cryptonewsz.com
Hong Kong‘s crypto activity in the securities industry has generated a revenue of $77 Million Yuan in the first quarter of 2024.
The Hong Kong Securities and Futures Commission has released the “Financial Review of the Securities Industry”, which revealed that the total net profit of the Hong Kong securities industry for the six months ending June 30, 2024 has seen further growth. The review report shared that for the first time the securities industry’s ‘virtual asset trading activities’ have incurred a total of 77 million yuan in revenue in the Q1 of 2024.
The review report also disclosed that the average daily market turnover and the number of active cash and margin customers has also increased. The financial review report and the latest joint survey between the Securities and Futures Commission and the Hong Kong Monetary Authority has found that the industry is gradually improving its products and services.
The Securities and Futures Commission and the Hong Kong Monetary Authority also conducted a joint survey revealing that the transaction volume of non-exchange traded investment products handled by licensed institutions in 2023 reached 1.238 trillion yuan.
Overall, the total net profit of all securities dealers and securities margin financiers in Hong Kong has gone up to HK$19 billion in Q1 2024, which is an increase of 50% and 29% from the previous six months and a year ago respectively.