Financial & Treasury Services Committee

On 10 July, the Committee welcomed Thrity Mukadam, Senior Director, Supervision of Markets, Securities and Futures Commission (SFC), who provided members with an overview of the new Uncertificated Securities Market (USM) regime. The presentation covered the objectives and implementation progress of the initiative, as well as its implications for market participants and Hong Kong’s financial market infrastructure. 

Members subsequently exchanged views on the expected benefits of the regime, including enhanced investor convenience, greater market efficiency and the further strengthening of Hong Kong’s competitiveness as an international financial centre.    Following the completion of his third term, Jack Chan retired as Chairman of the FTS Committee. The Committee expressed its gratitude for his dedicated leadership and service. At the same meeting, Aveline San was elected Chairman, Anthony Ng was re-elected Vice-chairman, and Nicholas Mayhew was elected Vice-chairman. 

At the Chamber’s Financial and Treasury Services Committee meeting on 21 April, members engaged in a timely and insightful discussion on the future of Hong Kong’s gold trading market. The session featured remarks from Mr Julian Ip, Political Assistant to the Secretary for Financial Services and the Treasury, and the Honourable Robert Lee, Legislative Councillor representing the Financial and Treasury Services functional constituency. Their perspectives provided valuable context on policy direction and market developments shaping Hong Kong’s role in the global precious metals sector.

Speakers highlighted evolving market dynamics, including infrastructure considerations for storage, opportunities to enhance Hong Kong’s trading capabilities, and the strategic importance of strengthening the city’s position as a regional hub for bullion and related financial services. Discussions also touched on how regulatory frameworks and market innovation can support the sustainable growth of the sector. The session underscored the importance of continued collaboration between policymakers and industry stakeholders to enhance market competitiveness and reinforce Hong Kong’s standing in the global commodities landscape.

The launch of Hong Kong’s IP Financing Sandbox in December 2025, jointly introduced by the CEDB, Intellectual Property Department and Hong Kong Monetary Authority (HKMA), was the topic of discussion at the Chamber’s seminar on 15 April. Titled “Beyond the Balance Sheet: How Hong Kong’s IP Financing Sandbox Finances Innovation,” the event featured distinguished speakers including Ying-ying Cheng, Head of Banking Supervision, HKMA; Fei Kwok, Managing Partner, Clyde & Co Hong Kong; Anita Ou, Managing Director, Head of Enterprise Banking, Commercial Banking, HSBC; Wiley Pun, Advisory Partner, Grant Thornton Advisory Services; and Christopher Yip, General Manager, NEC Hong Kong.

Moderated by Financial and Treasury Services Committee Vice-Chairman Anthony Ng, the event kicked off with a presentation by Ying-ying Cheng, discussing the Sandbox’s significance as a milestone in strengthening the city’s IP financing landscape and position as a leading IP trading hub. The ensuing panel delved into how IP data, patent analytics and valuation tools are beginning to reshape credit assessments for innovation-driven, IP-rich companies. Panellists Fei Kwok, Anita Ou, Wiley Pun and Christopher Yip unpacked issues such as the practical implications of IP-backed lending, including risk identification, legal enforceability, dealing with borrower defaults and cross-border challenges. They also examined how the Sandbox enables controlled experimentation and supports market development.

The Financial & Treasury Services Committee hosted a presentation by a team from the Hong Kong Monetary Authority (HKMA) on 14 January. The session was joined by members of other committees including Small and Medium Enterprises, Industrial and Technology Development and Innovation, Data and Communication.

Kyle Hung, Head, Financial Market Infrastructure Services at HKMA, briefed members on the progress of Project CargoX/ Commercial Data Interchange (CDI), an initiative designed to unlock greater value in SME trade financing. She also shared the key objectives of the multi-year public-private collaboration initiative and their implications and opportunities for businesses. These included leveraging cargo and trade data to streamline and enhance trade finance processes, developing digital solutions to improve accessibility to trade finance for SMEs and exploring connections with international data partners to facilitate the trade financing use case for banks in Hong Kong.