Chinese state-owned enterprises operating in Hong Kong face new restrictions regarding cryptocurrency and stablecoin activities. The directive aims to shift these firms’ focus away from digital assets towards supporting China’s “real economy.” By prohibiting participation in crypto-related businesses, the Chinese government is prioritizing economic development and stability. According to Caixin, this move targets major institutions like internet giants, state-owned enterprises, and financial firms operating in Hong Kong. These companies are now encouraged to prioritize initiatives that support traditional industries such as manufacturing and infrastructure development. !