CoinVoice has recently learned that, according to a press release from the Hong Kong government, the Financial Secretary of Hong Kong, Paul Chan, stated today at an event: 'As of the end of March this year, the number of registered funds in Hong Kong reached 976, with a net inflow of over 44 billion US dollars year-on-year, a growth of 285%. Family offices are expected to increase from 2,700 to 3,000 soon, and Hong Kong will become the world's leading cross-border asset management center in two to three years.'
In terms of financial innovation, there has recently been a strong market interest in digital assets, particularly the issuance of stablecoins, which has sparked lively discussions. The legislative work on stablecoins has made Hong Kong one of the first jurisdictions in the world to establish a regulatory framework for stablecoins. We embrace the development of digital assets and have accelerated the improvement of the relevant legal regulatory framework in recent years, such as the licensing system for virtual asset trading platforms, with 10 licenses issued and another eight applications currently under review.