Hong Kong delegate Chen Zhenying: We should cautiously develop stablecoins, virtual assets, and other emerging financial products

By: rootdata|2026/03/08 10:44:44
0
Share
copy

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.

-- Price

--

You may also like

From Cash to Cryptocurrency: Moving Towards a Unified Regulatory Path for Illegal Payments

By establishing a framework based on the principle of "general law" and broadly defining the function of "payment tools," future innovations can be automatically included in the regulatory perspective, thereby breaking the passive cycle of "innovation-regulation-re-innovation-re-regulation" and guid...

Who will own the most Bitcoin in 2026

In this article, we will examine some individuals, companies, and wallets that have become crypto whales based on on-chain data and their own public statements, and investigate the amount of Bitcoin they hold.

A private feud lasting 10 years, if not for OpenAI's "hypocrisy," would not have led to the world's strongest AI company, Anthropic

What shapes the global AI landscape is not only the competition of technological routes but also a personal trauma that has never healed.

"Crypto Tsar" steps down: 130 days of political performance come to an end, how much of Trump's crypto promise remains?

The encryption czar has left, and Trump has muted.

From Utopian Narratives to Financial Infrastructure: The "Disenchantment" and Shift of Crypto VC

Financial infrastructure is the real reason that attracts venture capital investment in the cryptocurrency field.

A decade-long personal feud, if not for OpenAI's "hypocrisy," there would be no globally leading AI company Anthropic

Shaping the global AI landscape is not just a battle of technical paths, but also a wound of private trauma that has never healed

Popular coins

Latest Crypto News

Read more