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Hong Kong lawmakers propose setting up a HK$100 million fund to promote Web3 ecosystem development

On the afternoon of February 6, a total of 14 members of the C15+ Legislative Council of Hong Kong met with Hong Kong Financial Secretary Paul Chan and other officials to provide opinions on the new budget. Legislative Council Member Ng Kit Chong put forward 22 suggestions on five major areas, pointing out that we should further establish seed funds and invest HK$50 million to promote the development of the Web 3.0 ecosystem, including supporting well-known overseas companies and large-scale industry events in Hong Kong in a 1:1 approach; At the same time, HK$50 million will be allocated to establish a dedicated Web 3.0 investment matching fund.

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