Hong Kong Chief Executive Policy Office Holds Digital Finance Forum to Explore High-Quality Development and Contribute to Building a "Financial Powerhouse"

Techub News reports that according to Sing Tao Daily, the Hong Kong Chief Executive Policy Group held a Digital Finance Roundtable, with participants including research teams from the People’s Bank of China Financial Research Institute, members of the Web3.0 Development Task Force, and former HKMA Chief Executive Norman Chan. The meeting discussed how Hong Kong can contribute to the construction of a strong national financial system through digital finance application scenarios, balancing regulation and development, and connecting mainland digital financial infrastructure for coordinated development.

During the meeting, Norman Chan stated, “Cryptocurrencies are neither the only encrypted assets nor currency,” and pointed out that assets like Bitcoin do not possess the properties of currency, highlighting the need for regulatory measures such as anti-money laundering and investor protection. Regarding the connection and coordinated development of digital financial infrastructure between Hong Kong and the mainland, some participants believe that cooperation has moved from infrastructure interconnection to a new stage of ecosystem co-construction. Others suggested that the core of development lies in leveraging the complementary effects of mainland market demand and Hong Kong’s international advantages. As a “testing ground” for national financial security and a cross-border “super connector” and “super value enhancer,” Hong Kong still has significant room for deepening cooperation with the mainland. Future topics worth exploring include cross-border cooperation of central bank digital currencies, integration of digital renminbi in various application scenarios, and ongoing innovation.