Switzerland, Hong Kong open dialogue over Fintech

The State Secretariat for International Financial Matters (SIF) under the Swiss Federal Department of Finance and the Hong Kong Monetary Authority (HKMA) launched on Tuesday in Bern a financial dialogue to promote co-operation on financial market issues of common interest. At the margin of the Dialogue, the Swiss Bankers Association (SBA) and the HKMA facilitated an open seminar for the private sector.

Governments in countries with strong financial markets currently face demands for better regulation of emerging industries such as the issuance of crypto coins and fintech, while at the same time being asked to reduce the burden of an ever-tightening regulatory framework on the banking industry.

The two sides also exchanged views on current policy development and areas of future collaboration at bilateral and multilateral level, such as Renminbi (RMB) internationalisation, wealth management and Financial Technologies (Fintech).

The Swiss Bankers Association chaired a seminar for the private sector to exchange views on the latest financial trends and developments before the official meeting of the two authorities.