Also looking ahead, Chief Executive of the HKSAR, John Lee, in his 2024 Policy Address, proposed developing Hong Kong into becoming a gold trading centre. The Working Group on Promoting Gold Market Development will formulate a plan this year, covering measures to enhance storage facilities, optimise trading and regulatory mechanisms, expand exchange products, and conduct market promotion.
In terms of promoting fintech, the Government’s multi-pronged approach includes enhancing relevant infrastructure; building a more active fintech ecosystem; nurturing fintech talent; as well as strengthening co-operation with the Mainland and overseas.
The Government will soon promulgate a second policy statement on the development of virtual assets to explore the integration of traditional finance and virtual assets.
In October 2024, the Government issued a policy statement, setting out its stance and approach towards the responsible application of Artificial Intelligence (AI) in the financial market. In addition, the Hong Kong Monetary Authority (HKMA) and Hong Kong Cyberport have launched a new Generative AI Sandbox to foster innovation in the banking industry.
