Hong Kong NPC deputy: Stablecoins, virtual assets and other emerging financial products should be developed with caution.

Hong Kong Legislative Council President and NPC Standing Committee member Starry Lee expressed her full support for Hong Kong's first five-year plan. NPC Deputy Chan Chun-ying pointed out that the development of emerging financial products such as stablecoins and virtual assets should be approached cautiously. Many financial institutions, including banks, securities firms, and insurance companies, have already used artificial intelligence, and the use of AI needs better regulation, including stricter oversight, to ensure Hong Kong's financial security and prevent any problems. Furthermore, Legislative Council member Wu Jiezhuang stated that the 15th Five-Year Plan represents the direction of national development for the next five years and beyond. In this new phase, Hong Kong should fully leverage its advantages, focus on building "four centers and one high ground," consolidate and enhance its position as an international financial, shipping, and trade center, and strive to become an international innovation and technology center. Hong Kong is currently the world's third-ranked international financial center, but it definitely has the opportunity to go further and become the second. (Hong Kong Economic Journal)