Xu Zhengyu: Hong Kong needs to provide financial products that adapt to the development of the digital economy and improve the regulatory framework for stablecoins and over-the-counter trading of virtual assets
ChainCatcher news, the Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region, Christopher Hui, stated that Hong Kong will continue to enhance its market competitiveness, strengthen connectivity with the mainland, and accelerate the development of new financial sectors. These "three drivers" will consolidate and elevate its status as an international financial center, serving the overall national development.Hong Kong needs to provide financial products that are compatible with the development of the digital economy, and the connectivity with the mainland market is crucial for consolidating and enhancing Hong Kong's status as a financial center. Hong Kong will also accelerate the development of new financial sectors, including green finance and financial technology, and improve the regulatory framework for emerging areas such as stablecoins and over-the-counter trading of virtual assets, hoping that the market will develop on a stable and sustainable path.