Hong Kong officials respond to "Middle Eastern funds flowing in": mutual two-way exchanges, tokenized funds have already launched on Middle Eastern wealth management platforms

Odaily Planet Daily News: In response to the increasingly heated topic of “Middle Eastern funds flowing into Hong Kong” in Hong Kong, Deputy Director of the Financial Services and the Treasury Bureau of the Hong Kong SAR Government, Chen Haolian, stated that there are indeed more clients inquiring about how to transfer funds to Hong Kong or open accounts there. He also mentioned that Hong Kong and the Middle East have a two-way exchange. He revealed that a licensed virtual insurance company in Hong Kong has expanded its business in Saudi Arabia and the United Arab Emirates. Hong Kong’s tokenized funds have been launched on Middle Eastern wealth management platforms, and Asian funds can purchase Islamic bonds ETF in Hong Kong, providing Middle Eastern investors with a familiar and trustworthy market. Chen Haolian emphasized that the Hong Kong government will actively develop financial technology and digital assets. Currently, legislation proposals are being drafted regarding licensing systems for digital asset trading and custody services. (Hong Kong Commercial Daily)