Letters | Fintech is moving fast. Gen Z’s financial literacy must keep pace
Readers discuss the need to get the basics right in financial education, introducing means testing for electricity subsidy, and an unexpected encounter with American spelling in Hong Kong
At dinner in Causeway Bay one evening, I overheard a young man sitting nearby talking excitedly about his experience investing in cryptocurrencies. It was encouraging to see such enthusiasm in a young Hongkonger, but I wonder if his engagement with emerging technologies is matched by a familiarity with foundational financial concepts such as how to interpret his own payslip.
I see a broader pattern: many Gen Z Hongkongers I know have a keen interest in sophisticated financial instruments yet have limited exposure to financial fundamentals. They are genuinely interested in the markets. They follow trading platforms and discuss blockchain developments. Yet they may not know how compound interest builds wealth, how to read a tax document or how to plan for retirement.
This reflects a lack of financial literacy education. Hong Kong’s education system prioritises academic excellence. However, practical financial literacy has not been integrated into the curriculum.
Meanwhile, technology platforms have made investing more accessible than ever. Gen Z youth grew up with digital tools that previous generations didn’t access until much later in their careers. This creates a gap between accessibility and knowledge.
The authorities recognise this problem and have rolled out initiatives such as “Hong Kong Money Month 2025” to raise awareness. But the need is urgent: investing is fast becoming a game, with access granted to anyone who wants it. Many of these instruments are leveraged and volatile, dangerous enough to wipe you out in seconds. This downside must be actively managed.