Invest Hong Kong hosted “Hong Kong Fintech Week 2022” from October 31 to November 4 through a combination of offline and online formats. The theme of this year’s FinTech week was “Breaking Boundaries, Creating the Extraordinary”, which aims to reflect Hong Kong’s breakthrough in FinTech
Hong Kong officially released the “Policy Statement on Virtual Asset Development in Hong Kong”, which sets out the HKSAR Government’s policy stance and approach to the development of a vibrant virtual asset industry and ecosystem in Hong Kong. The Policy Statement states that the Hong Kong Securities and Futures Commission will launch a public consultation on the appropriate extent to which retail investors can trade in virtual assets under the new licensing regime.
The HK Government welcomes the possibility of introducing exchange-traded funds for virtual assets in Hong Kong. The Hong Kong Government is open to reviewing the property rights of tokenized assets and the legality of smart contracts in the future to facilitate their development in Hong Kong. The Hong Kong Monetary Authority will later release the results of the consultation and next steps on the regulatory regime for stablecoins. In addition, the government and regulators are looking into launching a series of pilot schemes to test the technological benefits brought by virtual assets and to try to further apply the technology to the financial markets. These pilot schemes include the issuance of non-homogenized tokens for Hong Kong Fintech Week 2022, green bond tokenization and digital Hong Kong Dollar.
Yi Gang, the Governor of the People’s Bank of China delivered a speech at FinTech Week (virtually). His speech was published on the official website of the Central Bank of China. Yi said that in designing the Digital RMB, the central bank has adopted a “two-tier operation” and “controlled anonymity” approach to protecting personal privacy while maintaining financial security. The PBoC is currently working with the Hong Kong Monetary Authority and other monetary authorities on CBDC. It is hoped that such cooperation will better serve the needs of international and domestic markets and help strengthen Hong Kong’s position as an international financial center. Looking ahead, the PBoC is willing to strengthen cooperation with various monetary authorities and international institutions on CBDC.
Hong Kong 01, the organizer media of Hong Kong Fintech Week, also held the Hong Kong Fintech Week Fintech Awards and Prizes, in which ACU Group won the Innovative E-Money Technology Application Award. This is a great encouragement to ACU Group for its efforts over the years.
Several market factors are supporting the ACU Group: HK FinTech Week, the decision of the HK Government to explore blockchain, the digital HKD, and NFT issuance. ACU Group based in Hong Kong has focused on the development of a blockchain public chains since its inception.
ACU Group has now officially launched the AET public chain and issued corresponding e-currencies and applications to the public, promoting them in Southeast Asian countries such as Malaysia, Thailand, and African countries such as Angola and Zambia. During this year’s Hong Kong Fintech Week, the Hong Kong Government officially declared to join the financial services of blockchain tokens, which is a great opportunity for ACU Group. ACU Group will seize this opportunity to cooperate with the Hong Kong government with its existing blockchain technology to promote the implementation of the Hong Kong Government blockchain tokens.
