Corporate News
HKSTP and Tencent Sign MoU to Spur Fintech R&D Development and Deployment in Hong Kong
New collaboration combines strengths of both parties to encourage more home-grown Fintech start-ups and fuel Hong Kong’s innovation and technology ecosystem
29 Jan 2019

Hong Kong Science and Technology Parks Corporation (HKSTP) today signed a Memorandum of Understanding (MoU) with Tencent to accelerate the R&D development and deployment of Fintech in Hong Kong. Officiating guests of the signing ceremony included:  Albert Wong, Chief Executive Officer, HKSTP (third from the left) Howe Zheng, Vice President, Tencent Financial Technology Group (third from the right) George Tee, Chief Technology Officer, HKSTP (second from the right) James Li, Senior Director, Hong Kong, Macau and Cross-Border FinTech Affairs, Tencent Financial Technology Group (second from the left) Peter Yeung, Head of Electronic & ICT Clusters, Smart City Platform, HKSTP (first from the left) Tim Leung, Senior Director, Hong Kong, Macau and Cross Border FinTech Products, Tencent Financial Technology Group (first from the right)

Hong Kong Science and Technology Parks Corporation (HKSTP) today signed a Memorandum of Understanding (MoU) with Tencent to accelerate the R&D development and deployment of Fintech in Hong Kong. Officiating guests of the signing ceremony included:

  • Albert Wong, Chief Executive Officer, HKSTP (third from the left)
  • Howe Zheng, Vice President, Tencent Financial Technology Group (third from the right)
  • George Tee, Chief Technology Officer, HKSTP (second from the right)
  • James Li, Senior Director, Hong Kong, Macau and Cross-Border FinTech Affairs, Tencent Financial Technology Group (second from the left)
  • Peter Yeung, Head of Electronic & ICT Clusters, Smart City Platform, HKSTP (first from the left)
  • Tim Leung, Senior Director, Hong Kong, Macau and Cross Border FinTech Products, Tencent Financial Technology Group (first from the right)

Through the signing of the MoU, HKSTP and Tencent will combine their strengths and expertise to encourage more home-grown Fintech start-ups and fuel Hong Kong’s innovation and technology ecosystem.  [Front row, from left to right]  Peter Yeung, Head of Electronic & ICT Clusters, Smart City Platform, HKSTP James Li, Senior Director, Hong Kong, Macau and Cross-Border FinTech Affairs, Tencent Financial Technology Group [Back row, from left to right]  George Tee, Chief Technology Officer, HKSTP Howe Zheng, Vice President, Tencent Financial Technology Group

Through the signing of the MoU, HKSTP and Tencent will combine their strengths and expertise to encourage more home-grown Fintech start-ups and fuel Hong Kong’s innovation and technology ecosystem.

[Front row, from left to right]

  • Peter Yeung, Head of Electronic & ICT Clusters, Smart City Platform, HKSTP
  • James Li, Senior Director, Hong Kong, Macau and Cross-Border FinTech Affairs, Tencent Financial Technology Group

[Back row, from left to right]

  • George Tee, Chief Technology Officer, HKSTP
  • Howe Zheng, Vice President, Tencent Financial Technology Group

 

Hong Kong, 29 January 2019 – Hong Kong Science and Technology Parks Corporation (HKSTP) today signed a Memorandum of Understanding (MoU) with Tencent to accelerate the R&D development and deployment of Fintech in Hong Kong by combining Tencent’s revolutionary and advanced technology capabilities with HKSTP’s infrastructure and vibrant innovation and technology (I&T) ecosystem.

Through this MoU, Tencent will bring its resources and technological expertise in areas such as payment systems, electronic wallets, data security, Internet of Things, blockchain, artificial intelligence and cloud computing to HKSTP to benefit the park companies and incubatees as they foster various Fintech innovations. HKSTP will provide access to the park’s Research & Development capabilities, serving as a testbed for innovations powered by Tencent’s technologies, and developing case studies for the initiatives. The two parties will also consider setting up an experience centre at HKSTP’s premises for Fintech R&D. The cooperation will strengthen the innovation of artificial intelligence, robotics, healthtech and smart city.

Tencent and HKSTP will also work together to nurture and support the growth of start-ups in Hong Kong through exploring investment opportunities; establishing a talent development programme to facilitate and promote knowledge exchange among programme participants; launching a joint incubation programme and setting up an open technology innovation platform to support Fintech innovation and R&D.

Howe Zheng, Vice President, Tencent Financial Technology Group, said, “As a leading provider of Internet value-added services in China, Tencent is excited about the collaboration with HKSTP to foster the Fintech development in Hong Kong, as well as to cultivate the local start-up community. At Tencent, we provide advanced financial technologies which make daily tasks easier, simpler and more secure. With our expertise and insights in a range of innovations such as payment, electronic wallets, data security, artificial intelligence and cloud, as well as our strengths, experience and network in the local Fintech industry and startup community, we look forward to working hand-in-hand with HKSTP and contributing to the Fintech growth and success in Hong Kong.”

Albert Wong, Chief Executive Officer, HKSTP, said, “Hong Kong is becoming an international Fintech hub with more than 100 Fintech companies and start-ups at Hong Kong Science Park conducting R&D in technologies covering artificial intelligence, blockchain, cybersecurity and other key technologies. The addition of Tencent, a global technology powerhouse, will not only attract more technology companies and start-ups, but also allows our park companies and incubatees to benefit from their knowledge and expertise, which will accelerate their speed to the market.”

“Tencent’s wide range of experience will provide support at every phase of innovation, from proof of concept to industry sector applications and eventually commercialisation. These collaborations are vital to our mission of bringing together tech enterprises of various scales, global talent, entrepreneurs, academics and visionaries to further strengthen the I&T ecosystem of Hong Kong.” Wong added.

 

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About Tencent

Tencent uses technology to enrich the lives of Internet users. Our social products Weixin and QQ link our users to a rich digital content catalogue including games, video, music and books. Our proprietary targeting technology helps advertisers reach out to hundreds of millions of consumers in China. Our infrastructure services including payment, security, cloud and artificial intelligence create differentiated offerings and support our partners’ business growth. Tencent invests heavily in people and innovation, enabling us to evolve with the Internet.

Tencent was founded in Shenzhen, China, in 1998. Shares of Tencent (00700.HK) are traded on the Main Board of the Stock Exchange of Hong Kong.

About Hong Kong Science and Technology Parks Corporation

Comprising Science Park, InnoCentre and Industrial Estates, Hong Kong Science & Technology Parks Corporation (HKSTP) is a statutory body dedicated to building a vibrant innovation and technology ecosystem to connect stakeholders, nurture technology talents, facilitate collaboration, and catalyse innovations to deliver social and economic benefits to Hong Kong and the region.

Established in May 2001, HKSTP has been driving the development of Hong Kong into a regional hub for innovation and growth in several focused clusters including Electronics, Information & Communications Technology, Green Technology, Biomedical Technology, Materials and Precision Engineering. We enable science and technology companies to nurture ideas, innovate and grow, supported by our R&D facilities, infrastructure, and market-led laboratories and technical centres with professional support services. We also offer value added services and comprehensive incubation programmes for technology start-ups to accelerate their growth.

Technology businesses benefit from our specialised services and infrastructure at Science Park for applied research and product development; enterprises can find creative design support at InnoCentre; while skill- intensive businesses are served by our three industrial estates at Tai Po, Tseung Kwan O and Yuen Long. More information about HKSTP is available at www.hkstp.org.

Media Contact:

Tencent
Alex Lee
Email: alexcclee@tencent.com
Tel: +852 3148 5100 ext 68929

Creation
Charmaine Lee
Email:
clee5@creation.io
Tel: +852 2533 9946

Hong Kong Science and Technology Parks Corporation
Sam Yan
Email:
sam.yan@hkstp.org
Tel: +852 2629 6743

Ogilvy Public Relations
Matthew Liu
E-mail:
matthew.liu@ogilvy.com
Tel: +852 2884 8474

 

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