'HK crucial for mainland firms' global expansion'

Mainland companies have hailed the city’s annual flagship finance and technology event, saying it offers an opportunity for them to carry out exchanges with potential overseas partners. Speaking on the sidelines of the Hong Kong Fintech Week and StartmeupHK on Monday, Liu Yong from the Zhongguancun Fintech Industry Development said this year was their third time participating in the event. He said that the SAR’s role as a super connector was crucial for the mainland in setting up shop overseas. “Hong Kong can fully leverage its strength in international talent. Because in the international aspects, such as accounting standards, Hong Kong itself is an international financial centre – it has a very good foundation and conditions,” he said. Mu Rong from the Greater Bay Area fintech delegation noted that some firms focusing on securities and asset management, which used to adopt a wait-and-see approach, have gradually set up shop in Hong Kong to start doing business overseas. “Some of these tech companies have started making profits. The orders that they received from overseas customers were even larger than those from the mainland,” she said. “This shows that Hong Kong fully recognised their technical capabilities.” Mu went on to say that firms that wish to expand to international...