Latest news with #JuliaLeung
Arabian Post
2 days ago
- Business
- Arabian Post
Hong Kong Unveils Bold 'LEAP' Blueprint for Crypto Leadership
Hong Kong's government on 26 June issued its Policy Statement 2.0 on the development of digital assets, signalling a decisive push to position the city at the forefront of the global crypto landscape. The statement introduces the comprehensive 'LEAP' framework—Legal, Expand, Advance, People—underlining a mission to develop a trusted, innovative, and deeply integrated ecosystem for digital assets. The regulatory reforms assign explicit oversight roles: the Securities and Futures Commission will licence digital asset exchanges, custodial and dealing services, while the Hong Kong Monetary Authority will govern bank-related activities in the sector. In addition, licensing regimes for stablecoin issuers and custodians are scheduled to commence on 1 August 2025, designed to strengthen anti‑money‑laundering safeguards, investor protection, and transparency in stablecoin issuance. Central to Policy 2.0 is a commitment to tokenisation of traditional financial instruments and real‑world assets. The government will regularise issuance of tokenised government bonds, streamline stamp‑duty treatment for tokenised ETFs, and legislate to support tokenisation of assets such as precious and non‑ferrous metals, and renewable energy products. These bids aim to boost liquidity and broaden market access, aligning with existing initiatives such as the HK$6.8 billion in green bond token issuances since 2022. ADVERTISEMENT Stablecoins also feature prominently, with proposals to pilot licensed stablecoins in public sector uses. Market consultation is seeking input on integrating these instruments into government operations and cross‑border payments, underpinned by stricter regulatory clarity. Tax incentives for private investment vehicles and family offices trading digital asset securities are expected in the 2025–26 fiscal year, aligning digital and traditional financial regimes. International alignment is embedded in the blueprint. Hong Kong's framework adheres to global standards—covering anti‑money‑laundering as per FATF, Basel Committee prudential supervision, IOSCO's policy recommendations, and OECD crypto‑asset tax transparency measures. Complementary pilot schemes include HKMA's 'Project Ensemble' wholesale central bank digital currency trials, LME‑backed tokenisation of metal assets in Hong Kong warehouses, and a Cyberport‑sponsored incubator scheme to finance blockchain startups. Since unveiling its original 2022 policy, the government has approved licences for over a dozen digital asset platforms, including nine trading licences and OTC frameworks, and supported tokenised bond issues by both government and corporate entities. Financial Secretary Paul Chan and SFC chief Julia Leung emphasise that this next phase marks a departure from pilot testing, transitioning toward institutionalisation and global competitiveness. Industry leaders responded positively. Legal and compliance expert Cora Ang described the framework as 'a strategic win' that aligns regulatory clarity with stablecoin and tokenisation growth. HashKey CEO Xiao Feng noted the city is entering a 'new stage of maturity', transitioning from sandbox environments to a substantive digital assets regime. Historical drivers such as the JPEX OTC fraud prompted regulators to enforce tighter custody and trading separation to protect investors. Notably, fintech legal advisers in Hong Kong report surging demand. Firms are actively supporting issuance of tokenised gold and digital bonds, as banks like Bank of Communications and Zhuhai Huafa Group deploy digital debt instruments via licensed platforms. Meanwhile, legal specialists continue to advocate for derivatives, margin‑lending, and institutional frameworks targeted at professional investors. Hong Kong's strategic deployment of Policy 2.0 underlines a competitive counterbalance to rival jurisdictions such as Singapore, Dubai, and the US, each advancing their own crypto regulatory frameworks. The city's alignment with global financial standards—alongside tailored incentives and public‑sector engagement—signals a comprehensive, forward‑leaning posture in digital asset finance.
South China Morning Post
16-06-2025
- Business
- South China Morning Post
Singapore-incorporated coconut water firm gets closer to cracking Hong Kong's IPO market
IFBH, the world's second-largest producer of coconut water by sales, moved closer to listing its shares in Hong Kong as it bets on the city's robust initial public offering (IPO) market and proximity to mainland China to fuel its global expansion. On Sunday, the Thai drink maker cleared a major regulatory hurdle with the publication of its Post Hearing Information Pack by the Hong Kong stock exchange. IFBH had planned to list in Singapore, where it is incorporated, but withdrew its IPO plans in July 2024, citing a desire to 'focus its resources on the [Hong Kong] stock exchange' and take advantage of the city's strong investment connectivity with mainland China. One key link is the Stock Connect programme, a conduit through which international investors can access China's onshore stock market, while their counterparts on the mainland trade Hong Kong-listed equities. On Friday, Julia Leung Fung-yee, CEO of the Securities and Futures Commission , said financial authorities planned by the end of the year to include a yuan counter in the southbound channel of the Stock Connect, allowing mainland investors to buy and sell Hong Kong stocks with the Chinese currency. 'We aim to solidify our market penetration and presence in China, while extending our reach into Australia, the Americas and Southeast Asia,' IFBH said. Last year, the company commanded a 34 per cent share of the coconut-water market in mainland China as well as a 60 per cent share in Hong Kong.
South China Morning Post
13-06-2025
- Business
- South China Morning Post
SFC CEO Leung: virtual assets have become a tool ‘in the race for financial supremacy'
Hong Kong's securities watchdog is expanding its regulatory oversight over virtual assets in an effort to distinguish the city as a global financial hub, said Julia Leung Fung-yee, CEO of the Securities and Futures Commission (SFC). 'Virtual assets have become a tool in the race for financial supremacy,' Leung told an audience of journalists, investors and government officials at the Caixin Summer Summit in Hong Kong on Friday. 'Beyond the trading platforms we've already licensed, our next step is to bring over-the-counter (OTC) trading and custodial institutions into our regulatory perimeter,' she added. As of January, Hong Kong had granted licences to nine virtual asset trading platforms and regulators were now turning their attention to stablecoins. A new law will take effect on August 1 requiring all stablecoin issuers to obtain a licence from the Hong Kong Monetary Authority. Last year, the Financial Services and the Treasury Bureau published proposals for licensing OTC virtual asset operators. Leung said the SFC's approach to virtual assets was the same as with traditional securities. 'A virtual asset exchange is, at its heart, an exchange for trading – and it also functions as a broker,' she said. 'That's why we require all platforms and brokers under our supervision to segregate client assets, maintain transparency, manage conflicts of interest and handle all related matters appropriately.'
The Standard
29-05-2025
- Business
- The Standard
SFC and Saudi counterpart agree to enhance regulatory cooperation
The SFC's CEO Julia Leung (left) met with the CMA's Board Commissioner Abdulaziz Bin Hassan (right) in Hong Kong. SFC
Leaders
29-05-2025
- Business
- Leaders
Saudi Arabia, Hong Kong Boost Cross-Border Financial Ties
Saudi Arabia and Hong Kong may soon approve additional cross-border financial products. On Thursday, an exchange-traded fund tracking Saudi government bonds began trading in Hong Kong. This marks the first fixed-income fund in the territory to provide such exposure. Authorities from both regions announced plans to deepen financial ties amid growing trade uncertainties. The newly launched exchange-traded fund represents a significant milestone in Hong Kong's financial market. Julia Leung, CEO of Hong Kong's Securities and Futures Commission, highlighted more products in development. These include a sharia-compliant Sukuk bond and a real estate investment trust. Leung expressed confidence in the cross-listing of various financial products during the Capital Markets Forum. Hong Kong introduced Asia's first ETF tracking Saudi equities in November 2024. This initiative aims to boost capital flows as diplomatic relations between Beijing and Riyadh strengthen. Over recent years, Hong Kong has actively pursued a listing for Saudi Aramco. Such a listing would provide investors in the Asian financial hub with easier access to the Saudi state oil giant. Broadening Financial Ties Amid Global Trade Tensions Hong Kong's Financial Secretary Paul Chan emphasized opportunities beyond stocks at the forum. He noted potential for bonds, derivatives, and other financial products between Hong Kong and the Middle East. This expansion of cross-border products comes amid rising trade tensions. In April, U.S. President Donald Trump imposed sweeping tariff measures, disrupting global markets. A U.S. trade court recently blocked these tariffs from taking effect. The court ruled that the president overstepped his authority by imposing broad duties on imports. When asked about navigating trade deal uncertainties, Chan remarked that the court's move would 'at least bring President Trump to reason.' Strengthening Economic Partnerships The collaboration between Hong Kong and Saudi Arabia signifies a strategic effort to enhance financial integration. By introducing innovative financial products, both markets aim to attract diverse investment opportunities. This partnership not only strengthens bilateral economic ties but also positions both regions as key players in the global financial arena. As global trade dynamics continue to evolve, the proactive measures taken by Hong Kong and Saudi Arabia set a precedent. These initiatives demonstrate a commitment to fostering economic resilience and growth. Investors and market participants can look forward to a broader range of financial instruments. These developments will undoubtedly contribute to the overall stability and prosperity of the global financial landscape. Short link : Post Views: 16
