WeBank sets up headquarters in Hong Kong for R&D activities  

WeBank Co, Ltd (WeBank), a world leading digital bank founded in Shenzhen, has established its technology company headquarters in Hong Kong earlier this week.

As per an announcement from the HKSAR, WeBank intends to invest up to USD150 million and generate high-skilled technology positions within the city.

Collaboration between the Financial Services and the Treasury Bureau (FSTB) and Invest Hong Kong (InvestHK) has been instrumental in aiding WeBank in establishing its technology company headquarters in Hong Kong.
The director-general of InvestHK, Alpha Lau, said, “The establishment of WeBank’s operation in Hong Kong has been the result of extensive co-ordination between the FSTB and InvestHK to ensure that the company is well positioned for success upon commencing its activities in our city.”

For Lau, the opening of international research and development (R&D) centers and headquarters in Hong Kong by numerous strategic enterprises indicates the city’s clear advantages in facilitating globally scaled companies to realize their ambitions.
Meanwhile, president of WeBank, Li Nanqing, said, “Hong Kong has emerged as a center of excellence in global business connectivity and financial technology innovation. It offers us an ideal environment to advance our innovation and expand our international footprint. We are excited to contribute to and benefit from the city’s dynamic fintech ecosystem, robust infrastructure, and strategic connectivity.”

WeBank’s technology company headquarters in Hong Kong will act as a hub for its research and development endeavors and offer technology solutions for global markets. Hong Kong, as a significant player, contributor, and beneficiary in the Belt and Road Initiative, was selected by the bank due to its ambitious outlook and willingness to adopt cutting-edge technologies and cultivate a thriving fintech ecosystem, in addition to its established international financial services sector.
WeBank is well known for bringing inclusive financial services to over 4.5 million micro, small, and medium-sized enterprises, and nearly 400 million individuals in mainland China.

This year, WeBank was acknowledged by the International Data Corporation as the standard for worldwide digital banking advancement, showcasing its top-tier fintech innovation in essential and advanced technologies like artificial intelligence, blockchain, cloud computing, and big data.

As at today, WeBank has filed over 3, 800 patent applications.