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STRENGTHENING HK'S GLOBAL FINANCIAL HUB STATUS

ADVANCING THE DIGITAL ASSET ECONOMY AND OPTIMIZING LISTING RULES TO FACILITATE

NEW ECONOMY LISTINGS

Platform

Digital Asset Alliance

Contact Persons

Legislative Councillor CHEN Chung Nin, Rock

Legislative Councillor WONG Ying Ho, Kennedy

Legislative Councillor WONG Chun Sek, Edmund

Legislative Councillor CHAN Yung

Legislative Councillor LEE Wai King, Starry

Legislative Councillor QUAT Elizabeth

牽頭組建跨行業聯盟，促進數字資產合作Spearheaded formation of a cross-sector alliance to advance digital asse

Spearheaded formation of a cross-sector alliance to advance digital assets collaboration

Challenges and Opportunities

Amid accelerating global digitalization, Hong Kong must seize digital economy opportunities as an international financial hub.
Global financial market volatility and geopolitical risks impede the return of China's new economy companies to Hong Kong listings.
Only 33 of roughly 300–400 overseaslisted quality enterprises have listed in Hong Kong. Investment banks estimate that 27 currently eligible returnee stocks —spanning e-commerce, fintech, biopharma, and other sectors—hold a combined market capitalization of HKD 1.4 trillion.

Key Policy Areas

Develop Fintech Web3.0:

Advance digital identity applications.
Promote HKD stablecoin issuance.
Strengthen compliant regulatory frameworks for crypto/digital assets.

- Develop Real-World Asset (RWA) tokenization-centric digital asset businesses.

-Integrate blockchain, RWA tokenization, and Web3.0 to reinforce Hong Kong’s tripartite hub status

- Enhance legislation and establish blockchain-based electronic bills of lading with mutual recognition in trade and shipping; enhance blockchain applications in trade finance, supply chain management, customs clearance, cargo tracking, ship registration, and payments. Leverage Web3.0 (especially DApps) for transparent, efficient supply chain systems.

- Release comprehensive digital asset development blueprint with supportive legislation for industry growth

- Enact laws to implement an expanded licensing regime for crypto-fiat exchanges.

Optimize Listing Rules for new economy companies:

Review the market capitalization and revenue requirements for WVR (Weighted Voting Rights) companies, proposing to lower the market cap threshold to HK$20 billion and introduce a three-year average market cap calculation method to enhance flexibility and facilitate listings.
Allow overseas-listed companies to retain existing WVR structures under more flexible criteria and gradually align voting rights structures with Hong Kong's listing requirements within designated grace periods.

舉辦推動數字資產聯盟研討會推動香港Web3發展 Hosted the Advancing Digital Assets Alliance Symposium to propel

Hosted the Advancing Digital Assets Alliance Symposium to propel Hong Kong's Web3 development

開會推動中概股回流，以提升香港資本市場競爭力，鞏固國際金融中心地位 Held talks on U.S.-listed Chinese companies' relisting t

Held a meeting to propose measures promoting the return of Chinese overseas-listed companies, aiming to enhance Hong Kong's capital market competitiveness and consolidate its international finacial hub status

Anticipated Results

Establish a "Digital Asset Alliance" cofounded by the DAB, China Merchants Financial Holdings, Hong Kong Web 3.0 Association, University of Hong Kong, Hang Seng University of Hong Kong, Hong Kong Digital Asset Society, and HashKey Group. This coalition aims to build a digital asset ecosystem, integrate and share resources, and support stablecoin ventures establishing operations in Hong Kong.
Host financial industry consultative meetings to examine Hong Kong’s current status, challenges, and opportunities. Provide multifaceted expert recommendations for financial sector development and budget proposals from investment, academic, and innovation perspectives.
Advocate for government development of a comprehensive digital asset roadmap with supportive legislation to foster industry growth.
Unlock capital market opportunities:

- Optimize market structure.

- Enhance Hong Kong stock market diversity.

- Boost liquidity.

- Attract domestic/overseas capital inflows.

- Elevate Hong Kong stock market activity and valuation.

Further optimization of the Listing Rules will facilitate new economy enterprises listing in Hong Kong, enhancing its standing as a financial centre. Investors will gain broader access to innovative firms, stimulating economic growth and market vitality.