HK FinTech Buzz Index

HK FinTech Buzz Index 2020Q3

Hong Kong FinTech Buzz Index (FBI) is a quarterly index which represents a quantified sentiment of the local FinTech-related news articles in local Chinese news media.

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According to the 1,299 news articles analysed in the past three months, Hong Kong FBI for the third quarter (Q3) of 2020 falls to a historic low of 93.5, a sharp decline of 8.1 index points (or 7.97%) from the second quarter. Year-on-year (YoY) change drops by 10.9 index points (or 10.4%), continuing a downward trend from the peak in 2019Q2.

The economic downturn continues due to the ongoing COVID-19 pandemic as well as the US-China trade war. Of the 6 sectors, the sub-index of Blockchain & Cryptocurrency recorded the largest decrease of 31.2 index points (or 31.5%) because of massive cryptocurrency scams in August, duping investors of more than $4.5 million. One of the cryptocurrency scams involving the vulnerability in Bitcoin ATMs also seriously affected the RegTech & Cybersecurity sub-index. The announcement with more details on the Greater Bay Area Cross-boundary Wealth Management Connect Pilot Scheme resulted in a moderate increase in the sub-indices of Wealth Technology and Credit Technology (WealthTech & CreditTech) and Supporters & Other Related Business, despite the economic downturn.

FinTech Buzz Index over six sectors

InsurTech

2019 Q4

98.9

2020 Q1

101.5

2020 Q2

104.2

2020 Q3

100.8

Wealthtech & credit tech

2019 Q4

100.8

2020 Q1

101.1

2020 Q2

103.1

2020 Q3

107.4

Blockchain & cryptocurrency

2019 Q4

103.7

2020 Q1

102.6

2020 Q2

99.1

2020 Q3

67.9

Payment &

digital banking

2019 Q4

106.4

2020 Q1

104.0

2020 Q2

102.9

2020 Q3

102.7

Regtech & cybersecurity

2019 Q4

79.9

2020 Q1

94.1

2020 Q2

98.6

2020 Q3

80.7

other related businesses

2019 Q4

104.1

2020 Q1

101.9

2020 Q2

100.6

2020 Q3

105.4

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