Hong Kong’s
Securities and Futures Fee (SFC) has unveiled its Strategic Priorities
for 2024-2026, specializing in elevating the town’s standing within the world monetary
panorama. The will to tokenize conventional property is among the many
proposals.
The
regulator highlighted 4 key areas of focus: sustaining market resilience,
enhancing Hong Kong’s world capital market enchantment, main monetary
innovation, and boosting institutional resilience and effectivity.
SFC to Bolster Market
Resilience
The SFC
goals to fortify the town’s monetary market foundations to help sustainable
development. This entails addressing rising dangers, shoring up threat administration
capabilities amongst market infrastructure and intermediaries, and enhancing
enforcement instruments to uncover misconduct.
“With
this roadmap, the Fee is now higher positioned than ever to reply robustly
and creatively to new regulatory challenges at dwelling and overseas and to form
market developments,” mentioned Tim Lui, the Chairman of the SFC.
Supply: SFC
Boosting World
Competitiveness
Hong Kong
can even give attention to leveraging mainland China ties and abroad networks to
broaden its investor base. The town goals to reinforce its IPO fundraising
capabilities and enhance market liquidity.
“In
explicit, we’re dedicated to taking part in an much more lively half in additional
strengthening Hong Kong’s distinctive position as a gateway to the Mainland and
positioning the town as an offshore hub for RMB companies and threat administration ,
in addition to supporting nationwide improvement and safeguarding monetary safety,”
Lui added.
Embracing Innovation and
Tokenization
The
regulator additionally seems to advance Hong Kong’s place in areas like digital
property, tokenization, and sustainable finance whereas guaranteeing investor
safety towards threats like greenwashing.
In accordance
to the report hooked up
to the assertion, the SFC goals to “advance the regulatory regime for
digital asset buying and selling platforms by offering regulatory steering to new digital
asset actions” whereas concurrently increasing the scope of tokenization
of conventional merchandise, which is anticipated to reinforce investor safety.
Supply: SFC
That is one other step in the direction of higher oversight of the cryptocurrency trade, after the SFC said in October that it will supervise digital token buying and selling platforms along with native police.
Enhancing Institutional
Resilience
Lastly,
the SFC goals to pursue higher operational effectivity, step up cyber resilience
and guarantee sufficient monetary sources to uphold its position as essential
infrastructure.
“The
Fee can be on a stronger footing to maintain traders out of hurt’s means,”
mentioned Julia Leung, the Chief Govt Officer on the SFC. “We wish to carry
wrongdoers to justice when monetary crimes these days are available in any form and
type, in addition to to carry the complete vary of sources and instruments at its disposal
to attain constructive regulatory outcomes.”
The most recent
technique outlines the Fee’s method to navigating the evolving
monetary panorama, underscoring its dedication to sustaining Hong Kong’s
place as a premier world monetary heart.
Hong Kong’s
Securities and Futures Fee (SFC) has unveiled its Strategic Priorities
for 2024-2026, specializing in elevating the town’s standing within the world monetary
panorama. The will to tokenize conventional property is among the many
proposals.
The
regulator highlighted 4 key areas of focus: sustaining market resilience,
enhancing Hong Kong’s world capital market enchantment, main monetary
innovation, and boosting institutional resilience and effectivity.
SFC to Bolster Market
Resilience
The SFC
goals to fortify the town’s monetary market foundations to help sustainable
development. This entails addressing rising dangers, shoring up threat administration
capabilities amongst market infrastructure and intermediaries, and enhancing
enforcement instruments to uncover misconduct.
“With
this roadmap, the Fee is now higher positioned than ever to reply robustly
and creatively to new regulatory challenges at dwelling and overseas and to form
market developments,” mentioned Tim Lui, the Chairman of the SFC.
Supply: SFC
Boosting World
Competitiveness
Hong Kong
can even give attention to leveraging mainland China ties and abroad networks to
broaden its investor base. The town goals to reinforce its IPO fundraising
capabilities and enhance market liquidity.
“In
explicit, we’re dedicated to taking part in an much more lively half in additional
strengthening Hong Kong’s distinctive position as a gateway to the Mainland and
positioning the town as an offshore hub for RMB companies and threat administration ,
in addition to supporting nationwide improvement and safeguarding monetary safety,”
Lui added.
Embracing Innovation and
Tokenization
The
regulator additionally seems to advance Hong Kong’s place in areas like digital
property, tokenization, and sustainable finance whereas guaranteeing investor
safety towards threats like greenwashing.
In accordance
to the report hooked up
to the assertion, the SFC goals to “advance the regulatory regime for
digital asset buying and selling platforms by offering regulatory steering to new digital
asset actions” whereas concurrently increasing the scope of tokenization
of conventional merchandise, which is anticipated to reinforce investor safety.
Supply: SFC
That is one other step in the direction of higher oversight of the cryptocurrency trade, after the SFC said in October that it will supervise digital token buying and selling platforms along with native police.
Enhancing Institutional
Resilience
Lastly,
the SFC goals to pursue higher operational effectivity, step up cyber resilience
and guarantee sufficient monetary sources to uphold its position as essential
infrastructure.
“The
Fee can be on a stronger footing to maintain traders out of hurt’s means,”
mentioned Julia Leung, the Chief Govt Officer on the SFC. “We wish to carry
wrongdoers to justice when monetary crimes these days are available in any form and
type, in addition to to carry the complete vary of sources and instruments at its disposal
to attain constructive regulatory outcomes.”
The most recent
technique outlines the Fee’s method to navigating the evolving
monetary panorama, underscoring its dedication to sustaining Hong Kong’s
place as a premier world monetary heart.
