Hong Kong Legislative Council Member Wu Jiezhuang: Proposes to set up a HK$100 million fund to support the Web3 industry

Odaily News On the afternoon of February 6, 14 members of the Hong Kong Legislative Council C15+ met with Financial Secretary Paul Chan and other officials to discuss a new budget. Among them, Legislative Council member Ng Kit-chung proposed 22 suggestions in five major categories, including the development of the Web3 industry. In terms of supporting the Web3 industry, Ng Kit-chung suggested continuing the development direction of the 2023/24 fiscal budget and proposed two key measures: one is to invest HK$50 million to establish a seed fund, using a 1:1 matching method to support well-known overseas companies and large-scale industry activities to settle in Hong Kong; the second is to allocate an additional HK$50 million to establish an exclusive Web3 investment matching fund.