Manulife (International) plans to expand investment and operations in Hong Kong, following its re-domiciliation to the city last December.
The Financial Services and the Treasury Bureau welcomed the move, saying that it “fully demonstrated its unwavering confidence in Hong Kong as an international financial center and a hub for AI development.”
The plan includes a further increase in AI investment and posting its Asian chief artificial intelligence officer to Hong Kong, according to a statement from the bureau.
Secretary for Financial Services and the Treasury Christopher Hui Ching-yu said the expansion plan will help drive digital transformation and innovation application in the insurance industry, showcasing Hong Kong's regional leadership in the 'finance + AI' field.
The FSTB will continue to work closely with regulators and the industry to actively encourage financial institutions to adopt AI in a responsible manner, continuously optimise the regulatory regime, promote the deep integration of AI and the financial sector, and help Hong Kong seize opportunities from the global technology revolution for further consolidation of its status as an IFC, Hui said.
