Eddie Yue: Hong Kong will build a platform that leads in global trends such as technology and green.

On November 5, Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, attended the Private Wealth Management Association Summit and said that Hong Kong's future development will be even more vibrant, continuing to play its role as a super connector and gateway, and vigorously developing the bond, gold, and commodities markets to build a platform that leads in global trends such as technology and green. He believes that tokenization is an extremely excellent tool for making the financial system more efficient and secure, and noted that the traditional financial system will continue to dominate at this stage, but the tokenized financial system will gradually expand at a fairly rapid pace. Digital bonds have already been implemented in Hong Kong, and he is optimistic that tokenized funds will see the same development, as will other products such as tokenized gold. Eddie Yue pointed out that agentic finance is the frontier of the next stage of development, but it is necessary to ensure the accuracy, consistency, and explainability of AI models. The Hong Kong Monetary Authority is collaborating with the Bank for International Settlements Innovation Hub, the UK Financial Conduct Authority, and the Saudi Central Bank on Project Noor to develop a set of explainable AI tools, with a prototype to be released early next year. He continued that global investors are diversifying, increasingly venturing into different regions of the world, and China and Asia remain highly attractive to them. In Asia, a large amount of sovereign fund and pension investment can be seen, and they are all seeking to invest in Chinese assets through Hong Kong. When China's wealthy class goes global, since the vast majority of their assets are currently still onshore, they will also want to diversify their allocations globally, and they can do so through offices in Hong Kong.