TechFlow news — On November 28, according to aastocks, Hon. William Li, Legislative Council Member (Financial Services), introduced and successfully passed a motion titled "Promoting High-Quality Development and Building a Strong Financial Nation" during a LegCo session. The motion centers on six core elements and the "Five Major Articles," under which, in the area of digital finance, it recommends allowing retail investors to participate in a wider variety of virtual asset trading across different types and currencies, and calls on the Securities and Futures Commission (SFC) to accelerate the licensing upgrade approval process.
Mr. Li also proposed that the Hong Kong Monetary Authority (HKMA) strengthen collaboration with the People's Bank of China (PBOC) and address industry challenges regarding bank account openings for virtual asset firms. On inclusive finance, he suggested that the government promote the retailization of financial products, enabling retail investors to access a broader range of investment opportunities via compliant platforms and reducing restrictions currently imposed on professional investors. Furthermore, he recommended studying the establishment of a Hong Kong-specific ESG certification framework to assist mainland enterprises in producing ESG reports aligned with international standards.
