Hong Kong’s tech news snapshot for January 2024 looks briefly at items including: Hong Kong’s moves into digital asset-based ETFs; deepening integration between Hong Kong and mainland China in the metaverse and related technologies; and more.
SNA’s other editions: Asia’s tech news, daily (via LinkedIn, Facebook & Twitter/X); and our Indo-Pacific technology newsletters, weekly.
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Critical technologies, quarterly across Q4 2023
Critical technologies, quarterly: Q4 2023 news summary
“It will be extremely challenging to become licensed as an issuer of a fiat-referenced stablecoin under the proposed regime,” said Ben Hammond, partner and office managing partner at Ashurst in Hong Kong. “Currently, it is also questionable how many issuers will even be capable of meeting the criteria to be licensed.”
“India’s stock market capitalization has overtaken Hong Kong’s for the first time as the South Asian nation’s growth prospects and policy reforms make it an investor darling while global capital pours out of China.”
“The combined value of shares listed on Indian exchanges reached $4.33 trillion as of Monday’s close, versus $4.29 trillion for Hong Kong, according to data compiled by Bloomberg. That makes India the fourth-biggest equity market globally.”
Established by China Europe International Financial Group in Hong Kong, GBA Capital has secured backing from prominent entities, including China’s state-owned National Engineering Laboratory and financial institutions such as the Asia Pacific Investment Bank.
The company’s subsidiary, Hongkong Global, attracted angel funding from institutional investors in May, reaching a valuation of 100 million Chinese yuan ($14 million). At that time, Zhongrong Global outlined its strategic utilization of the funds to incubate Web3 projects, emphasizing industrial services within the burgeoning field of artificial intelligence.
Infosys: Generative Artificial Intelligence Radar – Asia-Pacific
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PwC 2024 Artificial Intelligence for Business Predictions
Weekly Asia Tech newsletters
In the January 23rd newsletter:
South Korea’s semicon mega-development,
India-Argentina lithium mining,
Singtel adds Starlink for maritime use,
India’s quantum technology moves,
Huawei adds Changan and JD for OS growth,
Google backs Pacific Connect undersea cable…
● January 23rd newsletter on LinkedIn
● January 23rd newsletter on Substack