According to online reports, Hong Kong's Secretary for Financial Services and the Treasury, Mr Hui Ching-yu, said at the Vancouver Cyber Summit in Vancouver, Canada that Hong Kong currently has about 1100 financial technology companies and start-ups, including 10 licensed virtual asset trading platforms, eight digital banks and four virtual insurance companies. Hong Kong will support the health of Hong Kong's stablecoin and even the digital asset ecosystem. Responsible and sustainable development and will strive to fully implement the licensing system within this year to grant the first batch of licenses as soon as possible. In addition, Hong Kong will soon release its second policy declaration on the development of virtual assets to explore the integration of traditional finance and virtual assets, and will consult on the licensing system for over-the-counter trading services and custody services for virtual assets during the year.