INTHEBLACK October 2021 - Magazine - Page 11
“The combined effect of the globalisation and the
digitalisation of our economies has caused distortions
and inequities, which can only be effectively addressed
through a multilaterally agreed solution. There is
important work left to do.”
M AT H I AS C O R M A N N ,
S E C R E TA RY- G E N E R A L O F
T H E O R G A N I S AT I O N F O R
E C O N O M I C C O - O P E R AT I O N
AND DEVELOPMENT
Source: OECD
A$1.8
trillion
THE PROJECTED INVESTMENT
IN ASIA-PACIFIC
RENEWABLES (WIND AND
SOLAR) OVER THE CURRENT
DECADE TO 2030. THAT’S A
DOUBLING OF INVESTMENT
COMPARED TO THE PREVIOUS
DECADE (2011-2020).
OPEN VIDEO IN A NEW WINDOW
Source: Wood Mackenzie
H ONG KON G
FOCU SES ON FIN T ECH
THE HONG KONG MONETARY
AUTHORITY (HKMA) HAS STEPPED
UP ITS PROMOTION OF FINTECH
ADOPTION BY LOCAL BANKS WITH
THE RELEASE OF ITS FINTECH
2025 STRATEGY REPORT.
The strategy has five key areas of
focus, including encouraging all banks
to fully digitalise their operations
from front-end to back-end by 2025;
preparing for central bank digital
currencies at both wholesale and retail
levels; creating the next-generation
data infrastructure; expanding
a fintech-savvy workforce; and
supporting the fintech ecosystem
with funding and policies.
In outlining the new strategy, Eddie
Yue, CEO of the HKMA, describes
fintech as a “key growth engine” for
the financial industry in the postpandemic era.
“Now is the right time to double
down on our efforts to grasp the
opportunities,” he says.
READ THE REPORT HERE
intheblack.com October 2021 11