Christopher Hui, Secretary for Financial Services and the Treasury of Hong Kong, stated at the press conference on the first five-year plan and financial development measures of the 2026 Policy Address that digital assets and fintech serve as Hong Kong’s new growth engine. Digital bonds issued in Hong Kong account for around 50% of the global market share. Hong Kong will launch a pilot for tokenization of Exchange Fund Bills before the end of 2026. CMU will establish a digital asset platform within this year to provide one-stop services including digital bond issuance and settlement. In terms of regulation and market development, Hong Kong will refine the licensing regime for virtual assets and the regulatory framework for tokenized investment products, promote trading of regulated stablecoins on licensed platforms, and encourage the expansion of application scenarios for compliant stablecoins.