Financing for Smart City

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Issue #108 (Sep - Oct 2019)
	Cover story Financing for Smart City A smart city refers to a city that uses technology to enhance the quality and performance of urban services, with a view to improve quality of life. These smart technologies will be incorporated in new infrastructures, and financing these projects requires good subject knowledge of the business and revenue models. Several factors make it difficult to finance smart cities projects, a common one being technology risk: the project may be the first to deploy a particular technology, reducing investor confidence in the integration and usability of the technology in the absence of demonstrable proof of concept.
	Thought Leaders A Pillar of the Greater Bay - Redefining through Diversification Dr. Benjamin CHAN, President of the Monetary Authority of Macau (AMCM), shares with Banking Today how the GBA development and the rise of Fintech will “re-define the landscape of Macao’s economy and banking industry in the next decade, bringing along tremendous opportunities and challenges.”
	Fintech The Big Deal with Big Data Big data is getting bigger than ever, as more of our daily lives moves into the digital era, and people and machines generate all kinds of information every second, from online shopping and payments to electricity usage and health habits. The massive increase in output and mining of many types of information is also being accompanied by a jump in big-data focused investments, underscoring the push many companies around the world are making to become more data-driven and data-focused.
	Knowledge Plus Opportunities for New Industries from the Development Plan for the Greater Bay Area Green finance and marine economy provide new opportunities in the Greater Bay Area, bankers having depth expertise for these sectors will be of big help to their clients. The “Outline Development Plan for Guangdong-Hong Kong-Macao Greater Bay Area” stipulates various industrial policies that support the development of industry and commerce. This article provides insight on the green bond policy issued in the Greater Bay Area, Hong Kong and Guangzhou, as centers for issuing green bonds, have a subtle yet essential role difference. The development of the marine economy will also be explained in this article.
	GRC Corner The New Insurance Regime's Impact on Banks and Intermediaries The Hong Kong Insurance Authority has issued the Guideline on Exercising Power to Impose Pecuniary Penalty in Respect of Regulated Persons under the Insurance Ordinance (Cap. 41). The Guideline will come into effect on 23 September 2019, the same date the new statutory regulatory regime for insurance intermediaries comes into operation.The Insurance Authority will take over the direct regulation of insurance intermediaries such as the Insurance Agents Registration Board and Professional Insurance Brokers Association, who will be subject to statutory licensing and conduct requirements set by the Insurance Authority.