Press Release

Four strategic pillars to drive banking growth: Internationalisation, Interconnectivity, Innovation, and Inclusion

(11 September 2026) - The Hong Kong Association of Banks (HKAB) and Deloitte China today jointly released the Hong Kong Banking 2030 report, providing a comprehensive analysis of the strategic opportunities shaping the banking industry through the end of the decade. Drawing on a survey of HKAB member banks, the report explores the industry's trajectory through six core themes: Hong Kong's distinctive advantages, industry opportunities, digital innovation, financial inclusion and customer trust, risk and resilience, and future‑ready banking organisations.

With the National 15th Five‑Year Plan supporting Hong Kong in consolidating and enhancing its status as an international financial centre, and strengthening Hong Kong's functions as a global offshore RMB business hub and an international asset and wealth management centre, the HKSAR Government is advancing equity and bond market development, expanding wealth management channels, and accelerating sustainable finance. Together, these measures strengthen the city's core advantages in free capital flows, deep and liquid markets, a common law framework, and the world's largest offshore RMB clearing infrastructure, while creating regulatory and market conditions for new growth in digital finance and family offices.

Stephen Chan, Acting Chairman of the HKAB, and Deputy Chief Executive of Bank of China (Hong Kong), says, "Hong Kong Banking 2030 is the banking industry's first comprehensive report, jointly published by HKAB and Deloitte, bringing together the collective insights of our members to set out a shared vision for the industry's future. The report identifies four strategic pillars for growth: internationalisation, which strengthens Hong Kong's role as a gateway between the Chinese Mainland and global markets, supporting enterprises' global expansion, the international use of RMB and wealth management growth; interconnectivity, which promotes the flow of capital, talent and information through deeper Chinese Mainland-Hong Kong integration; innovation, which leverages AI and digital asset infrastructure to drive financial innovation; and inclusion, which expands financial access and strengthens support for the real economy. Working closely with the HKSAR Government and regulators, the banking industry will advance these priorities and further strengthen and consolidate Hong Kong's position as a leading international financial centre by 2030."

The report reveals 99% of surveyed banks are positive about the future of Hong Kong's banking sector. Respondents across every institution type describe Hong Kong's position as durable, built on its deep ties to the Chinese Mainland, robust infrastructure, and market depth that no other centre has replicated, and one they expect to grow further over time. This positive sentiment is also reflected in investment priorities, with 53% citing generative AI and process automation as their top investment area within technology, signalling a clear move from pilot and experimentation toward production.

As Chinese Mainland enterprises pursue international expansion, Hong Kong banks are increasingly following clients abroad, creating corridor-based demand for trade finance, syndicated lending, treasury services, and hedging products that respondents expect to deepen. At the same time, banks are actively advancing cross-border RMB services, underscoring a sector that is broadening its growth models.

David Wu, Hong Kong Financial Services Industry Leader of Deloitte China, says, "We are delighted to collaborate with HKAB on Hong Kong Banking 2030, a joint effort that reflects the collective insights of the banking community in shaping our city's financial future. As Hong Kong deepens its role in global finance, cross-sector collaboration among institutions and policymakers will be critical to scaling innovation, strengthening resilience, and building trust with customers. Building on Deloitte's recent Asia Pacific paper – 'From growth to advantage; Competing for the future of financial services in Asia Pacific', we have further deepened our insights into how Hong Kong financial institutions can accelerate digital transformation, navigate regulatory changes, and capture new opportunities across the region. Hong Kong remains at the heart of that agenda, and we look forward to working with the industry to turn this vision into reality." 

Wealth management is the growth opportunity cited most consistently across all institution types in the survey, driven by inter-generational wealth transfer throughout Asia, a rapidly expanding family office ecosystem, and increasing demand from Chinese Mainland investors seeking international diversification. The report also highlights cyber resilience as a growing concern, cited by 36% of respondents as their most pressing challenge. In response, a quarter of surveyed banks name cybersecurity as their top technology investment priority for AI-driven threat detection, automated incident response, and predictive defence.

According to the report, financial inclusion is being designed into growth in the digital era, with banks embedding accessibility into product, channel, and risk design to cover the full customer journey, from account opening and everyday payments to complaint handling and fraud protection. However, 52% of respondents identify leading digital transformation as their defining leadership challenge, reflecting the difficulty of building organisations capable of delivering on these ambitions. More consistently than any other theme in the survey, banks identify internal capability as the binding constraint, encompassing talent, culture, and operating model.

Natalie Chan, Hong Kong Banking 2030 Programme Leader of Deloitte China, says, "What stands out from this study is the banking industry's confidence in its growth outlook. Banks that differ in scale, ownership and market focus have reached an aligned view of where the opportunities are and what it will take to capture them. That alignment matters because the future of banking will be defined by collective action and shared progress on market connectivity, digital infrastructure and customer trust. Ultimately, executing these ambitions depends on an organization's internal capability. While the strategies are well defined, equally important is ensuring organizational readiness to deliver them. More than a report, Hong Kong Banking 2030 is a call to action: to collaborate, to innovate, and to shape the future of banking together."

Hong Kong Banking 2030 outlines 37 recommendations for the industry's next phase of development, based on four strategic priorities:

1. Internationalisation: Key recommendations include strengthening Hong Kong as a global offshore RMB hub through faster payments, broader product ranges, and expanded clearing infrastructure; expanding the international use of RMB in Belt and Road Initiative projects and emerging markets; reinforcing Hong Kong's position as the preferred cross-border wealth platform; and elevating Hong Kong's position as a global commodity trading hub through strategic ecosystem development.
   
   
2. Interconnectivity: To deepen financial linkages with the Chinese Mainland, the report suggests expanding Stock Connect to include New Shares Connect, enabling Chinese Mainland investors to participate in Hong Kong IPOs and accelerating the RMB-denominated trading counter. It also recommends clarifying sales and promotion activities under Wealth Management Connect, while enabling coordinated client coverage with consolidated portfolio visibility across booking centres, and promoting Greater Bay Area professional qualification mutual recognition.                                                                                                                                                                        
3. Innovation: As AI and emerging technologies reshape banking, priorities include expediting the development of sector-specific AI application guidelines for banking industry and investing in quantum computing infrastructure. The report also suggests establishing common response protocols for fraud and cyber incidents, expanding cross-institution threat intelligence sharing and joint cyber exercises, unlocking "golden source" government data, and developing public-private digital infrastructure spanning banks, fintechs, regulators and telecommunications operators.                                                                                                                                                                          
4. Inclusion: The report highlights advancing financial inclusion and customer access by enhancing accessibility and user-centred design across the full customer journey; promoting inclusive solutions across digital banking platforms for diverse user groups such as senior citizens; strengthening digital and financial confidence through education, fraud protection and safeguards; and building responsible product access for emerging investment categories.

Click here to view the full report.

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Photo Captions

(From left to right) David Wu, Hong Kong Financial Services Industry Leader of Deloitte China; Stephen Chan, Acting Chairman of the HKAB, and Deputy Chief Executive of Bank of China (Hong Kong); and Natalie Chan, Hong Kong Banking 2030 Programme Leader of Deloitte China, at the media launch of the Hong Kong Banking 2030 report.