ChainCatcher news, the Global President of the Hong Kong Invest Hong Kong (Financial Services and Technology, Sustainable Development) Liang Hanjing stated that in the first eight months of this year, the Invest Hong Kong has assisted 59 fintech companies in establishing or expanding their businesses in Hong Kong, an increase of 44% compared to the same period last year. These 59 companies come from 12 economies, with 40% from mainland China, and the rest from the United States, France, Singapore, Canada, and the United Kingdom.In recent years, several sectors of the Hong Kong fintech industry have seen a significant number of companies opening in Hong Kong, such as digital assets, blockchain, and Internet 3.0. This year, a powerful digital bank from mainland China established a fintech subsidiary in Hong Kong and set up its international headquarters there to expand its business globally.

ChainCatcher news, Mr. Leung Hon-king, the Financial Technology Director of the Hong Kong Special Administrative Region Investment Promotion Agency, stated in an interview with China Fund News that the Hong Kong SAR government attaches great importance to the development of the fintech industry, including digital asset trading, and is highly concerned about the issuance of security tokens. The government is actively advancing relevant preparations. Previously, in mid-August, the Investment Promotion Agency organized a closed-door meeting to facilitate communication between the Hong Kong SAR government and leaders in the virtual asset industry.Leung Hon-king pointed out that the first step is to have a compliant trading platform recognized by the Hong Kong Securities and Futures Commission, and "this step has been completed." Currently, several virtual asset trading platforms in Hong Kong, such as OSL and HashKey, have completed their filings. The second step is to have products. Currently, some trading platforms in Hong Kong are collaborating with well-known real estate developers, surveying firms, and the Big Four accounting firms to design pilot security token products. The most important step is to improve the relevant legislation for the regulation of virtual asset service providers (VASP).Leung Hon-king expects that the "Amendment Bill" will likely be passed in the Legislative Council in the first quarter of 2023. At that time, it is believed that more VASPs will apply for licenses from regulatory authorities, and virtual asset trading in Hong Kong will flourish. (source link)