2020 Economic Summit Forum｜Chen Jiaqiang: The government must promote science and technology to foster long-term scientific research capabilities

Financial News

Author: Zhai Ziqian

2021-02-01 12:19

The last update date: 2021-02-01 12:41

Former Secretary of Financial Services and the Treasury Bureau and Chairman of the Board of Directors of WebLab Bank Chen Jiaqiang attended the "Hong Kong 01" 2020 Economic Summit today. He said that although Hong Kong and Shenzhen have a huge gap in innovation and technology, Hong Kong is still able to innovate and develop in the Greater Bay Area. Play a certain role.

Chen Jiaqiang pointed out that financial technology is a hot topic. It is not a very magical new thing. It is the integration of traditional financial technology and new economic activities, including the digitalization of e-commerce, and even digital finance in banking, investment, and listing. .

In May last year, four ministries and commissions including the People's Bank of China issued the "Opinions on Financial Support for the Construction of the Guangdong-Hong Kong-Macao Greater Bay Area", which mentioned that financial technology took up a lot of space and supported Shenzhen to become a leader in technological innovation.

Chen Jiaqiang said that there will be more "interconnections" in the future, such as Wealth Link and Insurance Link, which involve many regulatory and legal issues, "all of which can be solved with technology" to achieve policy goals.

Former Secretary for Financial Services and the Treasury, Chen Jiaqiang attended the "Hong Kong 01" 2020 Economic Summit Forum today. He stated that Hong Kong can play a certain role in the innovation and development of the Greater Bay Area.

Virtual Bank introduces financial technology to mainland science and technology enterprises to truly land

As for how Hong Kong builds its own innovative technology ecosystem, Chen Jiaqiang believes that Shenzhen has many leading technology companies, while Hong Kong technology companies tend to be small, located in Science Parks and Cyberports. Most of them use technology to solve problems and then sell methods to them. Large companies, for example, integrate small technology into the financial system, including asset management and lending.

Chen Jiaqiang also mentioned the virtual banking industry. The Hong Kong Monetary Authority launched virtual banks two or three years ago. "At that time, Hong Kong was the first in Asia to go out." There were many participants in the technology innovation companies in the Mainland.

Chen Jiaqiang pointed out that by allowing service providers to enter the Hong Kong market, thereby driving interaction between the two places, it can also force the transformation of local traditional banks.

He said frankly that if the virtual bank experiment is successful, fintech can really land in Hong Kong, and this model can be applied to different regions.

In the long run, Chen Jiaqiang believes that Hong Kong must cultivate the ability to develop science and technology before it can play an important role.

In addition, referring to the emergence of digital renminbi, Chen Jiaqiang expects that there will be more cross-border renminbi payment activities in the future. In Hong Kong, the Greater Bay Area, and even overseas, the popularity of e-wallets will become more competitive with existing payment systems. , There are great business opportunities.

Chen Jiaqiang reiterated that the technology innovation industry cannot be without economies of scale. Hong Kong market alone cannot succeed. Therefore, the Hong Kong government must strengthen the promotion of technology innovation, so that technology innovation can be developed domestically and overseas on a large scale to be successful.

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