Hong Kong Legislative Council member Wu Jietzhuang proposed the establishment of a HKD 100 million fund to support the Web3 industry

ChainCatcher news, on February 6th afternoon, 14 members of the Hong Kong Legislative Council C15+ met with Financial Secretary Paul Chan and other officials to discuss the new financial budget. Among them, Legislative Council member Wu Jiezhuang proposed a total of 22 suggestions across five major areas, including the development of the Web3 industry.

In terms of supporting the Web3 industry, Wu Jiezhuang suggested continuing the development direction of the 2023/24 financial budget and proposed two key measures: first, to invest HKD 50 million to establish a seed fund, using a 1:1 matching ratio to support well-known overseas enterprises and large industry events to settle in Hong Kong; second, to allocate an additional HKD 50 million to establish a dedicated Web3 investment matching fund.