Hong Kong Legislative Council Releases 2025 Financial Center Report

According to Odaily, the Hong Kong Legislative Council has released its first special bulletin for 2025 titled "Consolidating Hong Kong's Position as an International Financial Center." This bulletin is part of a new service launched by the Legislative Council Secretariat's Parliamentary Affairs Department in December 2024. The latest bulletin indicates that the Legislative Council's Bills Committee is thoroughly reviewing the "2024 Companies (Amendment) (No. 2) Bill" and the "Stablecoin Bill." These bills aim to facilitate the relocation of overseas-registered companies to Hong Kong and introduce a licensing system for fiat-backed stablecoin issuers. To advance financial technology, the Legislative Council's House Committee has established a subcommittee to examine the application and development of Web3 and virtual asset technologies in Hong Kong and to propose relevant regulations and policies.