European fintech firms eyeing Hong Kong as Asia base, Paul Chan says

Finance minister has wrapped up Davos trip, says leading fintech players showing interest in expanding to Hong Kong

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Finance chief Paul Chan says Beijing’s support for collaboration gives the global economy stability. Photo: May Tse

Published: 3:38pm, 26 Jan 2025Updated: 7:36pm, 26 Jan 2025

Some leading European fintech companies are planning to make Hong Kong their base in Asia, the finance chief has said, touting his recent trip to a global economic forum in Switzerland as a way to expand the city’s network.

Financial Secretary Paul Chan Mo-po also said on Sunday that Beijing’s support for collaboration provided stability to the global economy, with business leaders at the World Economic Forum in Davos last week voicing worries over increased fragmentation.

Chan said his five-day trip, which ended on Friday last week, allowed him to further expand Hong Kong’s “network of friends”.

He said he had invited senior financial officials, business leaders and executives to lead delegations to the city and the Greater Bay Area to explore the vast opportunities available.

“During this annual meeting, leading financial technology companies from Europe expressed plans to settle in Hong Kong as a base for expanding their businesses in Asia,” Chan said, without naming the firms.

“This year, we will continue to intensify efforts to promote Hong Kong, allowing more friends from both domestic and international regions to understand, leverage and contribute to Hong Kong.”

Earlier in his trip, Chan met the head of Britain-based fintech company Revolut, which specialises in digital banking services, to learn about the latest developments in their operations, cryptocurrency trading and security risk management.

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