Following is a question by Professor the Hon Alex Fan and a reply by the Under Secretary for Financial Services and the Treasury, Mr Joseph Chan, in the Legislative Council today (October 21):

The Hong Kong Monetary Authority (HKMA) announced today (15 October) the “ART” Framework to support the responsible adoption of artificial intelligence (A.I.) in the banking sector, fostering an A.I.-enabled banking ecosystem with Accountability, Resilience, and Trust.

The Chongqing and Hong Kong authorities announced today (14 October) the launch of the Chongqing-Hong Kong Cross-boundary Data Validation Platform (CQ-HK DVP).

The Securities and Futures Commission (SFC) has taken action against two groups suspected of being involved in fraudulent schemes to create a false or artificial appearance of demand for shares in initial public offerings (IPOs).

The Securities and Futures Commission (SFC) will strengthen targeted tools under the Securities and Futures (Stock Market Listing) Rules (SMLR) in dealing with IPO cases and post-IPO matters to enhance both regulatory efficiency and investor protection in Hong Kong's listing market, according to its consultation conclusions published today.

Bank Negara Malaysia (BNM) and the Hong Kong Monetary Authority (HKMA) have agreed to deepen cooperation across digital assets, tokenisation, trade finance and financial infrastructure.

Hong Kong will table a bill this year to license virtual asset dealing, custody, advisory and management services. Christopher Hui, Secretary for Financial Services and the Treasury, set out the plan to lawmakers. It forms part of the city’s first five-year plan and the 2026 Policy Address. Hui said both documents shift financial policy from scale to core functions, such as serving the real economy. In addition, his bureau and the Hong Kong Monetary Authority (HKM

Hong Kong’s Securities and Futures Commission (SFC) and Accounting and Financial Reporting Council (AFRC) have signed a new memorandum of understanding (MoU).