In her speech at the annual meeting of the Hong Kong Investment Funds Association, Fung Yee Leung, CEO of the Hong Kong Securities and Futures Commission, said, "The Hong Kong Securities and Futures Commission is committed to promoting growth. We understand that investment products in the market must be innovative in order to keep pace with the times and meet the changing needs of investors. We are currently focusing on three major areas: environmental, social and governance (ESG), virtual assets, and RMB-denominated products."
Regarding the work related to virtual asset products, Leung Fung-yee said, "The demand for these products has been increasing in recent years, and we have introduced measures to encourage responsible technological innovation and support the fintech industry. We have approved the first batch of virtual asset futures ETFs, which mainly invest in virtual asset futures traded on the Chicago Mercantile Exchange, including the world's first Ethereum futures ETF and Asia's first Bitcoin futures ETF. Two weeks ago, we issued guidelines for licensed virtual asset trading platform operators. Like virtual asset futures ETFs, we have taken a number of measures to protect the interests of investors, such as setting requirements for the inclusion criteria for tokens available for retail investors to buy and sell."
In addition, although Liang Fengyi pointed out that the investment environment is still severe, she said, "We must not forget that there are opportunities in crisis. The opportunities include China's economic restart, digital transformation, the third generation of the Internet (Web3) and generative AI, which are all major opportunities to promote innovation and sustainable investment." (China Fund News)