Hong Kong Treasury Secretary: Pilot Tokenization of Exchange Fund Bills Before End of 2026

Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, stated at a press conference on the financial development measures of the Hong Kong SAR's first five-year plan for economic and social development and the Chief Executive's 2026 Policy Address that digital assets and fintech are new growth engines for Hong Kong. Digital bonds issued in Hong Kong account for approximately 50% of the global share. The tokenization of Exchange Fund Bills will be piloted before the end of 2026, and the Central Moneymarkets Unit (CMU) will establish a digital asset platform within 2026 to provide one-stop services including digital bond issuance and settlement.In terms of regulation and market development, measures include improving the virtual asset licensing regime, enhancing the regulatory framework for tokenized investment products, promoting the trading of regulated stablecoins on licensed platforms, and encouraging the expansion of application scenarios for compliant stablecoins.