HSBC and Hong Kong Science and Technology Parks (HKSTP) will work together to drive fintech development, supporting the city’s aspiration of creating a digital economy and becoming an international hub for such technology.

HSBC and HKSTP signed a three-year agreement to leverage their resources, expertise and networks to foster collaboration.

The partnership is the first “public-private cooperation between the city’s largest innovation and technology ecosystem and leading global bank”, the companies said.

Under the partnership, HSBC and HKSTP will build an “international fintech corridor” that will see collaboration between Hong Kong fintech firms and global partners and attract companies to set up in the city.

Other focus areas include offering investment opportunities and financial services to fintech companies.

HSBC will provide finance and investment opportunities to at least 50 fintech companies nominated by HKSTP. The bank will also offer customised financial services such as payment, lending, foreign exchange, cash management and trade finance support to fintech firms in the HKSTP ecosystem.

The partner of Fintech section is