ICBC Asia's new competition gives Hong Kong students a chance to test their fintech ideas beyond the classroom.
Updated
October 2, 2026 9:16 AM

Main Building of the University of Hong Kong. PHOTO: ADOBE STOCK
Hong Kong university students are being invited to take part in the first Hong Kong University Students Fintech Innovation Competition, organised by Industrial and Commercial Bank of China (Asia). The competition gives students a chance to develop ideas around financial technology, with cash prizes, internship opportunities and a route to the national finals of the ICBC Cup on offer.
The competition is part of the 17th ICBC Cup and marks the first time ICBC has established a competition zone in Hong Kong. It is supported by the Financial Services and the Treasury Bureau and the Hong Kong Monetary Authority, with 12 Hong Kong universities also backing the initiative.
The participating universities are the University of Hong Kong, the Chinese University of Hong Kong, Hong Kong University of Science and Technology, Hong Kong Polytechnic University, City University of Hong Kong, Hong Kong Baptist University, Hong Kong Metropolitan University, Lingnan University, Hong Kong Shue Yan University, the Education University of Hong Kong, Hang Seng University of Hong Kong and St. Francis University.
For ICBC Asia, the competition is also intended to support the development of fintech in Hong Kong and expand the city's fintech talent pool. Dr. Liu Yagan, Chairman and Executive Director of Industrial and Commercial Bank of China (Asia), said the competition is designed to encourage students to develop practical applications for financial technology and explore new banking business models.
"This competition encourages university students across Hong Kong to propose practical solutions for fintech applications and banking business model innovation from the perspective of financial products and services, providing a platform for Hong Kong youth to connect with cutting-edge industries and unleash their innovative potential."
The initiative will also connect Hong Kong students with the wider ICBC Group. Liu said this would help deepen exchanges between young talent in Hong Kong and the Mainland.
The competition is open to full-time university students in Hong Kong and carries the theme "Digital Banking, Creating the Future." Students can develop ideas across 10 areas, ranging from fintech and digital finance to green finance, inclusive finance, pension finance and wealth management. The categories also include financial security services, specialised financial services, youth services and open innovation services.
The competition also offers cash prizes: the First Prize winner will receive HK$50,000; two Second Prize winners will receive HK$30,000 each; three Third Prize winners will receive HK$20,000 each; and four Honorable Mention recipients will receive HK$10,000 each.
Beyond the prize money, qualifying winners will have the opportunity to undertake internships at ICBC (Asia). The team that wins the Hong Kong First Prize will also have the opportunity to travel to Beijing in December for the ICBC Cup national finals, where it will compete against teams from across the country.
With registration now open, the competition gives Hong Kong university students an opportunity to take ideas in financial technology from the classroom into areas such as banking products, services and business models.
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Mainland giants accelerate expansion as local players face unprecedented competition.
Updated
January 8, 2026 6:34 PM

HKTV Mall in Amoy Plaza. PHOTO: WIKIPEDIA USER -WPCPEY
Hong Kong is entering a new phase of competition as mainland platforms accelerate their expansion into the city, turning it into a frontline testing ground for Chinese companies preparing to push into global markets. With retail, logistics and food-delivery businesses all reshaped in the past year, Hong Kong has become the closest international environment where mainland firms can experiment with pricing, supply chains and customer behaviour under a familiar regulatory and cultural framework.
The shift became especially clear this week. At HKTVmall’s Vision Day on November 11, 2025, CEO Ricky Wong warned that Hong Kong’s traditional retail model is facing its toughest moment yet. He said the biggest threat is not mainland competitors like Taobao, JD.com or Pinduoduo entering Hong Kong, but the city’s longstanding dependence on physical shopping. If local retailers do not evolve, he said, they risk becoming “very easy to die of thirst in the desert”. Wong even welcomed the rise of mainland e-commerce giants, arguing that the more players enter the city, the faster consumers will shift online — a transition HKTVmall relies on for growth.
Yet his optimism is layered over a challenging reality. HKTVmall’s own numbers reflect pressure from competition and changing consumer habits. The company reported average daily GMV of HK$22.2 million during the latest shopping festival season — up 2.8% month-on-month but still down 4.3% compared year-on-year — showing that even established online platforms are struggling to maintain momentum as mainland entrants squeeze prices and widen product selection.
The city’s food-delivery market illustrates the shift even more sharply. Deliveroo, once the fastest-growing platform in Hong Kong and at one point holding more than half of the market, officially shut down in April this year after a long decline. Its trajectory mirrored the sector’s upheaval: the company surged during the pandemic but lost ground after restrictions eased, first overtaken by Foodpanda and then pressured heavily by Meituan-backed Keeta, which entered Hong Kong in 2023 and quickly seized about 30% of citywide orders.
Deliveroo’s exit and the handover of parts of its business to Foodpanda did little to stabilise the market. Keeta’s rapid expansion instead pushed Foodpanda onto the defensive, leaving two major players competing in a market shaped by mainland-style pricing and operations. Hong Kong’s delivery sector, once dominated by global firms, is increasingly defined by Chinese platforms optimizing speed and efficiency at a scale few competitors can match.
These changes are unfolding as Chinese companies shift their focus toward new global markets.
With China reducing its reliance on the US and EU and exports steadily moving toward ASEAN, Hong Kong has become a strategic launchpad. The city’s proximity, language familiarity and regulatory structure make it the nearest international setting where Chinese firms can test overseas strategies before expanding into Southeast Asia, the Middle East or Latin America. The result is a competitive intensity that local companies have rarely experienced. Retailers face price pressure they can’t match, local platforms are losing ground to mainland giants and global players are struggling to stay in the game.
Consumers benefit from lower prices, faster delivery and wider choice — but for Hong Kong businesses, the landscape has turned unforgiving. Mainland companies are not treating Hong Kong as a final destination but as the first stop in a broader global push. That positioning is reshaping the city’s entire consumer economy. As more mainland firms look outward, Hong Kong’s role as a testing ground will only deepen and the first players to feel the impact will be those operating closest to the consumer.