Press Releases in Hong Kong

Chuang: A bright future awaits HK’s fintech, payments industry

This photo taken on Sept 28 2021shows Chuang Tze-cheung, founding chairman of the Greater Bay Area Fintech Promotion Association. (CALVIN NG/CHINA DAILY)

Editor’s note: In the run-up to the 72nd anniversary of the founding of the People’s Republic of China, China Daily interviewed Hong Kong residents, including expatriates living in the city, from various sectors and different backgrounds, about the close bond between the city and its motherland. This is the eighth piece of the series. 

Chuang Tze-cheung, founding chairman of the Greater Bay Area Fintech Promotion Association, sees a bright future for Hong Kong’s business sector, especially the fintech and payments industry. 

How do you see relations between Hong Kong and the country? What do you think of the significance of “one country, two systems” to Hong Kong? Can you elaborate on your views with your own experience? 

The Hong Kong Special Administrative Region is a non-separable part of China. The Communist Party of China has a great leadership and their determination ensured Hong Kong’s return to the motherland. 

“One country, two systems” is an unshakable cornerstone laid by the central government to ensure Hong Kong’s long-term stability and prosperity. Therefore, we must accurately understand and fully implement the “one country, two systems” policy.

As relations between Hong Kong and the Chinese mainland get closer, especially with the development of the GBA, which area or industry will you be keeping your eye on, and why? 

As China has achieved its first centenary goal and is striving for the second, we should be able to see many great opportunities brought about by the development of the Bay Area and Qianhai cooperation zone. We should seize opportunities brought about by the changes to proactively integrate into the overall national development and the development of the Bay Area and give full play to our strengths, while contributing to the needs of the country. 

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Under the nation’s long-term development plan, Hong Kong is seen strategically as a global innovation and technology center while Shenzhen remains our nation’s innotech hub. We should leverage our geographical advantage and support offered by Shenzhen to become the world’s top innovation and technology hub. It will require a large number of tech talents in the following 10 years, offering them opportunities to chase their dreams.

What’s your expectation on Hong Kong’s further development, especially in the area or industry you are interested in?

I see a bright future in the business sector, especially the industry I work for – fintech and payment industry. Fintech and payments are the backbones of all supply chains and ecosystems of areas ranging from retails to trading, from hotels to professional services, including legal, banking and insurance industries. They are basically an integral part of all.

What wishes will you extend to China, including Hong Kong, on the PRC’s 72nd anniversary?

Today marks the 72nd anniversary of the founding of the People’s Republic of China and a jubilant National Day. I would like to express my gratitude to the central government for restoring social order and prosperity in Hong Kong and helping to bring over 800 million Chinese people out of extreme poverty.