Li Jiachao: Promote the application of artificial intelligence in innovative financial services such as central bank digital currency and virtual asset trading

ChainCatcher news, the Chief Executive of the Hong Kong Special Administrative Region, John Lee, stated that the government will continue to promote the policy stance and guidelines for innovative financial services applications of central bank digital currency, mobile payments, virtual banks, virtual insurance, and virtual asset trading using artificial intelligence.

Measures include: 1. Promoting the application of central bank digital currency for cross-border payments. The Hong Kong Monetary Authority is actively testing and exploring more technological solutions and scenarios related to cross-border trade settlement on various central bank digital currency cross-border networks, and expanding the participation of public and private institutions. 2. Improving the regulation of virtual assets and trading. The Financial Services and the Treasury Bureau will complete the second round of consultation on the regulation of over-the-counter trading of virtual assets and submit a virtual licensing system to regulate virtual asset custodial service providers. 3. Promoting the tokenization of real-world assets and the digital currency ecosystem. The Hong Kong Monetary Authority is promoting the progress of the Ensemble project.