Budget 2025: Hong Kong to bolster role in wealth, listings, digital assets, yuan
Hong Kong's latest budget aims to bolster its position as an international financial center and yuan trading hub through measures promoting wealth management, family offices, new share listings, and yuan-denominated business. Financial Secretary Paul Chan emphasized the city's commitment to high-quality development of its financial market to create new growth opportunities.
The budget includes plans for the Hong Kong Exchanges and Clearing (HKEX) to establish a "technology enterprises channel" to facilitate listings for specialist technology and biotechnology companies, particularly those already listed in mainland China. Furthermore, the government will review regulations to promote the issuance of tokenized bonds, with the Hong Kong Monetary Authority preparing its third round of such bonds. Chan projects Hong Kong will become the world's largest cross-boundary wealth-management center by 2028, noting that the city already held approximately HK$31 trillion (US$4 trillion) in assets under management at the end of 2023.
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Hong Kong's latest budget aims to bolster its position as an international financial center and yuan trading hub through measures promoting wealth management, family offices, new share listings, and yuan-denominated business. Financial Secretary Paul Chan emphasized the city's commitment to high-quality development of its financial market to create new growth opportunities.
The budget includes plans for the Hong Kong Exchanges and Clearing (HKEX) to establish a "technology enterprises channel" to facilitate listings for specialist technology and biotechnology companies, particularly those already listed in mainland China. Furthermore, the government will review regulations to promote the issuance of tokenized bonds, with the Hong Kong Monetary Authority preparing its third round of such bonds. Chan projects Hong Kong will become the world's largest cross-boundary wealth-management center by 2028, noting that the city already held approximately HK$31 trillion (US$4 trillion) in assets under management at the end of 2023.
via SCMP Full Text Feed
