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The following press release is issued collectively by the Hong Kong Monetary Authority, the Securities and Futures Commission, the Insurance Authority and the Mandatory Provident Fund Schemes Authority:

The Hong Kong Monetary Authority (HKMA), the Securities and Futures Commission (SFC), the Insurance Authority (IA), and the Mandatory Provident Fund Schemes Authority (MPFA), in collaboration with the Hong Kong Cyberport Management Company Limited (Cyberport), announced today (5 March) the launch of the Generative Artificial Intelligence (GenA.I.) Sandbox++ initiative. 

Building on the success of the GenA.I. Sandbox initiative launched in 2024, regulators jointly expand the GenA.I. Sandbox++ to cover multiple financial sectors including banking, securities and capital markets, asset and wealth management, insurance, mandatory provident fund (MPF) and stored value facilities.

The initiative maintains its focus on three high-impact areas — risk management, anti-fraud, and customer experience — while continuing to advance “A.I. vs. A.I.” strategies by leveraging A.I. to manage the risks associated with A.I. adoption. Participating financial institutions will receive targeted supervisory guidance, technical support, and complimentary access to graphics processing unit (GPU) computing resources at Cyberport’s A.I. Supercomputing Centre, enabling them to develop, pilot, and refine their use cases in a risk-controlled environment, thereby accelerating responsible A.I. adoption across Hong Kong’s financial ecosystem.

By fostering collaboration among regulators, financial institutions, and technology firms, the initiative aims to spark new ideas and cultivate deeper cross-sector and cross-boundary partnerships. The initiative encourages the development of both sector-specific and cross-sector A.I. applications, including A.I.-driven insurance underwriting and claims processing, suitability requirements compliance assessment during investment products distribution, A.I.-powered tools for handling MPF and industry-wide use cases such as intelligent customer chatbots and advanced fraud detection systems. 

Mr Eddie Yue, Chief Executive of the HKMA, stated, “The launch of the GenA.I. Sandbox++ marks a significant milestone under our ‘Fintech 2030’ strategy, reinforcing our commitment to building a vibrant ecosystem for responsible innovation. By bringing together regulators, financial institutions, and the tech community, we aim to unlock A.I.’s full potential to drive growth, efficiency, and customer-centricity across financial services, further strengthening Hong Kong’s competitiveness as a leading international financial centre.”

Ms Julia Leung, Chief Executive Officer of the SFC, said, “Expanding the GenA.I. Sandbox to broader capital market participants is a true testament to our collective resolve to drive responsible market innovation and a tech-enabled and future-proof financial market. We encourage licensed corporations to actively participate in this Sandbox to harness the boundless potential of A.I. in enhancing operational efficiency, bolstering resilience and unlocking growth." 

Mr Clement Cheung, Chief Executive Officer of the IA, said, "The GenA.I. Sandbox++ is a collective drive made by the financial regulators to nurture an environment conducive to A.I. innovation anchored upon accountability, inclusiveness and prudence. This thinking aligns with our AI Cohort Programme which has generated interest in knowledge sharing and use case deployment, while attracting an inflow of talents that should help to strengthen the competitiveness of Hong Kong as a regional A.I. hub."

Mr Cheng Yan-chee, Managing Director of the MPFA, said, "To further support the healthy and innovative development of A.I. in the MPF industry, the MPFA strongly encourages the MPF trustees and intermediaries to actively explore the adoption of advanced financial technology solutions. By leveraging A.I., MPF trustees and intermediaries can enhance operational efficiency and elevate the quality of services, thus bringing more value to benefit MPF scheme members." 

–Ends–

Hong Kong Monetary Authority

Securities and Futures Commission

Insurance Authority

Mandatory Provident Fund Schemes Authority 

5 March 2026