Financial Secretary Paul Chan on Thursday said Hong Kong is the most preferred platform for mainland enterprises to expand their business overseas, as Tencent-backed digital lender WeBank opened a Hong Kong headquarters for its new tech arm.

Speaking at the inauguration and signing ceremony for WeBank Technology, Chan said the city's financial technology ecosystem has seen positive growth in recent years, with the number of firms in the sector growing 15 percent year-on-year to 1,100 in 2024, including eight digital banks and four digital insurance companies.

"Under One Country, Two Systems, Hong Kong has the unique advantage to connect the mainland with the world, and is also the most preferred platform for mainland enterprises to go overseas," he said.

"As we have a full chain of financing and professional services, this could support WeBank Technology to export its advanced tech and explore business expansion in the international market, especially, to provide more inclusive financial services to countries in the Global South to support local social and economic development."

Shenzhen vice-mayor Luo Huanghao, who also attended the event, said the mainland's tech hub will collaborate with Hong Kong to further promote the application of the digital yuan through more trials.

WeBank president Li Nanqing said the opening of the new headquarters in Hong Kong can help the company expand along Belt and Road countries and boost economic integration between Hong Kong and Shenzhen.

WeBank gained regulatory approval to set up its fintech subsidiary in Hong Kong last July and plans to invest up to US$150 million and create high-skilled jobs in the SAR.