Analysts are confident the city has an important role as a hub for the region, Analysts believe Hong Kong has the potential to serve as a stepping stone for foreign fintechs to enter the broader Asian markets. Interesting shift over the last years, as HK was always positioned as the stepping stone into China...now into Asia...which is the battle with Singapore
“Hong Kong’s history has always been as gateway for trade,” said d’Haussy on the sidelines of the Hong Kong Fintech Week. “It will be the same going forward: it is going to be the place where mainland fintech companies come to sell their platforms to the world.” He said the city should continue to use the role as a gateway between the mainland and the rest of the world to differentiate itself from flourishing regional competitors including Singapore and Shenzhen. “The capital markets are here, as are the world’s big banks.” Finding the city’s fintech groove has been a slow road for a territory that sits near the top of global competitiveness rankings, but lags behind when it comes to innovation in financial technology.