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Hong Kong is setting its sights on changing into a worldwide chief in two new fields: inexperienced finance and Internet 3.0, in response to a current speech by town’s Monetary Secretary Paul Chan. The speech outlined Hong Kong’s strategic plans for financial growth, with a particular emphasis on these two progressive sectors.
Chan highlighted Hong Kong’s dedication to inexperienced finance, a dedication that mirrors the worldwide pattern in direction of sustainable and eco-friendly practices in finance. Final yr, Hong Kong’s inexperienced finance initiatives reached a staggering 80 billion US {dollars}, making up one-third of Asia’s complete bond issuance. The town can be main the best way in setting market requirements for inexperienced bonds, with the launch of 30-year US greenback inexperienced bonds and 20-year Euro bonds.
In a groundbreaking transfer, Hong Kong has began issuing inexperienced bonds utilizing tokenization, showcasing its dedication to monetary innovation.
Alongside inexperienced finance, Hong Kong can be setting its sights on Internet 3.0, with a particular give attention to digital property. Drawing from experiences across the globe, town started issuing licenses for these property on June 1st. The Hong Kong Securities and Futures Fee is tasked with imposing efficient regulation and fostering sustainable progress on this sector.
The Monetary Secretary additionally highlighted in his speech that as a monetary heart, the market worth of Hong Kong’s inventory market is 4.6 trillion US {dollars}, and the dimensions of asset administration and wealth administration companies can be 4.6 trillion US {dollars}.
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