Hong Kong Government Uses FinTech Sandboxes to Spur Innovation

Hong Kong’s regulator believes that the market can serve as a gateway to Mainland China and as an ideal region for FinTech development.

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The Hong Kong government, he said will "keep abreast" of developments in countries that have implemented regulatory sandboxes for fintech activity. He added that it will examine if existing regulations in Hong Kong are sufficient to drive growth, or if changes need to be made.

"We will keep abreast of the development following the implementation of the sandboxes, and examine whether exemptions provided in the existing regulations in Hong Kong could achieve the same effect," Chan said.

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