Li Weihong Elected as Chairman of Hong Kong Financial Affairs Committee, Previously Called for Opening More Virtual Asset Derivatives

Odaily News: The Financial Affairs Committee of the Hong Kong Legislative Council announced that Legislative Council member Li Weihong has been elected as the Chairman of the Legislative Council's Financial Affairs Committee. Li Weihong had previously called for promoting the development of the virtual asset and futures markets, expediting the approval of license upgrades, and suggested that the Futures Exchange implement 23-hour trading as soon as possible, increase futures products available for holiday trading, and open up more derivative products such as virtual asset options and futures. Additionally, Li Weihong also urged the Hong Kong government to accelerate the establishment of an international gold trading center and strive to join the Regional Comprehensive Economic Partnership Agreement (RCEP) as early as possible, enabling the industry to export gold and other precious metals from Hong Kong to RCEP member countries with zero tariffs.