Hui Ching-yu: Hong Kong's "tokenization" is moving toward the implementation stage, and the financial ecosystem is becoming more complete.

Hong Kong's Secretary for Financial Services and the Treasury, Hui Ching-yu, pointed out that Hong Kong's "tokenization" progress is moving from the "experimental stage" toward the "implementation stage." He noted that Hong Kong currently gathers more than 1,400 fintech companies, including 8 virtual banks, 4 virtual insurance companies, and 12 licensed virtual asset trading platforms, achieving excellent results in advancing "tokenization." Hui Ching-yu continued that, as of the end of last year, Hong Kong's development momentum in the digital asset and custody sectors had been rapid, with the scale of "tokenized deposits" alone reaching HK$39 billion. Together with last month's fourth issuance of digital green bonds, which was oversubscribed across all currencies and achieved the world's first inclusion of tokenized Hong Kong dollar deposits in the settlement process, this demonstrates Hong Kong's leading position in driving the development of next-generation financial infrastructure. She pointed out that, driven by this strong momentum in the tokenization sector, the Hong Kong government is steadily advancing policies related to digital assets and has set out the development direction in the "Policy Statement 2.0 on the Development of Digital Assets in Hong Kong." He continued that Hong Kong has been continuously enriching the variety of tokenized products, expanding practical application scenarios, and strengthening collaboration across the entire financial ecosystem, such as the issuance of Hong Kong dollar stablecoins. The Hong Kong government is also deploying AI and related large-scale infrastructure on a large scale in the financial sector. Hui Ching-yu mentioned that HKEX (00388) is committed to launching a tokenized warehouse receipt financing pilot program next year. The project will cooperate with designated banks and use distributed ledger technology (DLT) to promote the use of commodity warehouse receipts as collateral. In addition, HKEX is also building a multi-asset tokenization platform, which includes commodity warehouse receipts from recognized warehouses. He said that the Hong Kong government will fully leverage its own advantages to build a more complete financial ecosystem and inject new momentum into the development of the financial industry. In the future, it will adhere to a forward-looking strategy, continue to leverage its advantages in the "Finance+" and "AI+" fields, and consolidate Hong Kong's position as a global financial center.