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Hong Kong Financial Secretary Paul Chan: Embrace Development of Digital Assets, Expected to Become Global Leading Cross-Border Asset Management Center in 2-3 Years
Summary: According to reports, Hong Kong Financial Secretary Paul Chan stated today at an event that as of the end of March this year, Hong Kong had 976 registered funds, with a net inflow of funds exceeding $44 billion annually, a 285% increase. The number of family offices is expected to increase from 2,700 to 3,000 ...
According to reports, Hong Kong Financial Secretary Paul Chan stated today at an event that as of the end of March this year, Hong Kong had 976 registered funds, with a net inflow of funds exceeding $44 billion annually, a 285% increase. The number of family offices is expected to increase from 2,700 to 3,000 soon, positioning Hong Kong to become the world's leading cross-border asset management center in two to three years. In terms of financial innovation, there has been strong interest in digital assets in the market recently, especially with the issuance of stablecoins sparking heated discussions. The legislation on stablecoins has made Hong Kong one of the first jurisdictions globally to establish a legal regulatory framework for stablecoins. We embrace the development of digital assets and have accelerated the improvement of relevant legal regulatory frameworks in recent years, such as the licensing system for virtual asset trading platforms, with 10 licenses already issued and another eight applications under review.
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Link: Hong Kong Financial Secretary Paul Chan: Embrace Development of Digital Assets, Expected to Become Global Leading Cross-Border Asset Management Center in 2-3 Years [Copy]
