Hong Kong's tokenisation drive set to boost treasury centres and investments

Hong Kong's propulsion to found a tokenised fiscal strategy is poised to pull much companies to acceptable up treasury centres successful the city, which would springiness investors broader options portion reducing transaction costs, according to marketplace players.

Both corporations and individuals stood to payment from accrued tokenisation of wealth and assets, which could marque fiscal services faster and much businesslike and accessible, said representatives from Standard Chartered, China Asset Management (Hong Kong) and authorities bureau InvestHK during a briefing connected Friday.

As government-led tokenisation and integer plus initiatives, specified arsenic Project Ensemble, gained traction, much commercialized applications were expected to emerge, according to King Leung, planetary caput of fiscal services, fintech and sustainability astatine InvestHK.

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Leung pointed retired that tokenised fiscal products could amended firm currency and treasury absorption by reducing the clip and outgo of cross-border transactions. That could pull much mainland Chinese firms to found treasury centres successful Hong Kong, pursuing the way of respective ample state-owned enterprises.

In April, the Hong Kong Chinese Enterprises Association formed a Corporate Treasury Centre Committee, comprising 43 subordinate companies crossed sectors specified arsenic energy, telecommunications and manufacturing.

Collectively, these companies managed assets exceeding US$240 billion, with financing of astir US$100 cardinal and yearly settlements adjacent to US$3 trillion, according to a statement.

From left: Katie He, caput of merchandise and strategy astatine ChinaAMC (HK), King Leung, planetary caput of fiscal services, fintech and sustainability astatine InvestHK, and Anthony Lin, caput of Hong Kong, Greater China and North Asia astatine Standard Chartered. Photo: Aileen Chuang alt=From left: Katie He, caput of merchandise and strategy astatine ChinaAMC (HK), King Leung, planetary caput of fiscal services, fintech and sustainability astatine InvestHK, and Anthony Lin, caput of Hong Kong, Greater China and North Asia astatine Standard Chartered. Photo: Aileen Chuang>

Corporate treasury centres helped clients negociate their planetary finances, offering services specified arsenic overseas speech trades, fiscal products and hazard management, said Anthony Lin, caput of Hong Kong, Greater China and North Asia, and planetary caput of marketplace absorption for transaction banking astatine Standard Chartered.