Hong Kong has made significant progress in establishing itself as an international hub for cutting-edge technologies. Hong Kong’s Cyberport has seen over 150 registrations from Web 3.0 companies in the past year, according to the city’s financial secretary.
The government’s focus on promoting high-quality development and fostering collaboration with the private sector has led to remarkable achievements in the realms of cryptocurrency, Web 3.0, and central bank digital currencies (CBDCs).
Hong Kong’s financial secretary allocates HK$50 million to Cyberport for the attraction and development of Web3 companies.
The dynamic innovation and technology ecosystem in Hong Kong has attracted over 150 firms, with notable progress witnessed in areas such as cryptocurrency and Web 3.0.
The Hong Kong Science Park has seen a 30% year-on-year increase in the number of companies settling there, including a “unicorn” company specializing in next-generation data processor chips.
Similarly, Cyberport has experienced rapid growth, with over 1,900 community enterprises and several successful listings of high-potential start-ups in fields like smart logistics and travel platforms.
To further bolster innovation, the government has allocated substantial resources, including a 10 billion yuan investment for the “Industry-University-Research 1+ Plan” and a 30 billion yuan co-investment fund for strategic key enterprises.
As the city moves forward, it seeks to strengthen its collaboration with Greater Bay Area cities and build a world-class innovation and technology center, contributing to both regional and national technological advancements.
Also Read: Hong Kong’s SFC to Permit Licensed Platforms for Retail Investors
