Key Information

inSight
Speeches
Speeches by Speaker
Norman T.L. Chan
Peter Pang
Eddie Yue
Arthur Yuen
Zeti Akhtar Aziz
Raymond Li
Edmond Lau
Esmond Lee
Meena Datwani
Vincent W.S. Lee
James Lau
Joseph Yam
Y K Choi
William Ryback
David Carse
Tony Latter
Andrew Sheng
Hans Genberg
Simon Topping
Michael Taylor
The Honourable Donald Tsang
Chen Yuan
Dai Xianglong
Don Brash
Jaime Caruana
Andrew Crockett
Mario Draghi
David Eldon
Stanley Fischer
Timothy F. Geithner
Stephen Grenville
Kenneth G. Lay
William McDonough
Ernest Patrikis
Glenn Stevens
Jean-Claude Trichet
Tarisa Watanagase
Zeti Akhtar Aziz
Carmen Chu
Press Releases
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
Press Releases by Category
Bogus Voice Message Phone Calls
Banking in Hong Kong
Fraudulent Websites, E-mails and Telephone System, and other fraud cases
Granting of Banking Licences
Exchange Fund
Table of Multiples of Notes and Payments for Allotted Amount under non-competitive tender
Table of Multiples of Notes and Payments of Application Amount under non-competitive tender
Tender of Exchange Fund Bills and Notes
Tender Results of Exchange Fund Bills and Notes
Tentative Issuance Schedule for Exchange Fund Bills and Notes
Appointments and Departures
HKMA Pay Review
HKMA Publications
Speeches
The Hong Kong Mortgage Corporation
Hong Kong Note Printing Limited
Hong Kong Institute for Monetary Research
Exchange Fund Investment Limited
Others
Hong Kong Financial Infrastructure
International Relations
Investment Products Related to Lehman Brothers
Monetary Policy
Notes and Coins
Renminbi business
Credit Card Lending Survey
Monetary Statistics
Residential Mortgage Survey
Year 2000
Others
Guidelines and Circulars
Guidelines
Circulars
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
296.881

insight

FFO’s Summer Projects

(Translation)

Every summer, most parents are busy planning on activities to enrich the summer holiday for their children.  This year, the HKMA’s Fintech Facilitation Office (FFO) was also busy with summer projects, which were two summer programmes for nurturing fintech talents.  We had spent a very innovative and energetic summer with the participants.

MEFTI organised with the MIT Hong Kong Innovation Node

The more recent event was the inaugural MIT Entrepreneurship and FinTech Integrator (MEFTI) startup bootcamp, organised by the MIT Hong Kong Innovation Node and supported by the FFO as a strategic partner.  After an open application process, 12 MIT students and 14 local university students were chosen to participate in a one-week intensive training to prepare themselves as future fintech entrepreneurs.

Needless to say, the MIT is world-renowned for its research.  One of the purposes of the MEFTI startup bootcamp is to enhance students’ understanding and awareness of fintech.  In addition to using teaching materials from the MIT business school, the bootcamp invited experts from the fintech industry to share their experience in the application of artificial intelligence, blockchain and big data for better customer services.  After grasping the basics of technology, students learnt how to raise funds in order to better equip themselves for starting their own business in the future.  The HKMA also gave the students a briefing on financial regulations in Hong Kong.  This helped the students to understand that compliance with regulations is as important as devising a viable business plan.

This week-long startup bootcamp was much more intensive than their regular school days.  The schedule was filled up with various activities from 9:00am to 10:00pm each day.  There were thematic workshops, sharing sessions by industry experts, group discussions as well as a short trip to Shenzhen to visit fintech firms.  On the last day of the bootcamp, students had to take part in a competition on devising a business plan based on what they had learnt during the week.  As one of the judges, I was impressed by the students’ boundless creativity and deeply moved by their enthusiasm for fintech.

Shenzhen Fintech Summer Internship Programme

The other summer project of the FFO was the Shenzhen Fintech Summer Internship Programme (Programme).  Under the Programme, 50 tertiary students in Hong Kong were assigned to eight leading fintech firms in Shenzhen for a six-week internship.  The participating companies and students were very pleased with the overall arrangement.  More importantly, the interns got the chance to acquire on-the-job training in the fintech world.  During the graduation ceremony of the Programme, I found it heartening to learn that one of the students from business major was assigned with a computer programming task.  Albeit without technical background, the student managed to go home with a fresh new skill acquired through the on-the-job training.  Apart from learning day-to-day hands-on skills from the workplaces, the students also had the opportunity to experience the life style and ecosystem in Shenzhen, such as the even more congested train compartments during peak hours than those in Hong Kong and a higher degree of reliance on mobile payments in their daily life.

These two “summer projects” reflect Hong Kong’s strength in fintech.  On the one hand, we partner with world-renowned colleges in organising startup bootcamps in Hong Kong, broadening the global perspectives of local students.  On the other hand, Hong Kong is conveniently located just next to Shenzhen, which is also dubbed the “Silicon Valley of China.”  By leveraging the internship experience in Shenzhen, local students can better prepare for closer integration in fintech development within the Greater Bay Area in the future.

Undoubtedly, the global fintech industry has strong demand for talents.  When meeting with industry stakeholders from time to time, I was often told that Hong Kong needs to have more fintech talents.  In this regard, the HKMA has always been playing a proactive role in nurturing local fintech talents that are well-versed with both theory and practical experiences, thereby building fintech career pathways for young people in Hong Kong and developing a more comprehensive fintech ecosystem in Hong Kong.

 

At the inaugural startup bootcamp organised by the MIT Hong Kong Innovation Node, known as the MIT Entrepreneurship and FinTech Integrator, students rack their brains to come up with innovative and practical startup plans.
At the inaugural startup bootcamp organised by the MIT Hong Kong Innovation Node, known as the MIT Entrepreneurship and FinTech Integrator, students rack their brains to come up with innovative and practical startup plans.

 

Nelson Chow
Chief Fintech Officer
Hong Kong Monetary Authority

13 September 2018

Last revision date: 14 September 2018
ABOUT THE HKMA
The HKMA
Tender Invitations
Careers@HKMA
Legislative Council Issues
Links
The HKMA Information Centre
KEY FUNCTIONS
Monetary Stability
Banking Stability
International Financial Centre
Exchange Fund
PUBLICATIONS & RESEARCH
Annual Report
Half-Yearly Monetary & Financial Stability Report
Quarterly Bulletin
HKMA Background Briefs
Reference Materials
Research
MARKET DATA & STATISTICS
CMU Bond Price Bulletin
Economic & Financial Data for Hong Kong
Monthly Statistical Bulletin
Monetary Statistics
KEY INFORMATION
Press Releases
Speeches
Guidelines & Circulars
Forthcoming Events
inSight
OTHER INFORMATION
Information in Other Languages (Bahasa Indonesia, हिन्दी, नेपाली, ਪੰਜਾਬੀ, Tagalog, ไทย, اردو)
Account Opening
Consumer Corner
Consumer Education Programme
Complaints about Banks
Complaints about SVF Licensees
Internet Banking
Fraudulent Bank Websites, Phishing E-mails and Similar Scams
Be Careful of Bogus Phone Calls and SMS Messages
Authenticate the Callers and Bank Hotline Numbers
Register of AIs & LROs
Register of Securities Staff of AIs
Register of SVF Licensees
Investment Products Related to Lehman Brothers
Photo Gallery