TechFlow news — According to multiple sources, several fintech companies from Hong Kong and mainland China, industry leaders, and multiple Legislative Council members have formed the Hong Kong Web3.0 Association, which will be officially launched on the 11th. The association will be chaired by former HKMA Chief Executive Norman Chan, who has recently been active in financial technology innovation, with former Financial Secretary Paul Chan serving as Chief Financial Advisor. It is understood that Chief Executive John Lee and officials from the Central Government's Liaison Office will attend the inauguration ceremony held at the Hong Kong Exchange trading hall, signaling strong support from both the central and SAR governments.
The association comprises heavyweight figures within the industry, including Legislative Council member and co-founder of startup accelerator G-Rocket, Ng Kit-ching; Li Feng, Chairman of China Mobile Hong Kong; Sean Xian, co-founder of China Mobile Games; Tian Xiao’an, Vice President of TikTok Group; and Qiu Da-gen, Legislative Council member representing Hong Kong’s tech innovation sector.
In addition to the association, Hong Kong will also establish a Web3Hub Fund to support more overseas Web3.0 enterprises in setting up operations in the city.Ng Kit-ching said the Web3Hub Fund is crucial, as many entrepreneurs in innovative industries are still deciding whether to develop in Singapore or Hong Kong. He believes that through this fund and various acceleration programs, Hong Kong can attract numerous tech-savvy teams. He is confident that by combining technologically driven projects with Hong Kong’s traditional financial strengths, the city can become the most important Web3.0 hub in Asia and potentially one of the world’s leading centers.
