[Hong Kong government fully promotes financial innovations such as DeFi] At the 2024 Caixin Summer Summit, the Acting Financial Secretary of the Hong Kong Special Administrative Region Government, Michael Wong, said that Hong Kong will fully promote financial innovation, with key areas including financial technology, green finance, Web3 (third-generation Internet)-related DeFi (decentralized finance), virtual assets, etc. Michael Wong emphasized that the SAR government will ensure that financial risks are stable at a controllable level, while continuing to expand the interconnection between Hong Kong and mainland China's financial markets. This shows the Hong Kong government's positive attitude towards financial innovation and its emphasis on blockchain technology and virtual assets.