FSDC recommends four growth paths to promote Hong Kong as a digital asset hub

Hong Kong Monetary Authority's Chief Executive, Eddie Yue, attended the annual meeting of the Hong Kong Independent Non-Executive Directors Association and pointed out that Hong Kong can develop from four growth paths: asset and wealth management center, international sustainable finance center, promoting Hong Kong as a digital asset center, international innovation and technology center.

Yue said that the Hong Kong government is committed to supporting the development of the Web3.0 ecosystem. In the 2023-2024 budget, HKD 50 million has been allocated to accelerate the development of the ecosystem. The Securities and Futures Commission has approved virtual asset futures and spot ETFs, allowing retail investors to invest in regulated virtual asset products. Among them, the virtual asset spot ETF is the first listed product in Asia.