Hong Kong Treasury Bureau: Promote the application and innovation of virtual assets and Web3.0 fields related to the real economy, and further improv

Hong Kong's Financial Affairs and Treasury Bureau announced the "Three Major Measures for Linking Financial Technology to Benefit the Development of the Real Economy," including the establishment of a new comprehensive fund platform for retail fund distribution, welcoming the cross-border use of digital RMB, promoting virtual assets and Web3.0-related applications and innovations in the real economy, and further improving the regulatory framework. Regarding the third measure, the document supports providing appropriate guidance and support through policies and a comprehensive regulatory framework. The government encourages market participants to explore the potential of Web3.0 underlying technologies to empower applications and innovations related to the real economy, bringing tangible benefits to the real economy, such as reducing costs, improving efficiency, and better serving the needs of the market for investment and financing. In terms of regulation, the focus is on keeping up with the latest market developments and further improving the regulatory framework.