Gold Finance reported that Bloomberg cited sources saying the government is preparing to release its first policy statement on the application of artificial intelligence (AI) in finance, which could potentially catalyze the use of this technology in areas like trading, investment banking, and cryptocurrencies. Officials anticipate releasing the statement around late October during the FinTech week.

The report, citing sources, indicated that Hong Kong's Financial Services and the Treasury Bureau plans to issue a set of guidelines, focusing on the ethical use of AI and general principles for applying the technology in finance. Officials are still drafting the document and seeking feedback from the industry.

A spokesperson for the Financial Services and the Treasury Bureau stated in a declaration that the Hong Kong government and financial regulators are closely monitoring market developments and global experience to promote the responsible use of AI in the financial industry. They expect to release a policy statement later this year outlining their policy stance and guidelines on the application of AI in financial markets.