Source: Hong Kong Government special administrative region
Following is the speech by the Financial Secretary, Mr Paul Chan, at Hong Kong FinTech Week x StartmeupHK Festival 2025 today (November 3):
Distinguished guests, ladies and gentlemen,
I’m delighted to join you today, and I know we’re all looking forward to the fireside chat with the group CEOs of two of Hong Kong’s leading banks — a conversation that promises to be insightful and inspiring.
But before we begin, allow me to share some points about the Government’s policy vision in driving forward fintech development in Hong Kong.
Regulators as enablers of innovation
The second observation is that regulators can and should be enablers of innovation. In Hong Kong, our financial regulators have a dual mandate — prudent regulation and market development facilitation.
Responsible and sustainable innovation
Third, responsibility and sustainability are vital in financial innovation — especially in areas like digital assets and AI. While we must encourage innovation, we must also ensure its real-world applicability, investor protection, and financial stability impact.
When it comes to regulating digital assets — whether digital asset trading platforms or stablecoins — we adhere to the principle of “same activity, same risk, same regulation”. In particular, our regulatory approach to stablecoins is clear: they are not intended for investment, but rather as a tool to facilitate cross-border transactions and real-world economic activity. That’s why, under our licensing regime, approvals will be granted only to applicants that demonstrate genuine use cases backed by sustainable and robust business model.
Concluding remarks
Ladies and gentlemen, as we mark the 10th anniversary of Hong Kong FinTech Week and the StartmeupHK Festival, we’re celebrating a decade of impact, ambition and bold ideas.
Thank you.