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Golden Finance reports that Paul Chan Mo-po, the Financial Secretary of Hong Kong, has stated that in recent years, Hong Kong has vigorously promoted the development of financial technology to encourage financial innovation, allowing residents to enjoy a more diverse range of products and services. For example, since the introduction of virtual banking licenses four years ago, competition has driven traditional banks to take bigger steps toward digital transformation, expanding their service coverage, offering more competitive fees, and making financial services more inclusive. Some virtual banks have even achieved significant growth in the Southeast Asian market. |
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