Hong Kong Chief Executive Advocates Digital Economy Integration

According to Odaily, Hong Kong Chief Executive John Lee emphasized the importance of integrating the digital economy with the physical economy in his policy address yesterday. Lee highlighted that accelerating the development of the digital economy could expedite industrial digital transformation and enhance digital infrastructure. The government is currently exploring ways to promote a data trading ecosystem and is considering the Greater Bay Area as a pilot region to facilitate cross-border data flow arrangements. In response, Au King-lun, CEO of the Financial Services Development Council, acknowledged the crucial role of fintech in maintaining Hong Kong's global financial leadership. He expressed encouragement over the government's commitment to fully advancing the digital economy. The policy address mentioned support for the development of innovative financial services, virtual assets, and cross-border data solutions, which Au believes can meet the increasingly digital global financial demands. Additionally, the government's focus on the tokenization of real-world assets aligns with the Council's blockchain application initiatives, further strengthening Hong Kong's leadership in fintech innovation.