SFC welcomes government budget measures

The SFC is particularly pleased with the measures proposed by the Financial Secretary to strengthen Hong Kong as a prime listing destination for international issuers, create an enabling environment for innovative green financing and expand the reach of our financial products markets. The new initiatives include the development of green finance and enhanced support for innovation and technology-driven enterprises. These will help unleash Hong Kong’s full potential to become a global green finance and technology hub.

In addition, the SFC is committed to encouraging the development of innovative new technologies, such as those related to virtual assets, in Hong Kong. Specifically, it has been developing a regulatory framework for virtual asset trading platforms, which would require them to comply with enhanced safeguards and oversight rules. The consultation paper issued by the SFC on this proposed framework allows stakeholders to offer their views and comments so that the SFC can develop an appropriate and balanced regulatory approach. The SFC will consider all feedback from this public consultation before formulating its final proposals. Furthermore, The SFC will work closely with other regulators in the Mainland and other countries to create a cross-border regulatory system that enables market participants to tap into new investment opportunities.

resource: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=23PR6

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