Hong Kong Financial Services and the Treasury Bureau published an update on Secretary for Financial Services and the Treasury Christopher Hui’s London meetings, positioning Hong Kong and the United Kingdom as complementary partners in financial services, including digital assets. A central outcome of the UK visit was a memorandum of understanding between the Financial Services Development Council and TheCityUK to deepen cooperation. The memorandum sets out collaboration to share insights and best practices to advance transition finance, work jointly on workforce development to meet evolving market needs, and establish an annual review framework to assess progress and identify new opportunities. The update also highlighted Hong Kong’s “3Es” priorities, cited Hong Kong’s integration into the London Metal Exchange global warehouse network in January 2025 as supporting commodities-market development, and pointed to an average daily securities market turnover of USD 31 billion in the first five months of 2025, up 120 per cent year on year. The release noted that the Stablecoins Ordinance is scheduled to be enacted in August 2025, and that the cooperation framework with TheCityUK includes annual progress reviews.
Financial Services and the Treasury Bureau (Hong Kong) 2025-06-11
Hong Kong Financial Services and the Treasury Bureau promotes closer UK ties as FSDC and TheCityUK sign memorandum on transition finance and workforce development
The Hong Kong Financial Services and the Treasury Bureau announced a memorandum of understanding with TheCityUK to enhance cooperation in financial services, including digital assets. The agreement focuses on sharing insights for transition finance, workforce development, and establishing an annual review framework. Additionally, Hong Kong's integration into the London Metal Exchange network and a rise in securities market turnover were highlighted.