Hong Kong Chief Executive: The development of Web 3.0 is at a golden starting point, and Cyberport has also established a Web 3.0 base

ChainCatcher news, Hong Kong Chief Executive John Lee stated during the inauguration ceremony of the Hong Kong Web3.0 Association that he hopes the association will collaborate with the government to accelerate the development of innovation and technology as well as finance in Hong Kong, increasing the volume of talent and enterprises attracted to the city, and bringing more top-tier organizations to Hong Kong to showcase their capabilities. Web3.0 plays a key role in the development of fintech. At the end of last year, the government issued a virtual asset policy declaration, demonstrating an open attitude and firm determination. Recently, some leading tech companies and high-tech startups are considering expanding their businesses in Hong Kong, including virtual asset trading platforms, blockchain infrastructure companies, virtual currency wallets, payment companies, and other related projects, which are believed to contribute to the development of Web3.0. The government also needs to establish appropriate regulations for the market, with a new licensing system for virtual asset service providers set to be implemented in June, ensuring the market develops in a stable and orderly manner.

John Lee stated that President Xi Jinping emphasized the need to enhance technology and self-reliance capabilities, continuously strengthening the country's technological strength. The 14th Five-Year Plan clearly supports Hong Kong in building an international innovation and technology center. Innovation and technology is a key development area for Hong Kong, and the development of Web3.0 is at a golden starting point, capable of changing existing business operation models while creating more new opportunities. Hong Kong should dare to be a leader in this wave of innovation. The budget announced earlier by the government allocated 50 million HKD to Cyberport to accelerate the development of Hong Kong's Web3.0 ecosystem, and Cyberport has also established a Web3 base. (Source link)