Hong Kong is putting substantial focus on financial technology, or fintech, to compete with Singapore and Tokyo as the fintech capital of Asia. The Government budgeted over HK$17 billion (equivalent to approximately US$2 billion1) to begin building the key infrastructure to support a fintech center in Hong Kong. The HKMA has recently announced a series of policy initiatives to embrace technology development in Hong Kong, including setting up a "fintech innovation hub" and introducing a relaxed regulatory regime for fintech. Hong Kong’s potential Fintech is a catch-all term used to refer to emerging digital technologies that make financial services more efficient. Hong Kong has some strong advantages for development as Asia’s fintech center, including proximity to Mainland China, presence of major banks and financial institutions, comparatively cheap tech talent to name a few

http://www.jdsupra.com/legalnews/fintech-in-hong-kong-where-there-s-a-77328/