Hong Kong delegate Chen Zhenying: We should cautiously develop stablecoins, virtual assets, and other emerging financial products
According to the Hong Kong media Xin Bao, the Chairman of the Hong Kong Legislative Council, Li Huiqiong, stated that she will fully support and cooperate with the city's first five-year plan. Hong Kong representative to the National People's Congress, Chen Zhenying, pointed out that the development of stablecoins, virtual assets, and other emerging financial products should be approached with caution. Many financial institutions, including banks, securities firms, and insurance companies, are already using artificial intelligence, and there is a need for better regulation of AI usage to ensure the safety of Hong Kong's financial sector and to prevent any issues.
In addition, Legislative Council Election Committee member Wu Jiezhuang stated that the "14th 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 to effectively build "four centers and one high ground," consolidating and enhancing Hong Kong's status as an international financial, shipping, and trade center, while fully developing an international innovation and technology center. Hong Kong is currently ranked as the third international financial center globally, but there is definitely an opportunity to advance further and become the second in the world.
You may also like

AI Starts to Devour the Manufacturing Industry | Rewire News Morning Edition

When Scaling Meets Speed, Ethereum Foundation Introduces "Hardness" to Safeguard the Base Layer

Google, Circle, Stripe Flock Together to Let AI Spend Money: Payment Giants' Joys and Worries in 2026 Q1

$100 Billion Factory Purchase: Bezos and Middle Eastern Capital Shift AI Money from Cloud to Shop Floor

Xiaomi and MiniMax both unleash their ultimate moves, signaling the start of the Agent Pricing War.

Predicting markets has taken the spotlight, but the Perp DEX has been quietly waging war on traditional exchanges.

Is the Market Slump Still Making Millions a Day? Is pump.fun's Revenue Real?

Understanding x402 and MPP in One Article: The Two Paths of Agent Payments

Quick Look at the Latest 18 Graduation Projects from Alliance: Who's the Next Pump.fun?

It's not just the prediction market that profits from the Iraq War

The "bank card" of AI has caught the attention of the giants

Morning News | U.S. SEC approves tokenized trading on Nasdaq; Animoca Brands announces investment in AVAX tokens; Algorand Foundation completes strategic integration

$70 trillion wealth transfer, the financial gateway is being rewritten | Interview with Robinhood CEO Vlad Tenev

Whale Opens 20x Oil Short on Hyperliquid With 5.6M USDC at Risk
Key Takeaways A significant leveraged short position on crude oil has been initiated on Hyperliquid using 5.6 million…

Bitcoin: The Ultimate Hedge Against Chaos
Key Takeaways Michael Saylor, co-founder of Strategy, firmly believes Bitcoin is the ultimate hedge against macroeconomic chaos. Strategy…

“Set 10 Major Targets First,” Whale Reopens Long Positions in Bitcoin
Key Takeaways A prominent cryptocurrency whale known as @Jason60704294 has reopened a long position in Bitcoin. The whale…

Analysis: Despite Bitcoin’s Price Dip, Bullish Trends Persist
Key Takeaways Despite Bitcoin’s decline below $71,000, its bullish momentum remains strong, with significant buying activity from ETFs…

DeFi Protocol Neutrl Faces Potential Security Breach
Key Takeaways The DeFi protocol Neutrl has reported a suspected attack on its front-end interface, urging users to…