Second policy statement on development of digital assets issued to scale Hong Kong to new heights of global digital asset leadership

The Government today (June 26) issued the Policy Statement 2.0 on the Development of Digital Assets in Hong Kong, reinforcing its commitment to establishing Hong Kong as a global hub for innovation in the digital asset (DA) field. This new policy statement builds upon the foundational measures outlined in the initial policy statement released in October 2022.

The Policy Statement 2.0 sets out a vision for a trusted and innovative DA ecosystem that prioritises risk management and investor protection, while delivering concrete benefits to the real economy and financial markets. The latest statement introduces the “LEAP” framework, which focuses on:

The full policy statement can be seen at the Annex.

The Financial Secretary, Mr Paul Chan, said, “Digital assets hold great development potential with significance to fintech. Through the adoption of blockchain technology, more efficient financial transactions at a lower cost can be realised to bring in more inclusive financial services. The Policy Statement 2.0 sets out our vision for DA development and showcases the practical use of tokenisation through application, with a view to boosting the diversification of use cases. We strive to build a more flourishing DA ecosystem which will integrate the real economy with social life through a prudent regulatory regime and encouragement to market innovation, such that it will bring benefits to both the economy and society while consolidating Hong Kong’s leading position as an international financial centre.”

The Secretary for Financial Services and the Treasury, Mr Christopher Hui, said, “Hong Kong is uniquely positioned to bridge traditional finance with the DA era. The framework set out in the Policy Statement 2.0 helps us “LEAP” towards a trusted, sustainable and deeply integrated DA ecosystem embedded within the real economy. It also keeps Hong Kong at the forefront of digital transformation, offering a clear roadmap for businesses and investors to thrive in a secure and vibrant DA market.”

The FSTB and the SFC will be conducting public consultations on the licensing regimes for DA dealing service providers and DA custodian service providers shortly.

FS continues visit to Tianjin (with photos/video)

​The Financial Secretary, Mr Paul Chan, continued his visit to Tianjin today (June 25) to attend the World Economic Forum Annual Meeting of the New Champions 2025 (also known as the Summer Davos). In the evening, he travelled to Beijing to attend the Host Member Gala Dinner for the 10th Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB).

In the morning, Premier Li Qiang attended the opening ceremony of the Summer Davos and delivered a speech. In addition to attending the opening ceremony, Mr Chan participated in a discussion session in the afternoon titled, “Is the Asian Century at Risk?”. Other regional leaders in attendance included the Prime Minister of Vietnam, Mr Pham Minh Chinh; the Deputy Chairperson of Indonesia’s Gerindra Party, Ms Rahayu Saraswati Djojohadikusumo; and the Minister of Industry and Entrepreneurship Development of Sri Lanka, Mr Sunil Handunneththi. The discussion focused on how Asia could address local development and external challenges amid the current geopolitical tensions, trade barriers and technological transformation.

During the session, Mr Chan remarked that the Asian region is developing rapidly, with Hong Kong benefitting from its unique position under “one country, two systems”. He highlighted Hong Kong’s dual advantages of priority access to the Mainland’s market and its connectivity to the global economy, serving as a gateway between the Mainland and the world. As an international financial centre, Hong Kong facilitates efficient two-way capital flows and cross-border financial co-operation within Asia and between Asia and other regions. In the current international geopolitical and economic environment, Hong Kong is actively supporting Mainland enterprises in expanding internationally and building global industry chains and supply chains.

In response to questions, Mr Chan emphasised that since the implementation of the Hong Kong National Security Law, Hong Kong has provided a more stable and secure business environment that allows society to focus on economic development. He pointed out that the performance of Hong Kong’s capital markets over the past year, along with surveys conducted by various foreign chambers of commerce, demonstrates that international investors are showing confidence in Hong Kong with their capital and actions. Mr Chan further noted that Hong Kong’s openness, diversity and international outlook under “two systems”, along with its common law system, remain key advantages in attracting international businesses and talent.

Mr Chan also met with the Chairman ad interim of the World Economic Forum, Mr Peter Brabeck-Letmathe, during which he briefed him on Hong Kong’s latest economic developments, including progress in the financial and innovation and technology (I&T) sectors. The two sides also explored opportunities to strengthen co-operation in technological innovation and personnel exchanges. Mr Chan expressed gratitude to the World Economic Forum for offering secondment opportunities to Hong Kong SAR Government personnel, enabling them to gain more international exposure.

During his time in Tianjin, Mr Chan participated in the following activities:

(1) A thematic session titled “Funding China’s Next Tech Breakthrough” hosted by the Hong Kong Exchanges and Clearing Limited, where he shared with representatives from investment banks, funds, asset management firms, I&T companies and think tanks how Hong Kong provides a full range of fundraising options – from start-up investments to stock market listings – to provide financial support to the accelerated development of I&T enterprises;

(2) An exchange session between technology enterprises from Tianjin and Hong Kong organised by Hong Kong Science and Technology Parks Corporation, where Mr Chan introduced the dual advantages of Hong Kong’s financial and I&T synergy to I&T enterprises from Tianjin and Hong Kong, and accelerating the development of I&T through financial empowerment. Some members of the I&T delegation on the visit also participated in the session, where they explored collaboration opportunities with Tianjin’s I&T companies; and

(3) A gathering hosted by the Hong Kong Chamber of Commerce in Tianjin, where Mr Chan shared updates on Hong Kong’s economy, future development directions, and opportunities for further strengthening co-operation between Tianjin and Hong Kong in finance, trade and I&T.

After concluding his visit to Tianjin, Mr Chan proceeded to Beijing to attend the Host Member Gala Dinner for the 10th Annual Meeting of the Board of Governors of the AIIB.

Mr Chan will attend the 10th Annual Meeting of the Board of Governors of the AIIB tomorrow (June 26).