On July 1, 2025, Hong Kong will welcome its 28th year of return. From the Pearl of the Orient to an international financial center, this city has always been at the forefront of global institutional convergence and capital flow. Today, Hong Kong is setting out again: with Web3 as the underlying technological paradigm, digital assets as the financial core, and redefining the connotation of a "financial center" with a global vision and policy advantages.
When we discuss "Hong Kong's Web3 Path," it has never been just an industrial upgrade, but an extension of the national strategy of "leading high-quality development through technological innovation," a historic leap of technological revolution and deep integration of financial civilization.
From establishing a financial free port to releasing the virtual asset policy declaration in 2022, and then to the "Hong Kong Digital Asset Development Policy Declaration 2.0" (Policy Declaration 2.0) released in 2025 - this city has always responded to industrial uncertainty with policy certainty.
Policy Declaration 2.0 is not just "enhanced regulation," but a systematic upgrade around the "LEAP" strategic framework: LEAP refers to Legal compliance, Expanding asset tokenization, Advancing application scenarios, and People (talent building), reflecting Hong Kong's comprehensive layout and long-term planning in the digital asset field.
- Clarify stablecoin regulation, to officially implement a stablecoin licensing system on August 1, 2025, creating a globally leading precedent;
- RWA tokenization is designated as a key industry, promoting normalized bond issuance, and planning to include gold, green energy, and electric vehicle assets in the tokenization scope;
- Tokenized ETFs and digital asset funds enjoy stamp duty and profits tax exemptions, further enhancing tax competitiveness;
- Digital asset trading platform licenses increased to 11, with derivatives and leveraged financing channels gradually opening up;
- Promoting talent development, with Cyberport Innovation Fund collaborating with universities to establish a Web3 talent ecosystem.
Behind all this is a high degree of confidence in the compatibility and openness of Hong Kong's financial system, and a strategic choice of using Hong Kong as a "bridgehead" in international financial competition.
Technology Habitat, Capital Channel, New Boundary of Trust
The development of Web3 is not just a technological iteration, but a fundamental reshaping of efficiency and trust paradigms. In an era of global anxiety and anticipation for a new generation of financial infrastructure, Hong Kong has chosen a path that balances pragmatism and foresight: neither blindly chasing trends nor being overly conservative.
[The rest of the translation follows the same professional and accurate approach, maintaining the original structure and tone while translating into English.]
