Secretary for Financial Services and the Treasury, Christopher Hui: Hong Kong has already issued licenses to 11 virtual asset trading platforms and is expected to issue stablecoin licenses later this year.

On January 20th, during the World Economic Forum in Davos, Hong Kong Financial Secretary Paul Chan Mo-po stated that Hong Kong, as an international financial center, is taking a proactive and prudent approach to develop digital assets, promoting market responsibility and sustainable development based on the principles of "same activities, same risks, same regulations". Since 2023, Hong Kong has licensed 11 virtual asset trading platforms and is expected to issue stablecoin licenses later this year. In addition, the Hong Kong government is leading by example in promoting tokenization development, including issuing three batches of tokenized green bonds worth approximately $2.1 billion, and launching a regulatory sandbox to encourage application innovation. He emphasized that finance and technology can mutually reinforce each other, citing digital assets as an example. This financial innovation not only enhances the transparency, efficiency, inclusiveness, and risk management of financial services but also more effectively channels capital into the real economy sector. Additionally, finance is a key force that supports and empowers the development of technology.