According to PANews, Hong Kong Legislative Council member Tan Yueheng, along with other G19 legislators, has submitted a proposal to Chief Executive John Lee for the 2024 Policy Address. Tan emphasized the importance of leveraging technology to advance new financial sectors. Key suggestions include attracting fintech companies to participate in a stablecoin sandbox mechanism, expanding the testing scope of the digital yuan as a cross-border payment tool, and promoting the development of regulated virtual asset trading platforms and products.
Tan also proposed enhancing connectivity and increasing capacity, accelerating the process of the Stock Connect program, and allowing qualified mainland investors to subscribe to Hong Kong IPOs. These initiatives aim to foster innovation and integration within the financial industry, positioning Hong Kong as a leading hub for fintech and digital finance.