(Hong Kong Comprehensive News) Hong Kong will establish the third -generation Internet (Web3.0) Association to promote the development of the virtual asset market.
Comprehensive Sing Tao Daily and Zhongtong News reported that the Web3.0 Association was established on Tuesday (April 11). The Hong Kong Chief Executive Li Jiachao and the China United Nations Office leaders will attend the establishment ceremony to show support.
The former president of the Hong Kong HKMA Chen Delin will be the president of the association. Members include multiple industry leaders and legislators, such as Li Feng, chairman of China Mobile Hong Kong, Tian Xiaosan, vice president of Douyin Group, and members of the Legislative Council of the Hong Kong Science and Technology Innovation Class.Qiu Digan and so on.
It is reported that virtual assets are an important part of the Web 3.0 ecosystem. The Hong Kong HKMA may issue a digital Hong Kong dollar in the form of stablecoin. It is expected that it will be finalized with the Beijing Central Government.In addition, Hong Kong will also set up a web3Hub fund to support more overseas Web3.0 companies to settle in Hong Kong.
Wu Jiezhuang, a member of the Legislative Council, and the founder of the entrepreneurial accelerator G-Rocket, said that the Web3Hub Fund is very important because many entrepreneurs in innovative industries will choose to develop in Singapore or Hong Kong.The team with less technology settled in Hong Kong.
In the financial budget of the Hong Kong Government from 2023 to 2024, it promised to allocate a funds of HK $ 50 million (about S $ 8.48 million) to promote the development of the Web 3.0 ecosystem.
