The Hong Kong Special Administrative Region (HKSAR) Government is committed to promoting Hong Kong as a global center of Web3 and as the first track for the development of Web3 in Hong Kong, virtual assets are highly valued by the Government.
On 4 August, a member of the Hong Kong Legislative Council Jonny Ng said in an interview with a Chinese local outlet The Paper that he hopes to explore the possibility of connectivity between digital asset platforms in Shanghai as it has also digital asset exchanges. Jonny Ng expressed his eager expectation to increase the exchange of Web3 talents and cooperation between Web3 industries in Hong Kong and the mainland.
"In my opinion, the virtual assets of Web 3.0 must be developed in the financial center in order to have a better prospect. Hong Kong is a recognized financial center in both breadth and depth," Johnny Ng declared.
In respect of attracting talent in innovation and technology, the Government has formulated a lot of policies and invested HK$10 billion in setting up the “Industry, Academia, Research and Development 1+ Programme” to encourage universities to industrialize their projects in science and technology.