for virtual asset dealing, custodian, advisory and management service providers. The financial regulators also updated the meeting on their progress in adopting AI in the financial market. In addition, the Hong Kong Monetary Authority (HKMA) briefed the meeting on the latest developments of the Project Ensemble, the quantum preparedness of Hong Kong's banking sector, as well as the Commercial Data Interchange and Project CargoX.
The meeting noted that Hong Kong FinTech Week 2026, themed "Fintech Nexus: Bridging the World, Building the Future", will be held from November 2 to 6 in conjunction with the StartmeupHK Festival, with the main conference to be staged on November 2 and 3 at the Hong Kong Convention and Exhibition Centre. Entering its 11th edition, this annual global flagship event will continue to attract participants fromacross relevant sectors globally. The Financial Services and the Treasury Bureau and Invest Hong Kong will capitalise on the event to collaborate with various participating parties and the industry and showcase the vitality of Hong Kong's fintech ecosystem to the global markets.
CGFin is chaired by the Secretary for Financial Services and the Treasury with members including representatives from the HKMA, the Securities and Futures Commission, the Insurance Authority, the Mandatory Provident Fund Schemes Authority, the Accounting and Financial Reporting Council, Invest Hong Kong, Cyberport, and the Hong Kong Science and Technology Parks Corporation.
Source: AI-found images
Speech by SFST at Hong Kong Institute of Certified Public Accountants Annual Dinner
Following is the speech by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, at the Annual Dinner of the Hong Kong Institute of Certified Public Accountants (HKICPA) today (October 26):
Stephen (President of the HKICPA, Mr Stephen Law), Past Presidents, fellow members, ladies and gentlemen,
Good evening. It is my absolute pleasure to be here with you tonight at the HKICPA Annual Dinner. Every year when I join this gathering, I am delighted to see how united our accounting community is in Hong Kong. Seeing both familiar and new faces here tonight shows that fresh talent continues to join and strengthen our profession.
Tonight, as we gather to celebrate the achievements of the Institute and our community, we do so under a theme that is both timely and deeply meaningful: "A Profession with Purpose."
When people think of accounting, the immediate association is often precision, numbers, technical standards, and balance sheets. While those elements are indispensable, they only capture a fraction of what you do. What truly defines the accounting profession is not merely the mechanics of the work, but the purpose behind it. Every audit performed, every advisory role fulfilled, and every financial standard upheld contributes to something far greater: public trust, corporate governance, and economic stability. As certified public accountants, your true purpose is to act as guardians of integrity, ensuring that businesses can expand with confidence and that global investors can deploy capital with clarity.
The accounting profession serves as the essential infrastructure of our market economy and the lingua franca of the global business community. As such, its robust development is vital to Hong Kong's future as an international financial centre. Supported by world-class professional and regulatory standards, our accountancy sector is a major pillar supporting logistics and other key sectors in Hong Kong and the broader Greater Bay Area.
As the statutory professional body of Hong Kong's accounting sector, the HKICPA plays a vital and foundational role under the regulatory regime. From conducting qualification examinations and setting professional standards to establishing requirements and delivering continuous professional development training, the Institute's rich experience and extensive network remain essential in our shared journey toward a sustainable and forward-looking profession. The Financial Services and the Treasury Bureau maintains close, collaborative ties with the HKICPA to formulate policies that support and elevate the sector.
Against this backdrop, allow me to highlight three areas where the HKICPA and the accounting profession are making a tangible contribution to Hong Kong's development.
First, in supporting national development and facilitating Mainland enterprises in going global. Under the "one country, two systems" framework, Hong Kong will continue to thrive as a two-way platform with our "super connector" and "super value-adder" role. Our national policy is to encourage Mainland enterprises to go global. Many Mainland enterprises are using Hong Kong as their springboard to go global, drawing on the city's strengths in capital raising, professional services and talent. To support their overseas operations, they need a comprehensive range of financial and professional services spanning trade finance, tax advisory and ESG (environmental, social and governance) consulting. In February 2025, the HKICPA launched a list of Hong Kong accounting firms with expertise in supporting Mainland enterprises to go global. The list now features more than 90 firms with knowledge of diverse overseas markets and the associated accounting and tax regulatory requirements. By leveraging deep expertise in overseas regulations and tax frameworks, our accountants enable Mainland enterprises to scale globally, serving national development with Hong Kong's distinct strength.
Second, in powering our innovation economy. The HKSAR (Hong Kong Special Administrative Region) Government is investing heavily in artificial intelligence, fintech, and advanced manufacturing to position Hong Kong as a leading hub for innovation, commercialisation, and talent attraction. Accountants can play a vital role in enabling and scaling up these technologies for economic growth. In this regard, I commend the HKICPA for regularly organising workshops and training programs that equip our professional accountants with the practical insights needed to embrace artificial intelligence effectively in their daily practice.
Third, in advancing green and sustainable finance. As corporations and investors increasingly prioritise ESG solutions, Hong Kong is accelerating its transition to full adoption of the International Financial Reporting Standards (IFRS) - Sustainability Disclosure Standards (ISSB Standards) no later than 2028. We are particularly proud that the HKICPA was officially appointed as an ISSB Training Partner by the IFRS Foundation in June 2026. This partnership underscores the Institute's leadership in equipping our professionals with cutting-edge sustainability expertise.
As our economy grows and technology advances, new specialisations are emerging at the intersection of accounting, technology, and sustainability. Coupled with a steady demand for high-quality professional services, there are abundant, rewarding career opportunities for newly qualified accountants and young talent entering the field. The accounting sector forms a critical pillar supporting our financial markets, powered by over 48 000 accounting professionals who fuel the growth of our financial services industry. The HKSAR Government remains fully committed to supporting the sustainable, long-term development of this important talent pool.
Ladies and gentlemen, a profession driven by purpose is a profession that shapes the future. As we look ahead, I am confident that the HKICPA and our entire accounting community will continue to lead with integrity, adapt with agility, and champion excellence. Thank you once again for your immense contributions to Hong Kong, and I wish you all a wonderful and memorable evening.
Thank you.
Source: AI-found images
