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Fintech Giant WeBank Makes Hong Kong Its Tech Hub
To boost Hong Kong’s tech scene, digital bank WeBank from Shenzhen announced plans to establish its tech headquarters in the city. This move is backed by a significant investment of up to US$150 million and is expected to create high-skilled tech jobs in Hong Kong. Through the Financial Services and the Treasury Bureau (FSTB) and InvestHK, the Hong Kong government actively supported WeBank’s decision.
The establishment of WeBank’s operation in Hong Kong has been the result of extensive coordination between the FSTB and InvestHK to ensure that the company is well positioned for success upon commencing its activities in our city,”
said the Director-General of InvestHK, Alpha Lau.
WeBank’s choice of Hong Kong stems from the city’s reputation as a global business and financial technology hub. The new headquarters will focus on research and development, aiming to develop and commercialize innovative tech solutions for the international market. This aligns perfectly with Hong Kong’s aspirations under the Belt and Road Initiative.
WeBank President Li Nanqing expressed optimism about the new venture, highlighting Hong Kong’s strong points in facilitating global business connections and fostering financial technology innovation.
“Hong Kong has emerged as a centre of excellence in global business connectivity and financial technology innovation. It offers us an ideal environment to advance our innovation and expand our international footprint,”
said Li Nanqing.
WeBank is known for offering inclusive financial services to millions of small businesses and individuals in China. The bank has also made a name for itself through its dedication to innovation, evidenced by the vast number of patent applications it has filed. This move by WeBank signifies Hong Kong’s continued attractiveness to international tech companies and positions the city as a key player in the global fintech landscape.
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