Hong Kong Legislative Council Member: More derivatives of virtual asset options and futures should be opened up

According to Ming Pao, the Hong Kong government will announce a new "Budget" at the end of this month. Legislative Council member (financial services sector) Li Weihong said that he has integrated the views of the industry and handed it to Finance Secretary Chan Maobo. Li Weihong proposed to promote the development of virtual assets and futures markets, speed up the approval and upgrade of licenses, and suggested that the Futures Exchange should realize 23-hour trading as soon as possible, increase the number of futures products for holiday trading, and open more derivatives of virtual asset options and futures, which will help strengthen the status of the international risk management center. In addition, he asked the Hong Kong government to speed up the construction of an international gold trading center, and strive to join the Regional Comprehensive Economic Partnership Agreement (RCEP) as soon as possible, so that the industry can export gold and other precious metals from Hong Kong to RCEP members with zero tariffs.