Hong Kong will establish the “Web3.0 Association” tomorrow

The Hong Kong government has been actively promoting the development of the Web3 ecosystem recently. According to sources quoted by “Sing Tao Daily”, a number of Chinese and Hong Kong financial technology companies, industry leaders, and legislators in the innovation and technology circles will form the “Hong Kong Web3.0 Association”, which is expected to be held tomorrow. (11) was formally established, aiming to fully develop Web3 and virtual currency.

The report pointed out that the “Hong Kong Web3.0 Association” will be chaired by Norman Chan, the former president of the Hong Kong Monetary Authority, and Chen Jiaqiang, the former secretary of the Financial Services and the Treasury Bureau, as the chief financial advisor.

It is reported that the “Hong Kong Web3.0 Association” has a strong lineup of members, all of whom are “heavyweights” in the industry: honorary presidents include Li Feng, chairman of China Mobile Hong Kong, Chen Chun, academician of the Chinese Academy of Engineering, and founder of the Global Xiamen University Finance Alumni Association Chairman Chen Shaojie; honorary advisory committee members include Xian Handi, co-founder of China Mobile Games, Tian Xiaoan, vice president of Douyin Group, Hong Minghui, academician of the Singapore Academy of Engineering, Yan Gang, vice chairman of the board of directors of China Merchants Port, who is also a member of the Legislative Council, and Qiu Dagen, a member of the technology innovation circle wait.

On the other hand, Hong Kong Chief Executive Li Jiachao and Beijing Central Liaison Office in Hong Kong will also attend the leaders of the Liaison Office held tomorrow at the Hong Kong Stock Exchange, and will attend the inaugural ceremony of the “Hong Kong Web3.0 Association” held in the lobby of the Hong Kong Stock Exchange. To show the support of the Beijing central government and the Hong Kong SAR government.

“Sing Tao Daily” mentioned that the Monetary Authority has the opportunity to issue “digital Hong Kong dollars” in the form of “stable coins”. It is expected that a decision will still be made after discussions with the central government. However, it believes that such measures will advance Hong Kong’s deployment into the virtual asset market. Has a leading role.

The Financial Secretary of Hong Kong, Paul Chan Mo-po, published the “Secretary’s Notes” yesterday (9) under the title “Developing Web3 – Upholding Integrity and Innovation, Moving Forward Steadily and Prudently”. In his article, he stated that in order to realize the innovative development of Web3, Hong Kong will adopt a strategy of both proper supervision and promotion of development. At the same time, in the budget, 50 million yuan will be allocated to Cyberport to accelerate the development of Hong Kong’s Web3 ecosystem.

Chen Maobo also said last month that after the Hong Kong government issued a policy declaration on the development of virtual assets last year, many Web3 and virtual asset-related innovation and technology companies expressed their desire to develop in Hong Kong. He pointed out that Hong Kong, as an international financial center, has a comprehensive regulatory framework that is widely recognized internationally. Under the government’s overall strategy of promoting innovation and ensuring security, Hong Kong is the best foothold for high-quality virtual asset companies in the world.