Hong Kong Regulator Outlines 3-Yr Technique Specializing in Innovation and Competitiveness
New 3-year technique from Hong Kong’s SFC focuses on increasing digital property, tokenization, and sustainable finance.
Based on the SFC’s report, the regulator goals to strengthen town’s monetary markets within the face of “unprecedented challenges and alternatives” led to by “shifting tides within the world markets, geopolitical tensions and technological advances.”
A key precedence is embracing innovation by way of new applied sciences and ESG. The SFC plans to advance the regulatory regime for digital property, help the tokenization of conventional property, and drive the expansion of ESG investing in Hong Kong and Asia. On the identical time, it goals to stem dangers like greenwashing.
To spice up competitiveness, the SFC intends to deepen connections with mainland China’s capital markets, increase abroad networks, and improve Hong Kong’s IPO fundraising. It additionally goals to introduce extra China-related derivatives to extend Hong Kong’s danger administration capabilities.
SFC Chairman Tim Lui acknowledged that the brand new strategic priorities will “fortify the core strengths of our capital markets, drive their sustainable improvement, and improve their competitiveness.”
The SFC’s report outlines actions deliberate over the subsequent three years to implement the technique. These embrace using know-how to enhance enforcement, monitoring rising dangers, educating traders, collaborating with mainland and abroad regulators, and streamlining inside processes.
Based on Lui, “With this roadmap, the Fee is now higher positioned than ever to reply robustly and creatively to new regulatory challenges at house and overseas and to form market developments.”
