HK fintech sector faces constraints, survey says

Business | 8 Nov 2019 5:50 pm

The University of Hong Kong anticipates a positive year for fintech development, with its FinTech Growth Index rising by 52.9 percent year-on-year while the sub-index measuring confidence in the business environment inched up by 5 percent.

The index represents responses to an annual survey by 38 companies in the local fintech industry and is compared to the companies’ responses in the base period of 2018-2019 set at 100 points. It includes four sub-indices on business environment, business performance, investment in research and development and demand on talent.

It reflects the sector’s forecast of the market situation in the coming year and an assessment of the situation in the current year, the university said.

"A weak sub-index in the business environment has drawn caution to insufficient support to the sector," said the university, which would hamper companies’ confidence in further investing.

The companies, in general, refer to constraints from external factors such as investment environment, government policy and regulations.

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