according to the Hong Kong government news bulletin, Hong Kong Financial Secretary Paul Chan Mo-po stated today while attending an event that as of the end of March this year, the number of registered funds in Hong Kong reached 976, with a net inflow of funds exceeding 44 billion US dollars annually, an increase of 285%. The number of family offices is expected to increase from 2,700 to 3,000 soon, and Hong Kong is expected to become the world's number one cross-border asset management center in two to three years.

In terms of financial innovation, there has been strong interest in digital assets in the market recently, especially the issuance of stablecoins has sparked heated discussions. The legislation on stablecoins has made Hong Kong one of the first jurisdictions in the world to establish a legal regulatory framework for stablecoins. We embrace the development of digital assets and have accelerated the improvement of relevant legal regulatory frameworks in recent years, such as the licensing system for virtual asset trading platforms, with 10 licenses already issued and another eight applications under review.