Hong Kong needs actual fintech, not just IPOs
HONG KONG For mainland Chinese, a visit to Hong Kong feels like a voyage back in time. At home they spend weeks without a visiting an ATM or a bank. They use mobile wallets to pay for meals, bills and cabs, or even donate to beggars; they invest their unused balance in money-market funds, still using their smartphone. But when they cross the border into the special administrative region, they leave such conveniences behind.