On July 5, 2023, the 11th Huarui Fintech Salon, themed "Opportunities and Challenges in Building Hong Kong as a Global Digital Financial Center " was successfully held online, co-hosted by Shanghai Huarui Bank, the International Monetary Institute (IMI) of Renmin University of China, and the Institute of Financial Technology of Renmin University of China. Xia Le, Chief Asia Economist of BBVA, delivered the keynote speech. The event also saw the participation of Xiao Geng, Director of the Institute of Policy and Practice of Shenzhen Fiance Institute of The Chinese University of Hong Kong (Shenzhen) and Chairman of the Hong Kong Institution for International Finance, E Zhihuan, Chief Economist of Bank of China Hong Kong, Zhou Chenggang, CEO of China Pacific Insurance Company (CPIC) Investment Management (Hong Kong), and Zheng Yushan, Founding Partner of Waterdrip Capital. The meeting was chaired by Zhao Xijun, Academic Committee Member of IMI and Co-Dean of the Capital Market Research Institute of Renmin University of China.

Xia Le, Chief Asia Economist of BBVA, presented on the topic "Hong Kong: Building an International Virtual Asset Center." He shared insights from several aspects, including the attributes and development of virtual assets, the reasons for Hong Kong to build an international virtual asset center, and the conditions and government policy initiatives of Hong Kong. He first introduced the definition, attributes, and development of virtual assets, stating that the widespread application of virtual assets and the underlying technological concept have inherent value, but appropriate regulation is necessary to curb excessive speculation, thus safeguarding the market's healthy development and investor rights. Xia Le then analyzed the reasons for Hong Kong to build an international virtual asset center, pointing out that Hong Kong's status as a financial center is “threatened” by cities like Singapore and Shanghai. The Hong Kong government aims to optimize its innovative environment and strengthen the international competitiveness of its financial industry through the development of financial technology and the establishment of an international virtual asset center. In addition, Xia Le further evaluated the conditions and advantages of Hong Kong in building an international virtual asset center, emphasizing that talent is crucial for the development of financial technology and a significant advantage for Hong Kong in becoming an international virtual asset center. Hong Kong possesses abundant financial practitioners and talents from around the world in the field of financial technology, which helps to create an atmosphere conducive to rapid development in this area. Finally, he offered suggestions for further actions to build Hong Kong as an international virtual asset center, including policy regulation, legal improvement, talent cultivation, and popularization of knowledge about financial technology.

Translated by Gong Yusheng