TechFlow news: On the afternoon of February 6, 14 members of Hong Kong's Legislative Council C15+ met with Financial Secretary Paul Chan and other officials to discuss the upcoming fiscal budget. Among them, Legislative Council member Wilson Ng proposed a total of 22 recommendations across five key areas, including the development of the Web3 industry.
Regarding support for the Web3 industry, Wilson Ng recommended continuing the development direction set out in the 2023/24 fiscal budget and proposed two key measures: first, allocating HK$50 million to establish a seed fund that would provide 1:1 matching support for well-known overseas enterprises and major industry events to settle in Hong Kong; second, an additional allocation of HK$50 million to set up a dedicated Web3 investment matching fund.
