Exclusive | Unit of Chinese state-owned developer Greenland to apply for Hong Kong virtual asset trading licence, CEO says
- Greenland is the first state-owned enterprise to express interest in entering Hong Kong’s market for digital assets
- Greenland Financial Technology Group aims to trade assets including cryptocurrencies, NFTs and carbon credits
A unit of Greenland Holdings, the largest developer in Shanghai, which is 46.4 per cent owned by the Shanghai municipal government, is planning to apply for a licence to trade virtual assets in Hong Kong, according to a senior executive.
Greenland is the first state-owned enterprise to express an interest in entering Hong Kong’s digital trading industry, an indication that the Hong Kong government’s efforts to promote the city as a trading hub for virtual assets have gained attention.
“By applying for a virtual asset operator’s licence in Hong Kong, it will further diversify our business and expand our international footprint,” said James Geng Jing, CEO of Greenland Financial Technology Group, a wholly owned subsidiary of Greenland Holdings.
Geng cited Hong Kong’s position as an international city that is part of China as a reason for the move.
“We want to expand our digital financial business in Hong Kong as our gateway to the world,” he said in an exclusive interview with the Post during a visit to Hong Kong last week. “As Hong Kong is launching a new regulatory regime for virtual asset trading platforms, it is the perfect timing for Greenland to enter into this business in Hong Kong.”