BIS Plans Innovation Hub in Hong Kong

Oct 3, 2019Updated May 26, 20251 min read

The Bank of International Settlements has signed an operational agreement with the Hong Kong Monetary Authority to establish an innovation center in the special administrative region.

The hub will identify and develop insights about technology affecting central banking; develop «public goods» in technology to improve the global financial system, and serve as a focal point for central banking innovation, according to a news release.

The HKMA is a global leader in promoting innovation, and Hong Kong is home to a vibrant fintech ecosystem,» said BIS GM, Agustín Carstens. «The HKMA’s involvement will be a key driver of the Hub’s success.

In addition to Hong Kong, hub centers will also be set up in Singapore and Basel, Switzerland in the initial phase.

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Mei Ling Tan

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Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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