HKIA inks MoU with China and Macau

The agreement aims to step up their collaboration on innovation in financial services.

Hong Kong’s Insurance Authority has signed a memorandum of understanding on Fintech Co-operation with the China Banking and Insurance Regulatory Commission and the Monetary Authority of Macau.

Under the agreement, the three regulators will step up their collaboration on innovation in financial services and consider organising joint innovation projects on the application of novel financial technologies.

“These MoUs herald deepened co-operation between Hong Kong, the Mainland, and Macau on innovation and technology, injecting momentum into the process of enhancing financial connectivity within the Guangdong-Hong Kong-Macau Greater Bay Area. The end result is improved mobility of people and capital that will confer benefits on a wide range of trades and professions,” said Insurance Authority Chief Clement Cheung.