TechFlow reports that at the 2024 Hong Kong Web3 Summit, Christopher Hui, Deputy Secretary for Financial Services and the Treasury of Hong Kong, stated that Hong Kong will become Asia's largest hub for cross-border asset development, its stock market will become a key investment destination, and it will take a leading position globally in financial technology.
He also mentioned that Hong Kong has matured significantly in issuing virtual banks under government leadership and will become even more open in the future. Hui emphasized that the Web3 industry requires an open, transparent, predictable, and regulated environment. He expressed hope that ETFs in Hong Kong could eventually be tokenized and traded similarly to government-issued green treasury bonds, with many more innovative products listed in the future. He added that Hong Kong will integrate more closely with Web3 and better connect with capital markets to enhance market efficiency.
