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.

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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