Hong Kong Financial Secretary: Will strengthen preparations for issuing central bank digital currency in Hong Kong at wholesale and retail levels

According to flush news, Hong Kong Financial Secretary Paul Chan said at the 2021 Caixin Summer Summit that despite the impact of social events and the epidemic, Hong Kong’s competitive advantages remain strong and international investors still have confidence in Hong Kong as an international financial center. The HKSAR government should continue to make good use of the special advantages given by one country, two systems and actively integrate into the overall development of the country. He also mentioned that the IPO is still very lively, with more than HK$180 billion of new shares listed in Hong Kong this year, a six-fold increase year-on-year, and the market will be consulted in the third quarter to consider the introduction of a Hong Kong version of SPAC. he also revealed that the study on the use of the central bank’s digital currency will be deepened. In addition to continuing trials at the cross-border trade payment level, it will strengthen preparations for the issuance of the central bank’s digital currency in Hong Kong at the wholesale and retail levels, including research into the application of Hong Kong dollar digital currency at the local retail level, and continue to work with the central bank to conduct technical tests on the use of digital RMB in Hong Kong.



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