Thirdly, the economic development of the mainland has created excellent conditions for the continuity and further strengthening of Hong Kong’s prosperity and stability. Economic development in the mainland provides a strong support to Hong Kong’s economic development. China is confident in Hong Kong’s maintaining prosperity and stability after 1997 because we have full confidence in the economic development in China.
In view of the above challenges that the fintech companies may present, it seems to make business sense for the brick and mortar banks to collaborate with the more efficient and agile fintech players. The banks would need to assess the likely impact of disruption and re-orient their business models.