Paul Chan: Hong Kong plans to launch a digital corporate identity platform by the end of the year.

Hong Kong Financial Secretary Paul Chan Mo-po, speaking at the Asian Infrastructure Investment Bank (AIIB) Board of Governors 2026 Annual Meeting in Doha, Qatar, said Hong Kong is committed to strengthening connectivity and accessibility of public and private services. The mobile digital identity platform "iAM Smart" allows citizens to use tax filing, health record access and other services with a single identity, and now supports more than 1,400 online services provided by the government and public and private organizations. The Hong Kong government will continue to expand the platform's services and plans to launch a "digital corporate identity" platform by the end of this year, extending services to enterprises. He said that in addition to connecting people with opportunities, digital connectivity can also help citizens access services conveniently and help enterprises expand markets and obtain financing. Digital public infrastructure can connect identity, financial and other data on the same shared platform and facilitate payments, reducing the need for citizens and enterprises to repeatedly submit data and enhancing service efficiency and inclusiveness. Paul Chan Mo-po said that advancing digital services cannot focus only on technical compatibility; it is also necessary to build consensus early among government departments and enterprises, establish common standards, design services based on user needs, and coordinate implementation timetables. On financial infrastructure, he noted that Faster Payment System (FPS) connects banks and e-wallets, providing round-the-clock real-time transfer services, with average daily transaction volume reaching US$2 billion at the end of last year, and has supported cross-border payments by connecting with Thailand's PromptPay. The number of stored value payment instrument accounts in Hong Kong exceeds 90 million, an increase of nearly 50% compared with 2022. The Hong Kong Monetary Authority's "Commercial Data Interchange" securely connects banks and commercial data providers with customer consent, helping banks assess the creditworthiness of SMEs; as of June this year, more than 100,000 loan applications had been completed using the platform, involving a total of more than US$11 billion. The "CargoX" project also helps banks verify transactions and provide trade financing by obtaining freight and trade data more quickly. Paul Chan Mo-po said artificial intelligence can enhance productivity and the quality of public services. The Hong Kong government is promoting AI application and process re-engineering through the AI Efficiency Enhancement Group, and is developing a data facility cluster in Sha Ling in the Northern Metropolis that takes into account energy efficiency and lower carbon emissions. The Hong Kong government has launched an AI subsidy scheme to support eligible research institutions, startups and commercial organizations, and has also set up an AI sandbox in the financial sector covering banking, securities, wealth management, insurance and retirement protection. He emphasized that the development of AI and data sharing must be based on cybersecurity, privacy protection and effective risk governance. Hong Kong's critical infrastructure protection legislation took effect in January this year, and the "Authorized Data Exchange Gateway" has facilitated more than 62 million data exchanges to date. The Hong Kong government will also formulate AI guidelines and governance frameworks for different sectors, and review whether existing legislation can properly handle liability issues arising from AI-related harm, so that society can share the opportunities brought by digital innovation under safety and trust.