Hong Kong Web3.0 Association to be Established on April 11

According to reports, the Hong Kong Web3.0 Association, consisting of industry leaders and legislative council members, will be officially established on April 11.

The members of the association are heavyweight figures in the industry, including Johnny Ng Kit-chong, Legislative council member and co-founder of G-Rocket accelerator, Li Feng, chairman of China Mobile Hong Kong, Xian Handi, co-founder of CMGE, and Tian Xiao'an, vice president of TikTok Group, as well as Legislative Council member Chiu Duncan. The association will provide policy direction to the government and attract industry elites to Hong Kong.

In addition to the association, Hong Kong will also set up the Web3Hub Fund to support more overseas Web3.0 companies to settle in Hong Kong.

Johnny Ng said that the Web3Hub Fund is very important. Many innovative entrepreneurs in the industry are still choosing whether to develop in Singapore or Hong Kong. He believes that through the fund and some acceleration programs, Hong Kong can attract many technical teams to develop in the city. He believes that Hong Kong can become the most important Web3.0 center in Asia, and may even become the most advanced center in the world, by combining its traditional advantages in finance with technological projects.

Financial Secretary Paul Chan pointed out in his recent blog that to enable Web3.0 to develop in an innovative and steady manner, a strategy of appropriate regulation and development will be adopted. At least four large-scale seminars or carnival events related to Web3.0, digital economy, and fintech will be held in Hong Kong this week, with some events expected to have over 10,000 participants.