Hong Kong's new direction for financial development is gradually becoming clearer. According to the recent strategic report from the Hong Kong Financial Services and the Treasury Bureau, asset tokenization has been incorporated into the key development agenda for the next decade, with a specific timeline for implementation.

The next 2 to 5 years will constitute the mid-term sprint phase. The focus during this period is to comprehensively promote the tokenization of physical assets across various traditional financial sectors such as real estate, funds, and bonds. At the same time, Hong Kong aims to accelerate the development of more tokenized financial instruments, lay the groundwork for infrastructure, establish unified industry standards, and initiate large-scale pilot projects.

In the long-term phase of 5 to 10 years, the goals become even more ambitious. Hong Kong plans to build a complete issuance mechanism for tokenized assets and a secondary trading system, establishing a unified data standard and compliance framework. More importantly, it intends to promote the trading, settlement, and circulation of a vast amount of tokenized assets in Hong Kong, significantly enhancing market transparency and operational efficiency.

To achieve these objectives, Hong Kong will also concurrently develop tokenized trading platforms, infrastructure for smart contract applications, and on-chain network systems supporting near-instant settlement. The ultimate goal of this comprehensive strategy is clear — to transfer the infrastructure of traditional capital markets onto the blockchain, making Hong Kong the next-generation global financial hub.