Coronavirus has failed to dent Hong Kong’s fintech push, future role as fundraising hub for bay area, say experts



a flag on the side of a building: Hong Kong’s finance sector has remained ‘vibrant’ despite the health crisis, as unemployment in the sector remained below 3 per cent. Photo: EPA


Hong Kong’s finance sector has remained ‘vibrant’ despite the health crisis, as unemployment in the sector remained below 3 per cent. Photo: EPA

Hong Kong’s financial sector, its use of financial technology and role as a fundraising centre for the cities of southern China have weathered the coronavirus outbreak and even thrived in some areas, according to a panel of industry players.

The city’s finance sector has remained “vibrant” despite the health crisis, as unemployment in the sector remained below 3 per cent, much better than the overall figure of 6.1 per cent , said Rocky Tung, head of policy research on the Financial Services Development Council, a government advisory body.

“The development of the (Greater Bay Area) has been continuous. The financial sector is relatively less affected by Covid. In terms of trading (and) IPOs, we are also very vibrant,” said Tung.

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Norway will use the Apple-Google API to replace its failed COVID-19 app

After the privacy issues surrounding its first attempt at a contact tracing app, Norway is planning to develop a second, this time using the privacy-focused technology produced in Apple and Google’s joint project.

Norway is set to become the next country to develop an app for tracing the spread of COVID-19 across the population, one that will use Apple and Google’s contact tracing system. The technology, which is used to keep track of when people get in close proximity to others and whether they are at risk of infection from a carrier, will be at the heart of the new app for Norway, following the country’s troubled first attempt.

Health minister Bent Hoeie advised to Reuters on Monday that the app would use the Apple-Google system, instead of a home-grown version. “This app is purely for tracking infection, it doesn’t store data centrally,” stressed Hoeie.

The initial

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