John Lee: Hong Kong will deepen its stock market and expand world-class bond and currency markets

Techub News, according to Wen Wei Po, Hong Kong Special Administrative Region Chief Executive John Lee delivered a speech at the Hong Kong FinTech Week today, stating that the Policy Address proposed a series of measures to promote economic growth and strengthen Hong Kong's competitiveness. To consolidate Hong Kong's status as an international financial center, it will deepen the stock market, expand world-class bond and currency markets, and simultaneously advance the development of the insurance, asset, and wealth management industries. Regarding the stock market, it will support mainland technology companies in raising funds in Hong Kong, encourage overseas companies to seek secondary listings in Hong Kong, and welcome U.S.-listed Chinese companies to return, choosing Hong Kong as their preferred destination. Hong Kong is also committed to improving bond market infrastructure and establishing connections with overseas markets, including Switzerland and the UAE.

He pointed out that Hong Kong is the world's largest offshore RMB hub and will continue to support the use of RMB in Hong Kong's economy. The Hong Kong Monetary Authority will provide longer-term RMB financing for enterprises through currency swap arrangements with the People's Bank of China, to be used for trade, operations, and capital expenditures. In terms of fintech, the HKMA's Ensemble project sandbox is exploring tokenization applications.

John Lee believes that Hong Kong has numerous opportunities and a bright future ahead, and enterprises, investors, and talents collaborating with Hong Kong will have promising prospects.