Davos Focus | AMTD and Hong Kong Polytechnic University co-signed an agreement of strategic cooperation to further the research and development, training and knowledge exchange in the field of FinTech

On January 24, during the World Economic Forum annual event at Davos, AMTD Group and the Hong Kong Polytechnic University signed strategic collaboration agreement at AMTD Corporate Center in Davos. Two parties will leverage their network and channel in academic and industry fields, utilize their strengths and share their resources, to promote the development of AMTD Fintech Centre of PolyU Faculty of Business and the innovation of Hong Kong technology, especially Fintech. After signing comprehensive strategic cooperation MOU at the 80th anniversary of the Hong Kong Polytechnic University in December 2017, AMTD and PolyU have rapidly promoted the project in one month and further enhanced the cooperation to cover academic exchanges, university – industry cooperation, talent incubation and professional training, etc.

Prof. Timothy Tong, President of the Hong Kong Polytechnic University and Prof. Edwin Cheng, Dean of Faculty of Business of the Hong Kong Polytechnic University visited AMTD Corporate Center accompanied by Mr. Calvin Choi, Chairman of the Board and President of AMTD and learned about the investments and accomplishments AMTD made in Fintech. Two parties held a bilateral meeting on comprehensive cooperation in Fintech. After in-depth discussion, AMTD and PolyU reached a consensus on a series of cooperation and signed strategic collaboration agreement.

“As a financial institution well acquainted with local cultures while maintaining a global vision, AMTD Group is dedicated to promoting the long-term development of fintech in Hong Kong and also the incubation of young innovative talents,” said Mr. Calvin Choi, Chairman of the Board and President of AMTD, “One month ago, AMTD was delighted to sign a strategic cooperation MOU with the Hong Kong Polytechnic University and jointly established AMTD Fintech Center of PolyU Faculty of Business. In just one month, two parties closely cooperated, rapidly implemented the project and achieved good results. Today two parties signed officially the strategic collaboration agreement and enhanced the cooperation to cover academic exchange, university–industry cooperation, talent incubation and professional training, etc. AMTD Fintech Center of PolyU Faculty of Business is believed to make great contribution to Hong Kong fintech market under the cooperation.”

Prof. Timothy Tong, President of the Hong Kong Polytechnic University thanked AMTD Group for the continuous support. He said, the Hong Kong Polytechnic University adhered to its motto, “to learn and to apply, for the benefit of mankind”, focused on scientific research and development of education while applying the knowledge into practice for the benefit of the country and people. Hong Kong was concentrating on the development of fintech and AMTD, as a leading financial institution in Hong Kong, was developing rapidly in fintech and had achieved great accomplishments. The Hong Kong Polytechnic University was more than pleased to seize the opportunity of the generation, collaborate with AMTD in Fintech, lay a solid foundation for the long term development of fintech in Hong Kong and cultivate talents.

Prof. Timothy Tong, President of the Hong Kong Polytechnic University and Mr. Calvin Choi, Chairman of the Board and President of AMTD signed Strategic Collaboration Agreement together. Prof. Edwin Cheng, Dean of Faculty of Business of the Hong Kong Polytechnic University, Mr. Marcellus Wong, Vice Chairman of the Board of AMTD, Mr. Raymond Yung, Vice President of Global Advisory Committee of AMTD and Mr. Y.K. Sin, Chief of Staff of AMTD also attended the signing ceremony.

AMTD Fintech Centre of PolyU Faculty of Business was established by AMTD Group, AMTD Foundation and the Hong Kong Polytechnic University, with the aim of promoting the development of fintech research in Hong Kong, and also the incubation and training of innovative talents. AMTD and PolyU will provide support and plentiful resource for the Centre in the aspect of finance industry and academics respectively, and will jointly take charge of operation, education and training of the Centre to be the initiator and promoter of Hong Kong fintech center, promoting learning – practice combination and the development of fintech in Hong Kong.

What’s more, AMTD FinTech Centre will also act as a pioneer in innovative scientific research in Hong Kong, heading north and communicating with peers, running schools and promoting research development. The Centre will set up branches or bases in mainland China, develop academic exchanges program, university-industry cooperation and courses with mainland institutions, supporting training, research and industrialization of the Greater Bay Area and even the entire China.

AMTD has always focused on power of technology and innovation, and is determined to be a “super-connector” between global leading FinTech companies, internet technology companies and Asia capital market. Except for the Fintech Center co-established with PolyU, in the past 2 years, AMTD has hosted multiple large conferences and events about FinTech to boost the development and innovation in this field. AMTD hosted 2017 Singapore Fintech Festival, the world’s largest fintech festival, together with the Monetary Authority of Singapore in November 2017, the “AMTD – Lendit Global FinTech Investment Summit” with Lendit, the world’s largest FinTech conference operator, and FinTALKS CEO Summit in Hong Kong, Taipei and Singapore with a series of financial institutions such as FinEx Asia, UOB and Dianrong.

AMTD has also been well positioned for investment in fintech area. Previously, AMTD and Standard Chartered Bank made strategic investment in Dianrong.com, a FinTech company established by Soul Htite, co-founder of the famous Lending Club. AMTD then introduced GIC as a new strategic investor and established FinEX Asia, a FinTech platform with Dianrong in Hong Kong. AMTD also invested in Appier, a world-leading Artificial Intelligence technology company nominated as one of “50 companies leading the AI revolution” by Fortune with Singapore Economics Development Board, Softbank and Line.

AMTD successfully assisted Meitu, the leading Internet company in China, on its IPO on the Hong Kong Stock Exchange (“HKEX”), which became one of the largest IPO of technology companies on the HKEX in the past decade and caused a "tech fever" in Hong Kong capital markets.

Moreover, AMTD's technology innovation portfolio also includes China's leading online travel platform - UCAR, China's leading second-hand car online trading platform - Youche.com, a featured student loan platform - Credible Labs which successfully went public in Australia recently, and a U.S. Internet education services company - Peachjar.