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Hong Kong Government Highlights Strategic Support for Entrepreneurs at EY Entrepreneur Of The Year 2025 Launch
Secretary for Financial Services and the Treasury outlines initiatives to bolster innovation, green finance, and SME access to funding
Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, addressed the launch ceremony of the EY Entrepreneur Of The Year 2025 programme on May 16, marking the 20th anniversary of the initiative in the Greater China region.
In his speech, Hui emphasized Hong Kong's role as a leading financial centre, citing its open market, common law system, free flow of capital and information, and a skilled talent pool as key factors that support entrepreneurial growth.
Hui detailed several government-led initiatives aimed at fostering innovation and supporting small and medium enterprises (SMEs).
Among these is the Commercial Data Interchange platform, which facilitates data sharing between businesses and banks to enhance access to trade financing.
Since its inception, the platform has processed over fifty thousand loan applications, amounting to forty-one point nine billion Hong Kong dollars.
The government has also introduced the Green and Sustainable Fintech Proof-of-Concept Funding Support Scheme.
Launched in June 2024, this scheme provides early-stage funding of up to one hundred fifty thousand Hong Kong dollars per project to support technology companies and research institutes engaged in green fintech activities.
To date, thirty-nine applicants have been approved, encompassing sixty projects.
Additionally, the Fintech Connect platform has been established to link financial institutions with fintech solution providers, promoting the adoption of innovative technologies.
The government is also investing in talent development through training subsidies for fintech practitioners and capacity-building programmes in green and sustainable finance.
Hui highlighted the Generative AI Sandbox, a collaborative initiative between the Hong Kong Monetary Authority and Cyberport.
This sandbox environment allows banks to test innovations in areas such as fraud prevention, compliance, and customer service.
Furthermore, the government is developing a regulatory framework for stablecoins and preparing a policy statement on the development of virtual assets, aiming to support responsible innovation while maintaining market integrity.
The EY Entrepreneur Of The Year programme, established in the Greater China region in 2006, recognizes entrepreneurs who have achieved success by combining ability with opportunity.
The programme celebrates its twentieth anniversary in the region this year.
In his speech, Hui emphasized Hong Kong's role as a leading financial centre, citing its open market, common law system, free flow of capital and information, and a skilled talent pool as key factors that support entrepreneurial growth.
Hui detailed several government-led initiatives aimed at fostering innovation and supporting small and medium enterprises (SMEs).
Among these is the Commercial Data Interchange platform, which facilitates data sharing between businesses and banks to enhance access to trade financing.
Since its inception, the platform has processed over fifty thousand loan applications, amounting to forty-one point nine billion Hong Kong dollars.
The government has also introduced the Green and Sustainable Fintech Proof-of-Concept Funding Support Scheme.
Launched in June 2024, this scheme provides early-stage funding of up to one hundred fifty thousand Hong Kong dollars per project to support technology companies and research institutes engaged in green fintech activities.
To date, thirty-nine applicants have been approved, encompassing sixty projects.
Additionally, the Fintech Connect platform has been established to link financial institutions with fintech solution providers, promoting the adoption of innovative technologies.
The government is also investing in talent development through training subsidies for fintech practitioners and capacity-building programmes in green and sustainable finance.
Hui highlighted the Generative AI Sandbox, a collaborative initiative between the Hong Kong Monetary Authority and Cyberport.
This sandbox environment allows banks to test innovations in areas such as fraud prevention, compliance, and customer service.
Furthermore, the government is developing a regulatory framework for stablecoins and preparing a policy statement on the development of virtual assets, aiming to support responsible innovation while maintaining market integrity.
The EY Entrepreneur Of The Year programme, established in the Greater China region in 2006, recognizes entrepreneurs who have achieved success by combining ability with opportunity.
The programme celebrates its twentieth anniversary in the region this year.
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