Golden Finance reported that Hong Kong Treasury Secretary Paul Hui published a blog in which he mentioned that he had introduced to local regulators and the financial industry in Europe how Hong Kong, as a pioneer in embracing the development of Web3.0, promoted market development from multiple aspects such as regulation, product innovation and government financing. In terms of regulation, Hong Kong implemented the licensing system for virtual asset trading platforms in June last year and is formulating other licensing regulations for virtual asset businesses; in terms of product innovation, the first six virtual asset ETFs in Asia have been listed and pioneered the physical subscription and redemption mechanism; in terms of government bond financing, the SAR government led the world in issuing two batches of tokenized green bonds. The second batch of multi-currency (HKD, RMB, EUR and USD) bonds totaled US$770 million, which is the world's first batch of multi-currency government green bonds issued in a digital native form. Paul Hui also said that he will further communicate with important financial technology stakeholders at the Hong Kong Web3 flagship event in October this year to expand cooperation space at the international level.

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