Odaily News - The Chief Executive of the Hong Kong Special Administrative Region Government, Carrie Lam, delivered a speech at the Innovation Technology and Art Development Summit 2023 held today, stating that the theme of this summit is "Return of Web3.0: Constructing a New Golden Starting Point", closely aligned with Hong Kong's direction in developing new growth areas such as innovative technology and cultural arts under the "14th Five-Year Plan". Web3.0 represents a new direction for the internet, integrating technologies that have gained significant attention in recent years and has the potential to become a trend driving future development in finance and commerce.



Carrie Lam mentioned that the SAR Government attaches great importance to the development of fintech and Web3.0 and has issued policy declarations, clearly stating Hong Kong's open and inclusive attitude towards innovators engaged in global virtual asset business. The government will collaborate with financial regulatory authorities to create a favorable environment and promote sustainable and responsible development of the financial industry in Hong Kong. In June of this year, Hong Kong has already implemented a new licensing regime for virtual asset trading platforms and is actively exploring regulatory arrangements for stablecoins. The government also closely monitors international developments to ensure that Hong Kong's regulatory requirements are prudent and facilitate market development.