Hong Kong’s Financial Services and the Treasury Bureau reported on Secretary for Financial Services and the Treasury Christopher Hui’s meetings in Ottawa and Vancouver with Canadian government and regulatory counterparts and financial-sector leaders, centred on potential Hong Kong–Canada collaboration in areas including the gold market, commodities and virtual assets, alongside Hong Kong’s approach to Web3 and digital-asset regulation. In Ottawa, discussions with Canada’s Deputy Minister of Finance Chris Forbes covered challenges from unilateralism and protectionism and possible co-operation in the gold market and virtual assets, with Hong Kong pursuing international gold trading via a working group on promoting gold market development. Engagement with the Office of the Superintendent of Financial Institutions (OSFI) focused on Hong Kong’s regulatory approach across financial institutions and products, and OSFI’s Superintendent Peter Routledge highlighted Hong Kong’s progress in digital assets. Hui also briefed Senator Woo Yuen-pau on measures to sustain Hong Kong’s international financial centre status and referenced recent credit rating affirmations by Fitch, S&P and Moody’s with stable outlooks, alongside S&P and Moody’s comments on fiscal buffers, foreign exchange reserves, the external balance sheet and per-capita income. In Vancouver, Hui met Fraser Institute Board Chair Mark Scott and business figures, highlighted Hong Kong’s ranking in the Economic Freedom of the World 2024 Annual Report, and outlined continued initiatives across securities and asset and wealth management, as well as green and sustainable finance and Web3. At a business luncheon, he noted that seven approved warehouses were approved for establishment within four months of Hong Kong’s inclusion in the London Metal Exchange global warehousing network in January, and later, at an Invest Hong Kong (Canada) “Hong Kong Night” event, pointed to a licensing regime for fiat-referenced stablecoin issuers and reiterated plans to develop an international gold trading market and a commodity trading ecosystem. Hui is scheduled to speak at Web Summit Vancouver on May 30 (Vancouver time).

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