Hong Kong officials respond to "influx of Middle Eastern funds": mutual two-way communication, Hong Kong's tokenized funds have already landed on Middle Eastern platforms

According to the Hong Kong Commercial Daily, in response to the increasingly heated topic of "Middle Eastern funds flowing in" to Hong Kong, the Deputy Secretary for Financial Services and the Treasury, Chen Haolian, stated that there are indeed more clients inquiring about how to transfer funds to Hong Kong or open accounts in Hong Kong, and that there is a two-way exchange between Hong Kong and the Middle East.

He revealed that a licensed virtual insurance company in Hong Kong has expanded its business in Saudi Arabia and the UAE, and that tokenized funds from Hong Kong have landed on Middle Eastern wealth management platforms. Additionally, Asian funds can purchase Islamic bond ETFs in Hong Kong, providing Middle Eastern investors with a familiar and trustworthy market.

Chen Haolian emphasized that the Hong Kong government will actively develop financial technology and digital assets, and is currently formulating legislative proposals for the licensing system of digital asset trading and custody services, aiming to establish a complete regulatory framework to develop Hong Kong into a global hub for digital asset innovation.