Hong Kong will continue to promote the regulatory system for fiat currency stablecoin issuers and relax the asset appraisal requirements for inbound investors

On February 17, according to the "Hong Kong Information" report, the Secretary for Financial Services and the Treasury of Hong Kong, China, Hui Zhengyu, pointed out in his speech at the annual conference of the Asian Securities Industry and financial marekt Association that the government has gazetted a stablecoin bill last year to introduce a regulatory regime for fiat currency stablecoin issuers in Hong Kong. Hong Kong will continue to be an ideal gateway to connect the mainland's capital markets with the rest of the world, and provide international companies and investors with access to the Guangdong-Hong Kong-Macao Greater Bay Area, the mainland, and the Middle East and ASEAN. The government launched the New Capital Investor Entry Scheme (CIES) in March last year, which will further relax the asset appraisal requirements and accept investments made through qualified private companies. It will also improve the tax regime for funds and single family offices, and introduce a new change of domicile regime to attract more international companies to set up offices or change of domicile in Hong Kong.