In response to the growing discussion about the influx of Middle Eastern funds into Hong Kong, Chan Ho-lim, Under Secretary for Financial Services and the Treasury of the Hong Kong SAR Government, stated that there has indeed been an increase in inquiries from clients regarding how to transfer funds to Hong Kong or open accounts in Hong Kong. He added that Hong Kong and the Middle East have a two-way exchange, and revealed that a licensed virtual insurance company in Hong Kong has expanded its business to Saudi Arabia and the UAE. Hong Kong's tokenized funds have been listed on Middle Eastern wealth management platforms, and Asian funds can purchase Islamic bond ETFs in Hong Kong, providing Middle Eastern investors with a familiar and trustworthy market. Chan emphasized that the Hong Kong government will actively develop fintech and digital assets, and is currently formulating legislative proposals regarding the licensing system for digital asset trading and custody services. (Hong Kong Commercial Daily)