陳家豪：迎接新金融產品 監管分工須配合 — 香港金融科技周數字化趨勢下的投資策略講座後記
Embracing New Financial Products: Regulatory Collaboration Needed — Post-Event Reflection on Hong Kong Fintech Week’s Digitalization Trends and Investment Strategies Seminar — Emil Chan
2022年11月7日刊登於明報財經
Published in Ming Pao Finance on November 7, 2022
【明報專訊】註冊財務策劃師協會及雲端與流動運算專業人士協會每年在香港金融科技周舉行期間，都會舉辦周年研討會，以於金融及科技兩個專業範疇邀請業界翹楚互相交流。名為「數字化趨勢下的投資策略」的講座共吸引了線上及線下超過120位業界人士參與。正當香港正面對人才、企業、資金及股票市場疲弱的種種負面因素下，今年金融科技周高調宣布將會擁抱虛擬資產並致力建設香港成未來全球虛擬資產交易中心，而今年的研討會正適逢金融科技周舉行前一周召開。
摸着石頭過河 參與元宇宙虛擬資產交易
首輪專題討論「擁抱Web 3.0年代下的投資策略和風投趨勢」由註冊財務策劃師協會會長黃敏碩主持，分享專家包括意博金融（VSFG）投資總監陳裕楷、STEPN顧問鄧志遠、Asymmetry Capital 創辦人黃一哲及Gusto Collective市場總監郁加欣。幾位專家特別關心的議題當然是政府橫空推出支持數字資產交易「救市」的宣言。 古往今來，受人尊重之智者皆有「聞過則喜」的高風亮節，「知過不諱」的坦蕩胸襟及「改過不憚」的知恥後勇。 一旦虛擬資產交易變成主流化，專家建議投資元宇宙及Web 3領域必須注重項目的核心能力及基礎建設應用而不是發行的虛擬貨幣本身的價值。另外大家也注意到政府愈來愈支持本土企業。雖然過去推出的政策並不理想，業界對香港能否再次成為區內以人才、融資及法規取勝的虛擬資產交易中心仍具信心。元宇宙發展仍然在起動階段，幾位專家也同意，需以摸着石頭過河的態度參與其中，否則等到完全成熟的時候才追落後就來得太遲。
港須敏銳市場觸覺 應對急速變化
壓軸的專題討論主題是由筆者主持的「央行數字貨幣會加速數字化轉型」。分享的專家包括香港數字金融協會聯席會長劉業民，華泰金融控股（香港）網絡金融，零售及私人財富管理合規主管兼香港金融科技協會董事會成員李嘉明，香港互聯網金融協會會長兼Banking Circle大中華區總經理李國樑，以及Gilt Chambers大律師兼前私隱專員黃繼兒。
討論帶出幾個非常值得大家繼續探討的議題。其一是香港需要繼續發揮其國際金融中心地位就必須積極發展mCBDC的跨境支付系統的落地工作來增加核心競爭力。其二是香港必須整合多方資源打造數字基礎建設、相關人才培育，以及一系列如個人資料保護及合規的相關落地工作。否則上有新政策，下卻苦無對策。其三提及央行數字貨幣對香港的機遇和挑戰，談及政府和業界之間一直缺乏有效的互動渠道。監管機構的分工是按傳統金融產品類別劃分，但新金融產品每每跨越傳統分類而導致監管滯後的問題比其他的金融中心來得嚴重。
香港能否憑着eCNY及eHKD的推出依賴數字化轉型彎道超車，中文修養頗高的李嘉明以蘇軾的「人生到處知何似，應似飛鴻踏雪泥」勉勵大家要用敏銳的眼光注意金融科技的相關行業信息及各地政府的政策舉動來做全場的終結。
陳家豪 香港數字金融協會聯席會長
[From Ming Pao News] During the Hong Kong Fintech Week, the Society of Registered Financial Planners and the Association of Cloud and Mobile Computing Professionals hold an annual symposium to facilitate the exchange of ideas between industry leaders in the fields of finance and technology. The seminar titled “Investment Strategies in the Digitalization Trend” attracted over 120 industry professionals both online and offline. Against the backdrop of talent shortage, weak companies, funds, and stock markets in Hong Kong, this year’s Fintech Week made a high-profile announcement that Hong Kong would embrace virtual assets and strive to build itself as the global center for virtual asset trading in the future. The symposium took place one week before the Fintech Week.
The first panel discussion, “Embracing Investment Strategies and Venture Capital Trends in the Web 3.0 Era,” was hosted by The Society of Registered Financial Planners, Michale Wong. The panel of experts included Brian Chan is an Investment Director of VSFG, Rico Tang, Advisor at STEPN, Ray Wong, the founder of Asymmetry Capital, and Caroline York, the Marketing Director of Gusto Collective. One of the key topics of discussion was the government’s declaration to support the “rescue” of the digital asset trading market. Throughout history, respected intellectuals have always displayed the virtues of being receptive to new ideas, being honest about mistakes, and having the courage to change. Once virtual asset trading becomes mainstream, experts recommend focusing on the core capabilities and infrastructure applications of projects rather than the value of the virtual currencies issued. It was also noted that the government is increasingly supportive of local businesses. Despite the less-than-ideal policies introduced in the past, the industry remains confident that Hong Kong can once again become a virtual asset trading center in the region by leveraging its strengths in talent, financing, and regulations. The development of the metaverse is still in its early stages, and the experts agreed that it requires a cautious approach to participate, otherwise it will be too late to catch up once it fully matures.
The final panel discussion, moderated by the author, focused on the topic of “Central Bank Digital Currency (CBDC) Accelerating Digital Transformation.” The panel of experts included Edmond Lau, the Co-Chairman of the Hong Kong Digital Finance Association, Irene Lee, Head of Retail, Fintech and Private Wealth Management Compliance at Huatai Financial Holdings (Hong Kong), a board member of the Hong Kong Fintech Association, Paul Li, the President of the Hong Kong Internet Finance Association and General Manager of Banking Circle Greater China, and Stephen Wong, a barrister at Gilt Chambers and former Privacy Commissioner.
The discussion raised several important topics for further exploration. Firstly, for Hong Kong to maintain its status as an international financial center, it needs to actively develop the implementation of cross-border payment systems for m-CBDC to enhance its core competitiveness. Secondly, Hong Kong must integrate multiple resources to build digital infrastructure, cultivate related talents, and carry out a series of practical work, such as personal data protection and compliance. Otherwise, while new policies are being introduced, there will be a lack of effective countermeasures. Thirdly, the opportunities and challenges of central bank digital currencies for Hong Kong were discussed, highlighting the persistent lack of effective channels of interaction between the government and the industry. Regulatory agencies are traditionally divided based on conventional financial product categories, but the emergence of new financial products often blurs these boundaries, leading to more severe regulatory lag compared to other financial centers.
Whether Hong Kong can take advantage of the introduction of eCNY and eHKD to rely on digital transformation to overtake in the curve, Irene Lee, who has a strong command of Chinese literature, encouraged everyone to pay close attention to industry information and government policy developments in the field of financial technology, quoting Su Shi’s poem: “Life is like a journey, one should be like a flying swan treading on snowy mud.” This serves as a reminder to be alert and vigilant in the face of rapid changes in the financial technology industry.
Emil Chan
Co-chair of Hong Kong Digital Finance Association
