![](https://cdn.i-scmp.com/sites/default/files/styles/768x768/public/d8/images/canvas/2024/03/19/0dfa4636-7157-4c6b-9a10-3292ed1cd6cc_a25182be.jpg?itok=3ZaoGLFO&v=1710837572)
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
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.
![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](https://img.i-scmp.com/cdn-cgi/image/fit=contain,width=1024,format=auto/sites/default/files/d8/images/canvas/2024/03/19/65a0a7fd-6c71-461d-a1cd-a6f6c4a5c31f_8e4a294d.jpg)
Other focus areas include offering investment opportunities and financial services to fintech companies.
HSBC will provide finance and investment opportunities to at least 50 fintech companies nominated by HKSTP. The bank will also offer customised financial services such as payment, lending, foreign exchange, cash management and trade finance support to fintech firms in the HKSTP ecosystem.
HSBC will organise workshops to help fintech companies assess their products’ ability to operate safely in partnership with financial institutions and address gaps they identify. HKSTP will invite up to 20 fintech firms annually to these workshops.
The partners also plan to enhance capacities for cross-industry data collaboration, fostering innovation and accessibility to products and services.
Finally, HSBC will assess fintech solutions from HKSTP’s tech ventures and incorporate them into its products and services where appropriate.
The bank is “well-placed to connect fintechs with emerging opportunities in Hong Kong and beyond”, drawing on its expertise and experience operating in 62 countries and territories, Lim added.
“We stand ready to leverage our networks, offering tech ventures the crucial funding, mentorship and business matching to prosper,” said Albert Wong, CEO of HKSTP. “We aim to create synergies to thrive on interdependence and scale up Hong Kong’s fintech ecosystem.”
Hong Kong is home to 1,000 fintech companies and over 4,000 start-ups, including more than 10 unicorn companies valued over US$1 billion, according to InvestHK, a government promotion agency.
![](https://assets-v2.i-scmp.com/production/_next/static/media/wheel-on-gray.af4a55f9.gif)