Chief Executive John Lee on Monday hailed the "cheering" growth in the city's financial technology (fintech) sector, which by some metrics is ranked top in the world, with revenues from the sector expected to hit US$600 billion by 2032.

He made the remarks as he delivered an opening speech at the annual Hong Kong FinTech Week, where some 37,000 executives from 100 economies are gathered for the event's largest edition on its 10th anniversary.

Speaking at the event, Lee noted the city's unique role as a gateway linking the mainland and global markets, something that is "well recognised by the world".

"In September, Hong Kong placed third, overall, and tops in Asia, in the Global Financial Centres Index. The Index also named Hong Kong's fintech hub number one, globally," he told event participants.

"Not surprising, given that Hong Kong is now home to more than 1,200 fintech companies, up 10 percent from last year. Given, too, that our fintech sector is expected to exceed US$600 billion in total revenue by 2032, with a cheering growth rate exceeding 28 percent a year," he added.

To further boost the sector, Lee said Hong Kong would deepen and expand its equity and bond currency markets, while enhancing preferential tax regimes to woo global funds and family offices.

The Capital Investment Entrant Scheme would also be relaxed to attract more investments in the SAR.

Lee noted the city had risen to third place in the world in terms of foreign direct investment inflows this year, as reported by the United Nations Conference on Trade and Development, following a fundraising market boom.

"In equities, we will support technology companies from the mainland in fundraising, encourage overseas enterprises to pursue secondary listings here, and welcome the return of China Concept Stock companies from overseas markets, with Hong Kong as their preferred destination," he said.

"We are [also] committed to enhancing bond market infrastructure, establishing connections with overseas markets such as Switzerland and the United Arab Emirates," he said.

Separately, Lu Lei, deputy governor of the People's Bank of China (PBoC), said officials are exploring the use of digital reminbi for cross-border transactions, after collaboration with counterparts in Hong Kong, to enhance rapid payment systems between the two places, drew "positive responses".

"China is one of the first countries to initiate research and pilot applications for legal digital currency, and has accumulated rich experience," he said.

"We are actively collaborating with various parties to explore open, inclusive, and innovative cross-border payment solutions to support the high-quality development of the digital economy," he added.

Since its launch in June, the cross-border rapid payment system, Payment Connect, that links the mainland's Internet Banking Payment System and Hong Kong's Faster Payment System, has been operating smoothly, Lu noted.

The PBoC deputy chief also said authorities on the mainland have been working on setting up more convenient QR code payment systems across the Greater Bay Area.