The Hong Kong Investment Corporation has announced a strategic partnership with local fintech firm WeLab to advance the use of artificial intelligence in the financial technology sector.
WeLab – a homegrown unicorn backed by billionaire Li Ka-shing – also revealed plans to pursue a digital banking licence in Thailand, which would mark its third such licence after securing approvals in Hong Kong and Indonesia.
Speaking at the signing ceremony, Financial Secretary Paul Chan Mo-po said the collaboration would help local and regional firms harness AI and fintech innovations.
Hong Kong is now home to around 1,100 fintech companies and start-ups, including 10 unicorns, Chan said, adding that the fintech ecosystem is expanding rapidly, especially in areas such as digital assets, blockchain and cybersecurity.
WeLab said the partnership with HKIC would accelerate the development of AI agents and related applications in the SAR, with a long-term goal of exporting its services across the region.
The ceremony also marked the launch of the summit "Pioneering AI-Finance • Powering Asia’s Digital Future.”
CICI CAO
