Hong Kong Academy of Finance (AoF)

After a day of vibrant exchanges at the 2nd ASEAN+3 Finance Think-tank Network (AFTN) Seminar, participants were treated to a site visit at Cyberport on 15 May, diving into the forefront of artificial intelligence (AI) developments in Hong Kong. The visit began with opening remarks from Mr Edmond Lau, CFO of Cyberport Hong Kong, who highlighted Cyberport's achievements and strategic direction as Hong Kong’s digital tech hub and AI accelerator. Dr Crystal Fok of AI Applications at Cyberport, followed with a comprehensive overview of Cyberport’s AI ecosystems and infrastructure. During the sharing session, representatives from three start-up and scale-up firms in the Cyberport community showcased their innovative solutions. Ms Sophia Jin from BytePlus, Ms Emma Wang from INF HK 无限光年, and Ms Elsie Leung from Dyna.Ai demonstrated how their firms are addressing common challenges in GenAI adoption, enhancing the trustworthiness of GenAI, and streamlining GenAI capabilities as a service. An overarching theme of the session was Hong Kong’s leadership in facilitating the responsible and accessible adoption of GenAI for firms of all sizes. The speakers also highlighted the significant role of women in leading Hong Kong’s GenAI development journey. As the local host of the 2nd AFTN Seminar, the HKIMR is immensely grateful for the warm hospitality and enriching experience extended by Cyberport to the seminar participants during the site visit. #AFTN #ASEANplus3 #GenAI #HKIMR #Cyberport #AMRO

The 2nd ASEAN+3 Finance Think-tank Network (AFTN) Seminar held on 14 May also included insightful research panel sessions. In the first session, Ms Yoke Wang Tok, Senior Economist, International Monetary Fund-Singapore Regional Training Institute; Mr Masagus M. (mha) Ridhwan, Principal Researcher, Bank Indonesia Institute (BINS); and Mr Prashant Pande, Senior Financial Specialist, ASEAN+3 Macroeconomic Research Office, explored how fintech is shaping financial inclusion, driving business innovation among SMEs in Indonesia, and enhancing regional payment connectivity.   In the second session, Mr Ivan Bernardo, Research Associate II, Bangko Sentral ng Pilipinas Research Academy; Mr Jing Lian Suah, Manager, Hong Kong Institute for Monetary and Financial Research (HKIMR); and Ms Yinghua Shi, Senior Research Fellow and Professor, Chinese Academy of Fiscal Science, examined how technological advancements are reshaping trade and investment landscapes and potential policy responses in the region.    In the final session, Ms Jin Sui, Assistant Researcher, Chinese Academy of Fiscal Science; Ms (Aruhan) Rui Shi, Associate Economist, ASEAN+3 Macroeconomic Research Office; and Mr Hung Duy Bui, Associate Dean of Faculty of Economics, Banking Academy of Vietnam, examined how the rising prominence of technological innovation is shaping new understanding of and considerations in fiscal and monetary policies.   Mr Giorgio Valente, Head of the Hong Kong Institute for Monetary and Financial Research (HKIMR), delivered the closing remarks. He reflected on the productive discussions that highlighted the importance of innovation and adaptive policies in ensuring economic stability and growth amid rapid technological changes and global uncertainty. To conclude the Seminar, Mr Valente expressed his gratitude to all participants for their insightful contributions and applauded their willingness to share knowledge and perspectives, which he believes will pave the way for further collaboration among AFTN members.   Following the Seminar, the 4th AFTN Steering Committee Meeting was held on 15 May. Leaders and representatives from the AFTN member institutions discussed future strategic directions and research priorities for the 2026 AFTN Seminar.   The HKIMR looks forward to continued collaboration with all AFTN members to foster innovation and pursue macroeconomic and financial resilience in the ASEAN+3 region. #AFTN #ASEANplus #HKIMR #AMRO

Mr Christopher Hui, Secretary for Financial Services and the Treasury Bureau (FSTB), engaged in an insightful exchange with the 2025 FLP cohort on 22 May 2025. During the interactive session, moderated by Mr Victor Chan, Co-Head of Trading Development at Hong Kong Exchanges and Clearing Limited (HKEX), Mr Hui shared his thoughts on the strategic importance of Hong Kong being able to adapt to the evolving global landscape and to make good use of its unique advantages. He also outlined the government's initiatives aimed at enhancing the city's overall competitiveness, especially in the development and use of the AI in the financial sectors. Mr Hui and the participants exchanged views on a wide range of topics, including the opportunities in and outlook for regions such as the Middle East and #ASEAN, the challenges and prospects associated with the adoption of tokenized assets, and generative AI in finance. Participants also benefited from Mr Hui's sharing of his career journey and invaluable advice on leadership. #AoF #AoFFLP #2025FLPcohort #LeadershipDevelopment #FinancialTalents #Finance #Leader Elizabeth Byun Clarence Chan Kenneth Chan Eileen Cheng Michael Cheng Jonathan Cher Arnold Chow Simmy Ko 高思敏 Bryan Koo Adrian Lam Posit Laohaphan Kelvin Lei Jacky Leung Eric Lin Priscilla Ng Sarah O Lareina Wang 王玥 Neo Wang Benson Wong Melissa Wong Vivien Wong Jessie Zhang

We are thrilled to share that the 2nd ASEAN+3 Finance Think-tank Network (AFTN) Seminar, jointly organised by the ASEAN+3 Macroeconomic Research Office (AMRO) and the Hong Kong Institute for Monetary and Financial Research (HKIMR), was successfully held on 14 May in Hong Kong. During his opening remarks, Mr Kouqing Li, Director of AMRO, highlighted the recent expansion of the AFTN as a significant milestone, bringing together the expertise of 28 member institutions. He emphasised their shared commitment to policy research, knowledge exchange, and intellectual partnership in the ASEAN+3 region. In light of rapid technological changes, Mr Li stressed the imperative to harness technology as a force for good and to minimise any potential disruption. Mr Enoch Fung, CEO of the Hong Kong Academy of Finance (AoF) and Executive Director of the HKIMR, delivered the welcoming remarks. He underscored HKIMR’s dedication to fostering collaboration and knowledge exchange, reinforcing Hong Kong's role as a super-connector and super value adder. He also highlighted Hong Kong’s proactive measures to spearhead innovation and position itself at the forefront of technological transformation. The keynote speeches were delivered by Mr Albert Park, Chief Economist of the Asian Development Bank (ADB), and Mr Bambang Brodjonegoro, Dean of the Asian Development Bank Institute (ADBI). Mr Park addressed the rapid increase in digital connectivity in Asia, the existing gaps in digital preparedness, and offered policy suggestions for regional economies to enable inclusive and sustainable digital transformation. Mr Brodjonegoro discussed the challenges faced by middle-income economies, emphasising that an innovation-driven economy built on technology-based development is crucial to overcoming the middle-income trap. In a fireside chat, Ms Jennifer Tan, Executive Vice President for Strategy Development & Government Affairs, Greater Bay Area, Ant Group, highlighted how technology, especially artificial intelligence (AI), is driving the digital economy in different areas such as financial services and healthcare. She emphasised the importance of having a holistic approach to develop a technology ecosystem, especially for small and medium enterprises (SMEs). Regarding Generative AI adoption, she highlighted the importance of governance, risk management, as well as the integration of AI as the business core. The event drew representatives from various research institutes and fiscal and monetary authorities in the ASEAN+3 region, as well as international organisations and academia. #AFTN #ASEANplus3 #HKIMR #AMRO

On 19 May, the AoF hosted a luncheon in Hong Kong welcoming a delegation of participants of the 2025 Tsinghua PBC School of Finance Global Finance Forum led by the Dean of Tsinghua PBCSF 清华五道口. The delegation comprised Mainland and overseas leaders in the political, business, and academic sectors. At the luncheon, Mr Joseph HL Chan, Under Secretary for Financial Services and the Treasury, and Ms Agnes Chan, BBS, Chairman of the Hong Kong General Chamber of Commerce, delivered speeches on the latest developments and outlook for Hong Kong as an IFC. The delegation also met with senior executives from the Bank of China (Hong Kong), the HKMA, and the Hong Kong Exchanges and Clearing Limited (HKEX) to exchange views on topics of common interest during the visit. #AoF #LeadershipDevelopment #Financial #Finance #Leaders

The Hong Kong Monetary Authority (HKMA) and Hong Kong Academy of Finance (AoF) co-organized a panel session titled “Innovation-Driven Development in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA)” on 17 May at the 2025 Tsinghua PBC School of Finance (Tsinghua PBCSF 清华五道口 ) Global Finance Forum held in Shenzhen. Mr Darryl Chan, Deputy Chief Executive of the HKMA and Deputy Chairman of the AoF, participated in the panel sharing his views on the key principles the #GBA should uphold in the face of #globalisation; as well as what Hong Kong can do to facilitate more Mainland enterprises expanding overseas markets and accessing the global stage.  Mr Enoch Fung, MAoF, CEO of the AoF participated in the Tsinghua PBCSF International Strategic Advisory Council Meeting on the same day. #AoF #LeadershipDevelopment #Financial #Finance #Leaders

In one of our recently published applied research papers, Professor Jie (Jay) Cao and Dr Yaojia (Zoe) Zhang suggest that "emissions trading systems (ETS) implementation can reduce the cost of integrating financially material carbon information, enabling investors to make more accurate expectations about future cash flows and make better-informed trading decisions. Consequently, market prices reflect more earnings information". Find out more about the study here: https://lnkd.in/gHR7WdvW #HKIMR #AppliedResearch #CarbonEmissions #EmissionsTrading

The Hong Kong Institute for Monetary and Financial Research (HKIMR) has released a new video featuring market experts discussing the future of Hong Kong's financial services industry in the era of Generative AI, based on HKIMR’s recent report “Financial Services in the Era of Generative AI: Facilitating Responsible Adoption.” In this video, Chris Barford (EY Hong Kong Financial Services Consulting AI & Data Lead), Lareina Wang 王玥 (2025 Hong Kong Academy of Finance (AoF) Financial Leaders Programme Cohort, Chair of FinTech Association of Hong Kong, Head of SME Banking at DBS Bank) and Victor Yim (Head of Fintech at Cyberport Hong Kong) share their views on the best practices for GenA.I. adoption in financial services and on the collaboration among industry stakeholders, regulators, and developers to ensure a successful transition to GenA.I.-driven solutions. Watch the video below. Read the report here: https://lnkd.in/gkBAzNBT #HKIMR #AoF #Cyberport #FTAHK #GenAI #GenerativeAI #AI #FinTech #FinancialServices

The Hong Kong Institute for Monetary and Financial Research (HKIMR) has released a new video discussing their recent applied research report titled “Financial Services in the Era of Generative AI (GenA.I.): Facilitating Responsible Adoption.” In this video, Enoch Fung, CEO of the AoF and Executive Director of the HKIMR, Giorgio Valente, Head of the HKIMR, and Jing Lian Suah, Manager of the HKIMR explore the motivations behind the research, the implications of GenA.I.’s for the financial services industry, and key adoption trends and considerations for fostering responsible adoption and development of GenA.I. in Hong Kong. Watch the video below to gain valuable insights into this important topic. Read the report here: https://lnkd.in/gkBAzNBT #HKIMR #AoF #GenAI #GenerativeAI #AI #FinTech #FinancialServices

The Hong Kong Academy of Finance (AoF) and Hong Kong Institute for Monetary and Financial Research (HKIMR) jointly hosted an industry event on “Financial services in the era of GenAI: Facilitating responsible adoption”, following the publication of the Institute’s latest research report of the same title. This event took place on 8 May 2025, in collaboration with EY and attracted around 30 participants from the financial services and technology industries. Opening remarks were delivered by Ms Jasmine SY Lee, Managing Partner of EY, and Mr Enoch Fung, CEO of the AoF and Executive Director of the HKIMR. HKIMR and EY researchers subsequently delivered a joint seminar on the key findings of the report. Dr Giorgio Valente, Head of the HKIMR, discussed the motivation for the study, as well as a panoramic overview of key issues and regulatory themes on responsible GenAI adoption. Chris Barford and Bosco (Kim) Mo, Partner and Director at EY, respectively, presented key findings from the report based on the survey and interview data, offering insights into GenAI adoption trends, risk management and talent development. Jing Lian Suah, manager at the HKIMR, then discussed short- and medium term considerations to further facilitate responsible GenAI adoption and development in the Hong Kong’s financial services industry. Mr Chris Barford, Partner at EY, then moderated a panel discussion with Mr Edgar Gehringer, COO of HSBC Asset Management, Mr David Ng, Deputy CEO of AXA, and Mr Bosco Fung, Head of Financial and Telecom Sectors, Alibaba Cloud. The panel featured an insightful exchange of ideas and perspectives, covering various success stories and approaches of GenAI implementation in the financial services industry, talent needs and strategy, as well as continued engagement between regulators, industry and developers to facilitate responsible adoption in Hong Kong. Overall, key takeaway messages from the discussion highlighted them importance of a close collaboration among stakeholders and adaptive and forward-looking talent strategies for the healthy development and adoption of GenAI in the financial services industry. Find out more in our full report below. Report on GenAI here: https://lnkd.in/gDfHsuji #HKMA #HKIMR #AoF #GenAI #EY