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Hong Kong Legislative Council Member Tan Yueheng: Attracting fintech companies to participate in the stablecoin sandbox mechanism

According to the Hong Kong Dagong News Exchange, Hong Kong Legislative Council member Tan Yueheng has joined other members of the G19 to communicate with Chief Executive Li Jiachao and submit a proposal for the 2024 policy address to him. Tan Yueheng emphasized the use of technology to promote the development of new financial formats, including attracting financial technology companies to participate in the stablecoin sandbox mechanism, expanding the scope of testing of digital RMB as a cross-border transfer tool, and promoting the development of standardized trading platforms and products for virtual assets. Tan Yueheng proposed to promote the expansion of interconnection, accelerate the process of new stock connections, and allow mainland qualified investors to subscribe to Hong Kong IPOs.