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HSBC, Hong Kong’s science park sign 3-year partnership to drive fintech development

  • Hong Kong’s biggest bank and start-up hub aim to build ‘international fintech corridor’ to further city’s goal of being international hub for such technology
  • HSBC will provide financial services to Hong Kong Science and Technology Parks companies and look to adopt their technologies

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A view of the Hong Kong Science Park in Sha Tin. Photo: Yik Yeung-man
Hong Kong’s largest bank HSBC and start-up hub Hong Kong Science and Technology Parks (HKSTP) will work together to drive fintech development, supporting the city’s aspiration of creating a digital economy and becoming an international hub for such technology.
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The two entities signed a three-year agreement on Monday to leverage their resources, expertise and networks to foster collaboration. The partnership is the first “public-private cooperation between the city’s largest innovation and technology ecosystem and leading global bank”, the companies said on Tuesday.

“Bank-fintech partnerships unlock value for parties on each side of the equation, making banking better for consumers and businesses alike,” said Luanne Lim, CEO of HSBC Hong Kong.

Under the partnership, HSBC and HKSTP will build an “international fintech corridor” that will see collaboration between Hong Kong fintech firms and global partners and attract companies to set up in the city. Outputs will include market insights, services, and events such as HKSTP’s annual event Elevator Pitch Competition.
Albert Wong, CEO of Hong Kong Science and Technology Parks (front left) and Luanne Lim, Hong Kong CEO of HSBC (front right) sign a three-year strategic partnership agreement on March 18, 2024. Photo: Handout
Albert Wong, CEO of Hong Kong Science and Technology Parks (front left) and Luanne Lim, Hong Kong CEO of HSBC (front right) sign a three-year strategic partnership agreement on March 18, 2024. Photo: Handout

Other focus areas include offering investment opportunities and financial services to fintech companies.

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