Hong Kong will continue to promote the regulatory system for issuers of fiat stablecoins and relax asset assessment requirements for inbound investors

On February 17th, according to "Hong Kong Information", the Secretary for Financial Services and the Treasury of Hong Kong, Christopher Hui, pointed out in his speech at the annual conference of the Asian Securities Industry and Financial Markets Association that the government had already gazetted the draft regulation on stablecoins last year, in order to introduce a regulatory system for issuers of fiat currency stablecoins in Hong Kong. Hong Kong will continue to be an ideal gateway connecting the mainland capital market with other regions of the world, providing international companies and investors with a preferred platform to access investment opportunities in the Greater Bay Area, mainland China, as well as the Middle East and ASEAN. The government launched the new Capital Investment Entrant Scheme (CIES) in March last year, which will further relax the asset assessment requirements and accept investments made through qualified private companies. It will also optimize the tax regime for funds and single family offices, and introduce a new company re-domiciliation regime to attract more international companies to establish offices or re-domicile in Hong Kong.