CITIC Securities: The improvement of Web3 regulatory ecosystem is accelerating, which is expected to enhance Hong Kong's competitiveness in the global digital asset ecosystem

CITIC Securities pointed out that the "Hong Kong Digital Asset Development Policy Declaration 2" issued by the Hong Kong government on June 26 continues the policy orientation of January 2022 and represents Hong Kong's determination to become a global leader in the digital asset field. Looking ahead to the future, the Hong Kong government is laying the foundation for further innovation and market development. We believe that with the joint efforts of regulatory agencies, industry, and society, the regulatory framework and ecosystem for digital assets in Hong Kong are accelerating improvement, which is expected to greatly enhance the attractiveness of global Web3 talents, funds, and projects. It is expected to lead Hong Kong from a traditional international financial center to a leading global digital asset innovation center, consolidating its strategic position as an international financial center, a bridgehead for RMB internationalization, and a super contact.