Core Insights - Hong Kong is accelerating the construction of an international virtual asset center, prompting Chinese securities firms to diversify their business by entering the virtual asset trading service market [1][4] - The number of Chinese securities firms obtaining licenses for virtual asset trading services is increasing, with notable firms like Zhaoyin International and Guotai Junan International leading the way [1][2] Licensing Progress - Zhaoyin International became the first Chinese bank-affiliated securities firm to obtain a virtual asset trading service license from the Hong Kong Securities and Futures Commission on July 14 [1][2] - Guotai Junan International announced on June 24 that it is the first Chinese securities firm in Hong Kong to provide comprehensive virtual asset trading services [2] - Other firms such as Dongfang Caifu and Tianfeng Securities have also received approval for virtual asset trading services, indicating a faster licensing process among Chinese securities firms [2] Business Diversification - The implementation of the Stablecoin Regulation in Hong Kong on August 1, 2025, is expected to enhance the development of virtual asset trading, cross-border payments, and related services [4] - Analysts believe that the approval of virtual asset trading licenses will allow Chinese securities firms to expand their business and create new revenue growth points [4][5] - Engaging in virtual asset trading is anticipated to improve the resilience of brokerage income and broaden the range of investment products offered to clients [5]
业务多元化再迎新契机 中资券商争相入局虚拟资产交易服务