December 4th, Hong Kong Monetary Authority Chief Executive Eddie Yue stated today that it is difficult to predict when global inflation will fall, but recent interest rate trends have reached or are close to their peak. It is expected that interest rates will remain high next year and the overall economy in Hong Kong is projected to be weak. The Hong Kong government launched the world’s first tokenized green bond this year and is currently preparing to launch the second batch of green bonds, which is expected to be released in the coming months. The focus of the second batch is to utilize blockchain technology throughout the entire process in order to improve efficiency. In addition, Hong Kong’s international competitiveness has not weakened and it will strive for development in three financial areas including mainland China, green finance, and financial technology (fintech). Cross-border connectivity is one of the main development projects for the next few years with great potential for growth in both north-south directions.