Hong Kong Financial Secretary Paul Chan: Hong Kong will become the world's leading cross-border asset management center within two to three years

According to ChainCatcher news, the Hong Kong government press release states that the Financial Secretary of Hong Kong, Paul Chan, said today at an event: "As of the end of March this year, the number of registered funds in Hong Kong reached 976, with a net inflow of over 44 billion USD recorded year-on-year, an increase of 285%. Family offices are expected to increase from 2,700 to 3,000 soon, and Hong Kong will become the world's leading cross-border asset management center within two to three years.

In terms of financial innovation, there has been a strong market interest in digital assets recently, particularly the issuance of stablecoins, which has sparked heated discussions. The legislative work on stablecoins has made Hong Kong one of the first jurisdictions in the world to establish a regulatory framework for stablecoins. We embrace the development of digital assets and have accelerated the improvement of the relevant legal regulatory framework in recent years, such as the licensing system for virtual asset trading platforms, having issued 10 licenses and currently reviewing another eight applications."