Chan Mo-po: Embracing digital assets is an inevitable development, and Hong Kong currently handles nearly 80% of the global offshore RMB transactions.

According to Techub News and reported by Ming Pao, Hong Kong's Financial Secretary Paul Chan attended the "Wealth Management Expo 2025" and stated that embracing digital assets is an inevitable development. Recently, Hong Kong has passed licensing for virtual asset trading platforms, issuing about 10 licenses, with 8 more under processing. With the stablecoin regulations set to take effect on August 1 of this year, Hong Kong will become one of the first jurisdictions in the world to establish a regulatory framework for stablecoin legislation.

Chan Mau-po stated that under the current international political and financial landscape, Hong Kong has shown excellent performance as an international financial center since last year and is steadily moving forward. He is confident that Hong Kong will become a safe harbor for funds. Chan continued to point out that finance is an important engine for Hong Kong's economic development. It is expected that within the next 2 to 3 years, Hong Kong will surpass Switzerland to become the world's leading cross-border asset management center. He mentioned that Hong Kong currently handles nearly 80% of the global offshore RMB transactions, reinforcing and enhancing Hong Kong's position as an offshore RMB trading hub, which demonstrates Hong Kong's commitment to aligning with the national strategy.