Changes in Hong Kong stocks | Stablecoin concept stocks rose, Guotai Junan International (01788) rose nearly 5%, Yunfeng Financial (00376) rose more than 4%

The Zhitong Finance App learned that stablecoin concept stocks rose. As of press release, Cathay Pacific Junan International (01788) rose 4.82% to HK$2.61; Yunfeng Financial (00376) rose 4.5% to HK$3.48; Zhongan Online (06060) rose 4.42% to HK$16.07; and Yaocai Securities Finance (01428) rose 3.35% to HK$8.33.

According to the news, Hong Kong Treasury Secretary Hui Ching-yu said while attending the event on December 19 that by the end of September this year, 36 stablecoin license applications had been received from various industries. It is expected that some licenses will be issued early next year, and priority will be given to sound reserve management, price stability, and anti-money laundering measures. He believes that the relevant measures not only protect investors, but also help resolve potential disputes by establishing a clear compliance path to reduce ambiguities that may lead to transaction conflicts.

Regarding the progress of the licensing system for virtual asset trading services and custodian service providers, Xu Zhengyu said that the details of the licensing system are being formulated with the Hong Kong Securities Regulatory Commission and are scheduled to be submitted to the Legislative Council for review next year. The regulatory framework will cover key aspects of the virtual asset industry and seek a balance between risk management and innovation.