The Secretary for Financial Services and the Treasury (SFST) Christopher Hui started his visit to Korea on May 2.
Mr. Hui met with the President of the Asian Development Bank (ADB), Mr Masatsugu Asakawa. He told Mr Asakawa that with the advantages of accessing Mainland and international markets, and Hong Kong's robust regulatory framework, the city always welcomes the ADB to make use of Hong Kong's financial markets and services to reach out to target markets for fundraising and investments.
At the meeting with the Governor of the Bank of Korea, Mr. Rhee Chang-yong, Mr. Hui said that although 2022 was a difficult year for global financial markets with rising inflation and interest rates, the Hong Kong financial market is well supported by the resilience and stability of the city's financial system, adding that the recent turmoil in the international banking sector has brought minimal impact to Hong Kong's banking system and monetary stability.
Mr. Hui also shared with Mr Rhee the Policy Statement on Development of Virtual Assets in Hong Kong issued last October. The Policy Statement sets out the vision and policy direction to establish a facilitating environment with necessary guardrails to mitigate actual and potential risks put in place in accordance with international standards, so as to promote the sustainable and responsible development of the virtual assets sector in Hong Kong.