Hong Kong Urged to Expand Virtual Asset Derivatives for Stronger Market Growth
Key Points: Li Weihong urges Hong Kong to open more virtual asset derivatives and expand futures markets to strengthen its position as an international risk management center. Proposes extended trading hours for the Futures Exchange and faster license approvals to boost market efficiency and attract global investors. Suggests accelerating Hong Kong’s international gold trading center and joining RCEP for zero-tariff exports of gold and precious metals. According to Ming Pao, the Hong Kong government is set to announce a new Budget at the end of this month. Hong Kong Legislator Pushes for Virtual Asset Expansion Legislative Council member Li Weihong (Financial Services) has gathered industry feedback and submitted proposals to Financial Secretary Paul Chan, focusing on strengthening Hong Kong’s financial markets. Li Weihong emphasized the need to expand virtual asset derivatives and futures markets, urging the government to accelerate license approvals and allow 23-hour trading on the Futures Exchange. He also proposed adding more futures products for holiday trading and introducing a broader range of virtual asset derivatives. These measures, he argued, would enhance Hong Kong’s role as an international risk management centre. Read more: Hong Kong Bitcoin Reserve Pushes Crypto Adoption Faster Strengthening Hong Kong’s Role in Global Gold Trade Beyond virtual asset derivatives, Li called for the rapid development of an international gold trading centre. He also urged Hong Kong to join the Regional Comprehensive Economic Partnership (RCEP), enabling zero-tariff exports of gold and other precious metals to RCEP members and boosting trade competitiveness. These proposals align with Hong Kong’s goal of solidifying its status as a global financial hub, ensuring that its virtual asset derivatives and traditional markets remain competitive internationally. As Hong Kong continues to push for advancements in virtual asset derivatives, industry leaders will closely watch how these regulatory changes unfold. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.