Hong Kong and Shanghai Join Forces for Web-3 Development

A Hong Kong legislator recently expressed his aspirations to investigate the potential for linking digital asset platforms within the city to a Shanghai-based digital asset exchange. The aim is to bolster Hong Kong’s reputation as a burgeoning global web3 hub. Johnny Ng, a member of the Hong Kong Legislative Council, shared in an interview with The Paper, a Chinese media outlet, that he envisions greater collaboration between web3 industries in both Hong Kong and Shanghai.

“Shanghai is the financial center of our country and is home to many outstanding financial enterprises. Through the Shanghai-Hong Kong Stock Connect program, the stock markets of Shanghai and Hong Kong are seamlessly connected,” Ng said.

“There are also digital asset exchanges in Shanghai. I wonder if these exchanges that are licensed in Hong Kong for virtual asset trading can be interconnected with Shanghai’s exchanges in the future. I really hope there will be discussions on these aspects in the future,” he added.

Ng also said he hopes there can be more web3 talent exchanges between Hong Kong and the mainland.

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