ChainCatcher news, Hong Kong Financial Secretary Paul Chan has appointed Charles Li as a member of the Hong Kong Stock Exchange Board, replacing the resigned Ren Jingxin. The appointment is effective from October 29 until the conclusion of the 2026 Annual General Meeting.Paul Chan stated that Charles Li has extensive experience in digital transformation and data management, and he looks forward to his assistance in accelerating the introduction of more new technologies and data applications at the Hong Kong Stock Exchange, as well as further optimizing the risk management of information technology infrastructure and data assets.

ChainCatcher news, the Financial Secretary of the Hong Kong Special Administrative Region, Paul Chan, published a blog post today titled "Strengthening Foundations and Enhancing Quality Development." The disclosed information shows that over 400 companies have settled in Cyberport in the past year, bringing the total number of companies in the community to over 2,000, among which 8 are unicorns; startups have raised a total of over 40.6 billion HKD, with a clear advantage in the fintech and third-generation internet sectors. The development of artificial intelligence is accelerating and technically supporting the digital transformation of Hong Kong enterprises.

ChainCatcher news, Hong Kong Financial Secretary Paul Chan stated that the goal of developing Hong Kong into a third-generation Internet Web 3.0 hub is clear. To date, Cyberport has gathered over 210 companies engaged in Web 3.0, with founders from more than 20 countries and regions, covering a wide range of businesses. Last October, Hong Kong released a policy declaration regarding the development of virtual assets in the region, and it has been over a year since then. The third-generation Internet market has developed rapidly, encountering some challenges along the way, but also presenting greater opportunities. Paul Chan also emphasized that security is essential, and development is necessary. Under the first-mover effect and agglomeration effect in the online world, in a winner-takes-all scenario, how to seize opportunities amidst challenges and transform them into new blue oceans is a key question for maintaining a leading position in the global Web 3.0 market.

ChainCatcher news, the Financial Secretary of the Hong Kong Special Administrative Region, Paul Chan, stated that the next wave of breakthrough growth in the internet is likely to be driven by third-generation internet (Web3) and blockchain technology. NFT, GameFi, Play to Earn, and "immersive" entertainment are all directions that many global entertainment giants are currently investing resources to explore. The core blockchain technology of Web3, with its characteristics of disintermediation, security, transparency, immutability, and low cost, can be applied across various fields, including finance, commerce, trade, supply chain management, and even daily life. The Hong Kong SAR government is also actively applying Web3 technology.For example, in February this year, the Monetary Authority issued the world's first government-issued tokenized green bonds, consolidating bonds and other related financial instruments, participants, and activities onto a single digital platform, enhancing the efficiency of the entire process, reducing the traditional bond issuance time from 5 business days (T+5) to just 1 business day (T+1). To accelerate the development of Web3, I allocated HKD 50 million in this year's Budget to Cyberport to expedite the establishment of a thriving Web3 ecosystem, including actively attracting businesses and talent to settle, as well as organizing related educational and promotional activities.So far, Cyberport has gathered over 180 companies related to Web3 technology, including unicorns and licensed virtual asset trading platforms, with more than 20% of the companies coming from the mainland and overseas.

ChainCatcher news, Financial Secretary Paul Chan of the Hong Kong Special Administrative Region Government stated in a video address at the 2WEB3 FEST Hong Kong 2023 event that the virtual asset industry has been steadily developing in Hong Kong over the past few years.Paul Chan mentioned that under the principle of "same activity, same risk, same regulation," Hong Kong will introduce a licensing system for virtual asset service providers in June this year. "We believe that by establishing a suitable regulatory licensing system and eliminating bad actors in the industry, it will help enhance the overall image of the industry and promote the healthy, orderly, and responsible development of the virtual asset industry." (source link)