Exploration of Web 3.0 in Hong Kong and Beijing: A Dual Integration of Innovation and Opportunities
The era of Web 3.0, driven by technologies such as artificial intelligence, blockchain, and cloud computing, is changing our way of life and business models.Author: China Daily
The Beijing Municipal Science and Technology Commission, the Management Committee of Zhongguancun Science Park, and the Chaoyang District People's Government recently co-hosted the Beijing Internet 3.0 Innovation Ecosystem Development Conference. At the conference, the "Zhongguancun Internet 3.0 Industrial Park" was officially inaugurated, marking the first Internet 3.0 industrial base in the country. The joint construction of the Beijing-Hong Kong Internet 3.0 digital industry cooperation was also launched, aiming to build a future Web3Hub (Web3.0 Fund) digital center.
In the Web3.0 era, technologies such as artificial intelligence, blockchain, and cloud computing are transforming our lifestyles and business models. On this global competitive stage, both Hong Kong and Beijing, as two iconic cities, are actively embracing Web3.0, exploring innovative development paths, and ushering in a new era of the Internet.
Hong Kong: Innovation Ecosystem and International Vision
As an international financial center, Hong Kong has unique advantages. The "Policy Declaration on the Development of Virtual Assets in Hong Kong" released last year emphasized the Hong Kong SAR government's support and protection for virtual assets and related industries. The development of Web3.0 in Hong Kong mainly revolves around the fintech and innovation ecosystem. Many financial institutions are actively exploring the application of technologies such as blockchain and digital currencies in the financial sector, promoting innovation and development in fintech.
National Committee member of the Chinese People's Political Consultative Conference and Hong Kong Legislative Council member Wu Jiezhuang revealed at the Beijing Internet 3.0 Innovation Ecosystem Development Conference that Hong Kong established Web3Hub in March this year as an accelerator focused on Web3.0 technology, aiming to incubate over 1,000 high-quality Web3.0 projects in Hong Kong.
"Web3.0 represents the next generation of the Internet and fintech technologies, which will bring tremendous innovation opportunities to traditional industries and is key to the globalization of the future digital Hong Kong dollar," Wu Jiezhuang stated. The official Web3Hub in Hong Kong has reached a strategic cooperation agreement with Cypherium, a Web3.0 technology infrastructure service provider. Through future cooperation with Cypherium, a platform and resources will be provided for Hong Kong's technology innovators to promote the safe and effective development of Web3.0 in Hong Kong. Web3.0 is the technological foundation for the digital Hong Kong dollar and the Hong Kong dollar stablecoin, and is crucial for Hong Kong to maintain its status as a global financial center. Cypherium's technical expert Guo Yangrui stated, "We will do our utmost to provide infrastructure technical support for the Web3.0 ecosystem in Hong Kong and across the country."
Embracing Web3.0 is a historic opportunity for Hong Kong. The Hong Kong SAR government has also introduced a series of policies, such as tax incentives and investment support, to encourage enterprises to engage in the innovation and development of Web3.0. Hong Kong's universities and research institutions are also conducting in-depth research in areas such as blockchain and smart contracts, providing strong intellectual support for the development of Web3.0 technology.
Currently, the Hong Kong Monetary Authority has launched a pilot program for the digital Hong Kong dollar and will test application scenarios in Web3 to promote the internationalization of the digital Hong Kong dollar. It is worth mentioning that Hong Kong's international vision provides a broad platform for the development of Web3.0. As an international financial center, Hong Kong can attract global investors, developers, and users, promoting the global dissemination and application of Web3.0 technology.
Beijing: Beijing-Hong Kong Cooperation Leading the Future
As the capital of China, Beijing possesses rich technological resources and talent advantages. In the field of Web3.0, Beijing has demonstrated strong innovative capabilities and development potential. In May of this year, Beijing took the lead nationwide in launching the "Beijing Internet 3.0 Innovation Development White Paper (2023)," providing important guidance and support for the development of Web3.0 technology in the country.
Beijing's Web3.0 innovation mainly revolves around the entrepreneurial ecosystem and research strength. Numerous startups and incubators provide fertile ground for the innovation of Web3.0 technology. Regarding the current state of Internet 3.0 development in Beijing, the "White Paper" mentioned that Beijing has significant advantages in key sub-sectors of Internet 3.0, such as artificial intelligence, blockchain, and communication networks. By the end of 2022, Beijing had a total of 3,467 artificial intelligence enterprises, with 1,048 core enterprises, accounting for 29% of the total number of core artificial intelligence enterprises in the country, ranking first nationwide; as of February 2023, Beijing had 606 blockchain enterprises and 782 registered projects. By March 2023, Beijing had built a total of 87,000 5G base stations, with 39.9 base stations per 10,000 people, ranking first in the country.
Many outstanding startups are also thriving in Beijing, driving the innovation and application of Web3.0 technology. At the same time, Beijing's universities and research institutions have strong research and development capabilities in the field of Web3.0 technology. For example, renowned institutions such as Tsinghua University and Peking University have established dedicated blockchain research centers, providing strong intellectual support for the development of Web3.0 technology.
The cooperation in building the Internet Web3.0 digital industry between Beijing and Hong Kong is of milestone significance. Both sides will jointly promote the construction of the Web3Hub (Beijing) digital center, aiming to create an Internet 3.0 industrial park that integrates research and development, education, communication, and application. This is not just a simple research and development center, but a platform that can facilitate deep communication and cooperation between the two sides.
Future Outlook: Cooperation and Win-Win
Since the beginning of this year, governments across the country have actively laid out the development of Internet 3.0, with more than 30 provinces and cities issuing support policies. Beijing, Shanghai, Hong Kong, Guangzhou, Hangzhou, and other places are particularly proactive. Among them, the Web3.0 development in Hong Kong and Beijing has its own characteristics and broad prospects for cooperation.
Through the joint construction of the Beijing-Hong Kong Internet 3.0 digital industry, places like Beijing and Hong Kong are strengthening technological exchanges and investment cooperation, jointly promoting the innovation and development of Web3.0 technology. In the future Internet era, Web3.0 will bring more opportunities and challenges. The cooperation and innovative development between Hong Kong and Beijing will provide important reference value for the advancement of global Web3.0. (China Daily Beijing Reporter Du Juan)
