Published: 16:32, July 25, 2025 | Updated: 18:22, July 25, 2025
HK stablecoin ordinance, shopping fest & SZ digital economy industry forum
By GBA Pulse Desk

HONG KONG – Hong Kong's Stablecoins Ordinance will come into effect on Aug 1. The ordinance, passed by the Legislative Council on May 21, aims to regulate activities involving stablecoins and establish a licensing regime for regulated stablecoin operations in the city.

More than 50 enterprises, including JD.com and Ant Group, are reportedly preparing to apply for stablecoin licenses. Earlier, institutions such as Standard Chartered Bank, JD Coinlink Technology, and RD InnoTech participated in the Stablecoin Issuers Sandbox.

Shopping bonanza

The 2nd Hong Kong Shopping Festival is set to begin on Friday, aimed to support the growth of the city’s small- and medium-sized enterprises.

The month-long festival will promote hundreds of selected products to consumers in the Chinese mainland, particularly through online platforms. Participating companies’ mainland online stores will offer discounts to increase their attractiveness.

Experts in online marketing will offer Hong Kong merchants tailored advice on effective market development strategies.

Meanwhile, the Hong Kong Brands and Products Shopping Festival will return to AsiaWorld-Expo (Halls 5 & 7) on Aug 1, featuring 280+ booths across seven themed zones.

Visitors can explore local specialties in the seven thematic zones, including the Hometown Flavor Zone, discover wellness products, fashion, and home goods, while enjoying live entertainment and family activities during the four-day fifth edition of the festival.

Early bird tickets at HK$8 (until July 31) are available via Octopus, AlipayHK, and KKDay, rising to HK$10 thereafter.

Global digital economy industry gathering

The 6th Global Digital Economy Industry Conference and World AI Industry Exhibition (WAIE) will commence on Wednesday in Shenzhen, focusing on cutting-edge topics such as intelligent sensing, automotive chips, and industrial digitalization.

Industry giants, including Huawei Technologies, Lenovo Group, and Foxconn, have registered to participate in the event.

Nearly 20 forums and summits on intelligent industrial digitalization will be held during the exhibition, with more than 100 speeches delivered by 100 renowned experts, scholars, and representatives of entrepreneurs.

Dunhuang grottoes art

Shenzhen will host South China's largest Dunhuang art exhibition from July 26, featuring 205 rare artifacts, including national treasures and the first public showcase of digitized Cave of Sutras results.

The unprecedented exhibition offers visitors a chance to experience the 1600-year-old grottoes' artistic legacy through cutting-edge digital preservation. It will feature millimeter-accurate digital recreations of 275 Mogao Grottoes caves alongside 80+ cultural relics and manuscripts.

Tickets (from 68 yuan) are available via Nanshan Culture, Trip, and Damai apps.