Hong Kong Treasury Bureau: Promote the application and innovation of virtual assets and Web3.0 fields related to the real economy, and further improve the regulatory framework

The Financial Services and the Treasury Bureau of Hong Kong announced the "Three Major Measures to Link Financial Technology to Benefit the Development of the Real Economy", including establishing a new comprehensive fund platform for retail fund distribution, welcoming the cross-border use of digital renminbi, and promoting the integration of virtual assets and Web3.0 fields. real economy-related applications and innovations, and further improve the regulatory structure. Regarding the third measure, the document supports that by providing appropriate guidance and support through policies and a comprehensive regulatory framework, the government encourages market participants to explore the potential of Web 3.0 underlying technologies to empower applications and innovations related to the real economy, providing real The economy brings practical benefits, such as reducing costs, improving efficiency, and better serving market investment and financing needs. In terms of supervision, the focus is to keep pace with the times and further improve the regulatory structure based on the latest developments in the market.