The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

The Hong Kong Monetary Authority (HKMA) released the Fintech 2025 Strategy today (8th), hoping to complete Hong Kong’s Fintech transformation by 2025. In his opening speech at the Fintech seminar organized by the Hong Kong Association of Banks, the Chief Executive of the Hong Kong Monetary Authority, Eddie Yue, spoke freely about the ideals of the Fintech strategy, and hoped that it would benefit the people of Hong Kong and the overall economy.

The HKMA Fintech 2025 strategy announced this time is divided into five major policy directions, namely comprehensively promoting bank digitalization, deepening central bank digital currency research, unleashing the potential of data infrastructure, expanding the financial technology talent pool, and making good use of resource policies to support development. .

In terms of promoting bank digitalization, the Hong Kong Monetary Authority reiterated the smart banking new era strategy announced in 2017 and will launch a Fintech application assessment to review the adoption of Fintech within Hong Kong banks. The Monetary Authority will also continue to issue more regulatory guidance. , to facilitate banks’ transformation and innovation in technology.

In terms of digital currency, the Hong Kong Monetary Authority announced that it will develop relevant policies for the issuance of central bank digital currency (CBDC).

"The HKMA is collaborating with the Hong Kong Center of the Bank for International Settlements Innovation Center to study CBDC at the retail level. It will later start studying a local retail digital Hong Kong dollar (e-HKD) to explore its uses, advantages and related risks. HKMA We will also continue to cooperate with the People’s Bank of China to conduct technical testing of digital renminbi (e-CYN) in Hong Kong to provide convenient cross-border payment services for residents of Hong Kong and mainland China.”

Hong Kong Monetary Authority President Yu Weiman also said at the seminar that the digital Hong Kong dollar is still in the research stage. It is too early to say whether it will be officially issued and whether it will affect the note-issuing rights of note-issuing banks.

As for data infrastructure, fintech talent pool, and resource policies, the Hong Kong Monetary Authority stated that it will establish a commercial data link, an enterprise version of smart convenience and a blockchain shared credit information platform. Academically, it will implement the fintech pioneer network plan and combine the industry demand and academic talents, and the Hong Kong Monetary Authority will establish a cross-sector coordination group on financial technology to plan future financial technology policies.

During the meeting, Mr. Yu Weiman also said that the Hong Kong Monetary Authority firmly believes that in the post-epidemic era, the development of financial technology will be the main source of driving force for the growth of the financial industry. This is the best time to increase the intensity of developing financial technology. Hong Kong should fully seize this opportunity.

"Fintech 2025 just expounds the development vision of the Hong Kong Monetary Authority. I hereby call on all investors to join hands with the Hong Kong Monetary Authority to jointly push Hong Kong's financial technology ecosystem to another peak."

Standards on CBDC of various countries

With the booming development of the cryptocurrency market, blockchain technology and the issuance of CBDC have recently received more and more attention from countries. In addition to the two major international powers China and the United States, according to previous reports, the European Central Bank also released a plan to promote digital wallets this week, which is considered to pave the way for the implementation of a digital euro in the future. Russia has also reported that it is actively promoting a digital ruble and wants to launch a digital ruble as soon as possible. Achieve de-dollarization and counter U.S. economic sanctions.

In the recent communiqué of the finance ministers and central bank governors of the Organization of Seven Major Industrial Countries (G7), issues related to CBDC were discussed. The heads of state unanimously pointed out that CBDC is still in the exploratory stage, and the countries at the meeting also reached a consensus that CBDC It can be used as a liquid and safe settlement asset and as an anchor point for the payment system.

“Our aim is to ensure that CBDCs are underpinned by the public sector’s long-term commitment to transparency, the rule of law and sound economic governance. CBDCs should be resilient and energy-efficient; support innovation, competition, inclusion and can enhance cross-border payments; they should be implemented where appropriate operating within a privacy framework and minimizing overflow.”