Hong Kong lawmaker calls for accelerating digital currency development

According to Adili, a member of the Hong Kong Legislative Council, Yan Gang, stressed the importance of accelerating the development of the digital Hong Kong dollar to diversify financial products and enhance market influence. He pointed out that the digital currency is compatible with the digitization of finance and has the potential to drive innovation in the financial technology sector. By creating a more efficient financial and payments infrastructure, digital currency can improve the efficiency and suitability of the financial industry. The development of digital currency in Hong Kong could also attract more fintech and blockchain-related companies to the region, further cementing Hong Kong as a fintech innovation hub. This will enhance the technological content of Hong Kong's international financial center and raise its profile globally. Yan Gang suggested that the government should learn from the experience of mainland China and closely cooperate with relevant mainland entities to accelerate the progress of the digital Hong Kong dollar and actively explore the progress of the digital currency economy.