Xu Zhengyu: Gold can serve as a potential "bridge" connecting traditional finance and new finance.

CoinFeed reported on May 20th, citing the South China Morning Post, that Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, stated at the Global Prosperity Summit that gold can serve as a potential "bridge" connecting traditional and new finance, promoting the development of the digital asset market through technologies such as blockchain. Hui stated that Hong Kong's decision not to establish an independent digital asset regulatory body is based on the consideration of "convergence" between traditional and innovative finance, aiming to promote synergy under the same regulatory framework. Previously, HSBC and Hang Seng Investment Trust had already launched a tokenized, unlisted class of the Hang Seng Gold ETF on the HashKey Exchange. Hong Kong is also advancing the trial operation of a central gold clearing system and plans to increase its gold storage capacity by more than 10 times, while expanding its digital asset regulatory framework to stablecoins, tokenization, and broader Web3 infrastructure.