On 2 April 2026, Carmen Chu, the Executive Director of the Hong Kong Monetary Authority (HKMA), outlined a strategic pivot toward “Data Excellence for Intelligent Risk Management.” at the FiNETech flagship event. The central to this initiative is the transition from siloed, structured data governance to a comprehensive utilization of both structured and unstructured data to power advanced AI and generative AI applications. To formalize this transition, the HKMA introduced the DataGRID framework, prioritizing four key pillars: Granularity, Reliability, Ingenuity, and Discoverability. This framework aims to transform data from a compliance burden into a competitive advantage. Implementation will be supported by three core building blocks: the co-design of data foundations, the establishment of a sector-specific reference architecture, and the launch of GDR 3.0. This revamped reporting model adopts a “Report Once, Use Multiple” principle, aiming to replace rigid cycles with seamless, on-demand data transmission. Ultimately, these initiatives seek to foster an industry-wide ecosystem capable of real-time, predictive risk supervision.
Sources: https://www.hkma.gov.hk/eng/news-and-media/speeches/2026/04/20260402-1