Hong Kong Monetary Authority Chief Executive: The Exchange Fund does not currently consider allocating virtual assets

ChainCatcher news, according to Aastocks, the President of the Hong Kong Monetary Authority, Yu Weiwen, stated at the Legislative Council's Financial Affairs Committee meeting that the investment strategy of the foreign exchange fund will continue to focus on liquidity, stability, long-term returns, and diversified income. Although metals and mainland assets have already been allocated, he made it clear that there is no intention to allocate virtual assets.

In light of the market volatility brought about by current geopolitical issues, Yu Weiwen emphasized the importance of safety. Regarding the impact of the strengthening US dollar, he pointed out that the appreciation of the Hong Kong dollar following the US dollar will help alleviate local inflationary pressures, but may affect consumption and the tourism industry. HKMA Vice President Yuen Kwok-hang added that the total amount of loans in the Hong Kong banking system has declined for three consecutive years, mainly due to demand-side issues.