The Securities and Futures Commission (SFC) welcomes the measures proposed by the Financial Secretary, Mr Paul Chan, in the government’s 2023-2024 budget to further enhance Hong Kong’s status as an international financial centre.
“The proposed initiatives to develop Hong Kong into an international green technology and financial centre will create new pathways for sustained and high-quality growth through technology and innovation,” the SFC’s Chairman, Mr Tim Lui said.
The SFC also supports the proposals to promote digital economy development in Hong Kong and the establishment of a task force on virtual asset development. In this connection, the SFC has recently launched a public consultation on the proposed regulatory requirements for virtual asset trading platforms to ensure investors are adequately protected by a range of robust safeguards (Note 1).
“We also welcome the government’s initiatives in consolidating Hong Kong’s leading role as a full-fledged financial centre, including the continued expansion of mutual market access schemes; new incentives to attract more family offices to operate in Hong Kong, and supportive measures for the asset and wealth management sector,” Mr Lui added.
The SFC looks forward to working closely with the government and regulatory counterparts to leverage Hong Kong advantages to further complement the Mainland’s economic and financial developments and safeguard financial security.
On enhancing the listed markets, the SFC will continue to work with the Hong Kong Exchanges and Clearing Limited to refine Hong Kong’s listing regime, to further diversify listing channels and to provide more choices to investors.
Note:
- Please see the SFC’s press release dated 20 February 2023.
