Close this search box.

We are creating some awesome events for you. Kindly bear with us.

Hong Kong Fully Behind E-Commerce Development

Hong Kong E-Commerce Development

Hong Kong remains favourably positioned to develop e-commerce and to serve as the region’s e-commerce hub, the city’s Finance Minister state.

The region is equipped with world-class information and communications technology infrastructure and a household broadband penetration rate of about 93%. In addition, Hong Kong’s mobile penetration rate has reached a remarkable 280%.

The HKSAR government is committed to helping Hong Kong business, particularly SMEs (small and medium-sized enterprises), take full advantage of the digital transformation sweeping the world.

For example, Hong Kong’s Technology Voucher Programme helps SMEs procure technological services and solutions to improve their productivity, transform their practices and enhance their online business while upgrading cybersecurity measures.

The region is also dedicated to making money in faster and more efficient ways. Last year, the Monetary Authority launched the Faster Payment System, enabling individuals and businesses to transfer funds instantly, seven days a week, 24 hours a day.

The system has now recorded more than 3.6 million registrations. Transaction volume has also jumped by nearly 10% every month, with the average number of daily transactions exceeding 150,000 with a total amount of around $2.2 billion a day.

The Hong Kong Special Administrative Region Government now accepts payments of taxes, rates and water charges through the Faster Payment System.

At the same time, the government established a common QR code. This standard is to help promote mobile retail payments while providing a consistent user experience for merchants and consumers.

The city is also working to create a smart city, focusing on the more than 70 measures recommended in the Smart City Blueprint for Hong Kong. Together with its pro-innovation government procurement policy, this should expand opportunities for local SMEs and startups.

OpenGov Asia recently reported that fintech development in Hong Kong has gathered remarkable momentum ever since the first FinTech Week three years ago.

HKMA’s fintech initiatives have successfully created a vibrant fintech ecosystem. The government and its various agencies and bodies are looking forward to partnering with various partners including financial institutions, end-users, start-up firms, technology service providers, investors and regulators to walk towards the shared purposes of driving innovation, enhancing customer experience and facilitating financial inclusion.

OpenGov Asia also reported that Hong Kong is one of the few places in the world that attracts FinTech companies from both East and West.

The city has had a longstanding reputation for being welcoming of business and talent. This is reflected in it being named the world’s freest economy for the 25th consecutive year in January 2019.

Moreover, Hong Kong is the world’s third-largest and Asia’s biggest financial centre. It is also second in the world for insurance and number one in Asia for asset management.

The city also provides companies from overseas a combination of location, infrastructure, financial hub, legal system and local talent that simply cannot be matched elsewhere.

Hong Kong is home to more than 550 fintech companies and start-ups, covering services in areas of payment, AI, wealthtech, blockchain and insurtech, and has so far nurtured fintech unicorns with a total valuation of approximately US$8.5 billion.

Fintech companies in Hong Kong have raised approximately US$1.1 billion over the past five years. And there is a growing number of fintech innovation labs, associations and special interest groups led by the fintech community and accelerator programmes in Hong Kong, as well as corporate start-up engagement.

The Hong Kong government supports the sector and has strengthened cooperation with regulators in other jurisdictions to encourage cross-border fintech development.


Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.


CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.


Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit


SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.


HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 


IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.