Hong Kong Financial Secretary Paul Chan: Over 150 Web3-related companies have settled in Cyberport in the past year

ChainCatcher news, Hong Kong Financial Secretary Paul Chan stated that promoting the development of innovation and technology is a key focus of the government's intensified efforts. The national 14th Five-Year Plan clearly positions and tasks Hong Kong to build an international innovation and technology center. Driving industrial upgrading, transformation, and diversified development through innovation and technology is the only way for Hong Kong to move towards high-quality development, while also assisting the country in accelerating the achievement of high-level technological self-reliance and strengthening, and speeding up the realization of Chinese-style modernization. Developing innovation and technology is a core issue for Hong Kong's future development.

Paul Chan indicated that the Cyberport's tech ecosystem is also rapidly growing, with over 1,900 companies currently, and the total financing of startups has exceeded 35.7 billion HKD, along with more than 480 intellectual property projects. One of the companies in the Cyberport community became the second virtual asset trading platform in Hong Kong to be licensed by the Securities and Futures Commission last year.

On the other hand, the "Budget" has allocated 50 million HKD for Cyberport to accelerate the development of the third generation of the Internet, Web 3.0, based on blockchain technology. In the past year, more than 150 related companies have settled in Cyberport, which is believed to bring more innovation in research and development and applications in this area. (Source link)