Xu Zhengyu: Gold can become a bridge between traditional and new finance

According to the South China Morning Post, Hong Kong's Secretary for Financial Services and the Treasury, Eddie Hui, stated at the Global Prosperity Summit that gold can serve as a "bridge" connecting traditional and new finance, and promote the development of the digital asset market through blockchain technology. He mentioned that Hong Kong does not have an independent digital asset regulatory agency, aiming to promote the coordinated development of traditional and innovative finance through a unified regulatory system. HSBC and Hang Seng Investment Trust have launched the tokenized unlisted category of Hang Seng Gold ETF on HashKey Exchange. Hong Kong is advancing the trial operation of the Central Clearing System for Gold, with plans to increase gold storage capacity by over 10 times and expand digital asset regulation to stablecoins, tokenization, and Web3 infrastructure.