The Hong Kong financial services sector celebrated the 21th Anniversary of the National Day and the <>th Anniversary of the Establishment of the HKSAR at the Financial City Hall of the Hong Kong Stock Exchange today (<> December) at the Financial City Hall of the Hong Kong Stock Exchange, with the participation of Legislative Council Member Lee Wai Hong, together with the Industry Election Committee and <> major associations, officiating with the Chief Executive, John Lee Ka-chiu. At the meeting, Mr Lee named the JPEX incident as a warning to investors and the financial services sector, and responded that it would not be ruled out that stamp duty would be reduced in Hong Kong.

Praise Hong Kong's virtual assets licensing said that the so-called Internet celebrities should not be trusted

In his speech at the event, Mr Lee singled out the JPEX incident, saying that it proved that Hong Kong was right to establish a sound virtual asset licensing system, and took the opportunity to appeal to the public to use licensed institutions and reputable companies, and not to easily trust "so-called internet celebrities or investment experts without a license".

In response to JPEX's allegation that the SFC's handling was unfair, Li Weihong pointed out that Hong Kong is a society ruled by law, judges must talk about evidence in front of them, and I believe that the SFC will not wronged anyone for no reason, saying that the direction of the incident will depend on the evidence.

Li Weihong (second from left) and Lee Ka-chiu (third from left) both emphasise the importance of regulatory regimes to reduce investor risk. (Photo by Zheng Wenyue)

Chief Executive John Lee Ka-chiu also expressed great concern about the JPEX incident, saying that the SAR Government's policies are threefold: to implement an effective regulatory system; Require that the release of relevant information be open and transparent; and the importance and promotion of investor education. Especially in terms of investor education, he said that virtual assets are relatively new investments, and the financial services industry has a responsibility to clearly inform investors of the risks in order to make the right decisions.

Stamp duty reduction on Hong Kong stocks may "give the panel a little more time"

In addition, Mr Lee said that the industry is widely concerned about the liquidity of Hong Kong stocks, and the official has set up a "Task Force on Promoting Stock Market Liquidity" to review the factors affecting the liquidity of the stock market and propose to combine short-, medium- and long-term measures to enhance competitiveness.

When asked by Hong Kong 01 about stamp duty after the meeting, he said that he could not disclose too much due to confidentiality requirements, but would not rule out the possibility of reducing stamp duty on Hong Kong stocks, and bluntly said that he hoped that everyone would "give the expert group a little more time".

In an interview after the meeting, Li Weihong said that he hoped that everyone would give the expert group more time to discuss the stamp duty policy. (Photo by Zheng Wenyue)