Core Viewpoint - The company plans to establish a joint venture to diversify its investment portfolio and seize opportunities in digital assets, specifically through cryptocurrency investments [1] Group 1: Investment Strategy - The company has authorized its indirect non-wholly owned subsidiary, Tiankun Digital Limited, to utilize up to HKD 4.5 million of its own capital for cryptocurrency investments [1] - The investment strategy will employ a mature Delta-neutral quantitative approach, focusing on capital preservation and risk-adjusted returns [1] - The aim is to achieve uncorrelated alpha returns and diversify investments, thereby enhancing the overall investment portfolio [1] Group 2: Operational Aspects - The investment will be conducted using the group's own funds, avoiding third-party asset management services [1] - This approach helps the company to circumvent licensing and regulatory issues associated with third-party management [1]

Core Insights - Bitcoin price reached a new all-time high of $123,500, surpassing the previous record of $123,205.12 set on July 14 [1][3] - The market for cryptocurrencies, including Bitcoin and Ethereum, is experiencing a surge, driven by favorable legislative conditions and increased demand from companies [3] Group 1: Market Performance - Bitcoin's market capitalization is approximately $2.5 trillion, while Ethereum's market cap is nearly $575 billion, together accounting for 70% of the total global cryptocurrency trading volume [3] - The correlation between speculative assets like cryptocurrencies and mainstream stock indices is evident, with both being driven by similar optimistic sentiments [3] Group 2: Influencing Factors - The recent U.S. inflation data met expectations, reinforcing market predictions for a Federal Reserve rate cut in September, which has led to a shift of funds from blue-chip stocks to more volatile digital assets [3] - Institutional participation through ETFs is seen as a strong driver for Bitcoin's price increase, while Ethereum's rise is attributed to buying activity from corporate finance departments [3]

Core Viewpoint - Standard Chartered Hong Kong, Anheuser-Busch Group, and Hong Kong Telecommunications have established a joint venture named Anchorpoint to focus on issuing and promoting regulated stablecoins, aiming to enhance digital asset applications in Hong Kong [1] Group 1: Joint Venture Formation - The joint venture Anchorpoint was formed on August 1, coinciding with the effective date of the Stablecoin Regulation [1] - The partners have expressed their intention to apply for a stablecoin issuer license from the Hong Kong Monetary Authority [1] Group 2: Strategic Goals - The CEO of Standard Chartered Hong Kong emphasized the goal of providing an innovative, efficient, and secure medium of exchange to facilitate transactions and enhance the widespread use of digital assets in Hong Kong [1] - The company believes that stablecoins will play a crucial role in building a sustainable digital asset ecosystem in Hong Kong [1] Group 3: Regulatory Engagement - The partners participated in the stablecoin issuer "sandbox" launched by the Hong Kong Monetary Authority in July of the previous year to explore the integration of Web3 with traditional finance [1] - This initiative aims to strengthen Hong Kong's position as a global digital asset hub [1]

Group 1 - The signing of the "Genius Act" by President Trump marks a significant victory for the U.S. digital asset industry, establishing a regulatory framework for stablecoins [1][3] - The "Genius Act" requires issuers of dollar-backed stablecoins to hold short-term government bonds or equivalent assets in reserve, promoting broader adoption of digital assets in finance [3] - Supporters believe that the act will strengthen the U.S. dollar's position as the world's reserve currency, which Trump equated to losing a world war [3] Group 2 - The total market capitalization of cryptocurrencies surpassed $4 trillion for the first time, driven by a surge in altcoins and comprehensive regulatory legislation in the U.S. [4] - Ethereum experienced a 22% increase over five days, while Bitcoin reached a historic high of $123,205 earlier in the week [4] - The U.S. House passed a more comprehensive crypto market structure bill, currently awaiting Senate review, indicating a growing interest in regulatory clarity [5]

Group 1 - Hong Kong is positioned at the forefront of global financial and digital asset transformation, sharing a common vision with the UK for innovation and sustainable development [1] - The financial ecosystem in Hong Kong is diverse, resilient, and innovative, supported by government efforts to expand the financial value chain, creating a robust platform for regional and international markets [1] - The capital market in Hong Kong is thriving, providing a gateway for global investors, including those from the UK, to access the rapidly growing technology sector in Asia [1] Group 2 - A memorandum of understanding was signed between the Hong Kong Financial Development Council and the UK City of London Corporation to establish a partnership for sharing insights and best practices in financial transformation [2] - The memorandum aims to cultivate skills to meet changing market demands and establish an annual review framework to assess cooperation progress and explore new opportunities [2] Group 3 - The UK financial sector contributes over 12% to the UK economy and employs nearly 2.5 million people, highlighting the significance of collaboration with Hong Kong [3] - Hong Kong's market is characterized by clear and consistent rules, making it an ideal partner for the UK, especially in wealth management and digital asset sectors [3] - The balance between innovation and investor protection is a key mission for Hong Kong, promoting the integration of traditional financial services with innovative digital asset technologies [3]

Market Overview - On June 6, the market showed mixed performance with the Shanghai Composite Index up by 0.04%, while the Shenzhen Component and ChiNext Index fell by 0.19% and 0.45% respectively[2] - On June 6, net inflow of funds into the Shanghai Stock Exchange was 7.004 billion CNY, and 575 million CNY into the Shenzhen Stock Exchange[3] Sector Performance - On June 9, precious metals, pesticides, mining, and construction materials sectors led the gains, while sectors like gaming, diversified finance, food and beverage, media, light industry, and shipbuilding experienced slight declines[1] - The overall market showed insufficient upward momentum, indicating a cautious attitude among investors ahead of resistance levels[1] Economic Indicators - The global manufacturing PMI for May was reported at 49.2%, indicating a slight increase of 0.1 percentage points but remaining below the neutral level for three consecutive months[4] - In May, the restaurant industry performance index was 49.42, indicating continued pressure, although the expectation index was at 54.22, suggesting optimism for the upcoming month[7] Industry Insights - The automotive industry is expected to undergo inevitable mergers and restructuring due to market stagnation and declining profits, as stated by the China International Trade Promotion Committee[8][9] - The Ministry of Water Resources announced plans to add over 300 million cubic meters per year of unconventional water utilization capacity by 2026, addressing water resource challenges in key regions[10] Investment Opportunities - Short-term investment strategies should focus on defensive sectors and potential rotations, while long-term opportunities lie in technology and industries supported by national policies[1] - The REITs market in China has surpassed a total market value of 200 billion CNY, indicating significant growth and development in this financial tool[13]

Group 1 - Hong Kong is actively expanding its financial value chain, focusing on creating an international gold trading market and establishing a commodities trading ecosystem [1] - The meeting between Hong Kong's Secretary for Financial Services and the Canadian Deputy Minister of Finance highlighted the potential for cooperation in the gold market and virtual assets, addressing challenges posed by unilateralism and protectionism [1] - Hong Kong has been recognized as a reliable partner for Canada due to its efficient policy mechanisms and robust financial market amidst global economic uncertainties [1] Group 2 - Hong Kong was included in the London Metal Exchange's global warehouse network in January, with seven approved warehouses established within four months to serve global base metal traders [2] - The government aims to integrate the real economy with Web3 innovations, introducing a licensing system for fiat-backed stablecoin issuers while promoting the rapid development of Web3 and digital assets under a balanced regulatory framework [2]

在"裕泽香江"论坛落幕一周后，方展光接受证券时报记者采访时仍难掩兴奋："今年参会者超过400人，远超预期。"作为香港特区政府投资推广署家族办 公室环球总裁，他的感慨折射出这座国际金融中心在家族办公室(简称"家办")领域的蓬勃发展态势。 家族办公室是香港政府近年着力打造的新招牌。早在2021年，香港特区政府投资推广署便成立了家族办公室专责团队，为有意在港开业的家族办公室提供 一站式支援服务，同时建立涵盖所有市场参与者的完善生态系统，以推动家族办公室的发展。方展光便是该团队的负责人。在加入香港投资推广署前，他 曾在多家银行担任私人银行和财富管理部门的高管，在财富管理领域有丰富经验。 香港特区政府投资推广署家族办公室环球总裁方展光 数据显示，自2021年6月成立家族办公室团队至2025年2月底，香港投资推广署已协助逾160家家族办公室在港开展业务，包括约100家单一家族办公室及60 家联合家族办公室。 目前有147家家族办公室表示正筹备或已决定在港设立及扩展业务，其中来自内地及中国台湾的家族办公室占比超半数，达82家；欧美地区占34家，中东 地区占9家。 家办企业在香港的发展已然驶入快车道。 香港家办历史超百年传承 ...