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Hong Kong Web3 Carnival 2023: Memorandum of Hangzhou Hong Kong Web3 Industry Linkage

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On April 12, it was reported that at the 2023 Hong Kong Web3 Carnival, Ms. Kong Dejun, Deputy District Chief of the Shangcheng District People\’s Government of Hangzhou, and Mr. Li

Hong Kong Web3 Carnival 2023: Memorandum of Hangzhou Hong Kong Web3 Industry Linkage

On April 12, it was reported that at the 2023 Hong Kong Web3 Carnival, Ms. Kong Dejun, Deputy District Chief of the Shangcheng District People’s Government of Hangzhou, and Mr. Li Dafeng, representative of the Hong Kong Trade Development Council, signed the Memorandum of Hangzhou Hong Kong Web3 Industry Linkage. By fully leveraging the respective advantages of Hangzhou and Hong Kong, strengthening resource complementarity and sharing, deepening industrial linkage and cooperation in the Web3 field, and effectively promoting the deep integration of the Web3 industry between Hangzhou and Hong Kong, we aim to achieve a convergence effect of 1+1 greater than 2.

The Hangzhou Hong Kong Web3 Industry Linkage Memorandum was officially signed at the 2023 Hong Kong Web3 Carnival

On April 12, 2023, at the Hong Kong Web3 Carnival, Ms. Kong Dejun, Deputy District Chief of the Shangcheng District People’s Government of Hangzhou, and Mr. Li Dafeng, representative of the Hong Kong Trade Development Council, signed the Memorandum of Hangzhou Hong Kong Web3 Industry Linkage. This memorandum aims to leverage the respective advantages of Hangzhou and Hong Kong by strengthening resource complementarity and sharing, deepening industrial linkage and cooperation in the Web3 field, and effectively promoting the deep integration of the Web3 industry between Hangzhou and Hong Kong. The ultimate goal of the memorandum is to achieve a convergence effect of 1+1 greater than 2 in the Web3 industry.

The Significance of the Memorandum

The memorandum marks a significant milestone towards the development of Web3 industry in China. It signifies the collaboration between two of the most significant Web3 technology hubs in China that will lead to the optimization of resources and capabilities. The Web3 industry is the next generation of internet infrastructure, which goes beyond the current Web2 technology used in most websites today. This emerging technology combines blockchain, decentralized finance, and other decentralized technologies, which presents various opportunities for growth and development.
Hong Kong and Hangzhou are already major players in the Web3 industry, and the memorandum’s signing will enhance their collaboration. Hangzhou is a leading technology hub in China with a strong blockchain community, and Hong Kong is a financial hub that can provide the necessary funding and related services to the industry.

Resource Complementarity and Sharing

One of the significant objectives of the memorandum is to leverage the respective advantages of Hangzhou and Hong Kong by strengthening resource complementarity and sharing. The memorandum recognizes the unique strengths of each region and aims to harness their potential collaboratively. Hangzhou has a vibrant blockchain community with a highly skilled workforce and abundant resources. On the other hand, Hong Kong is a well-established financial center with access to international markets and venture capital.
Through the memorandum, the two parties will leverage their respective expertise and share resources to develop a more robust Web3 industry. Companies from both regions can collaborate in developing new blockchain applications, new financial products, and services.

Industrial Linkage and Cooperation in the Web3 Field

The memorandum aims to deepen industrial linkage and cooperation between the two regions in the Web3 field. Industrial linkage refers to the integration of multiple industries along the value chain of a product, resulting in enhanced product value and optimal resource utilization.
With this memorandum, the Web3 industry in both Hong Kong and Hangzhou can be linked to the wider Chinese and global economy, creating a more comprehensive Web3 ecosystem. The memorandum aims to establish a Web3 industry alliance, build a shared development platform, and encourage the development of Web3 industry clusters.

Conclusion

The memorandum of Hangzhou Hong Kong Web3 Industry Linkage marks a significant step towards the development of Web3 technology in China. The collaboration between Hangzhou and Hong Kong will leverage their unique strengths, optimize resource utilization, and deepen industrial linkage and cooperation. The memorandum signifies the recognition of the economic potential of Web3 technology and a commitment to its further development.

FAQs

1. What is the Web3 Industry?

Web3 industry is the next generation of internet infrastructure, going beyond the current Web2 technology used in most websites today. It combines blockchain, decentralized finance, and other decentralized technologies, which presents various opportunities for growth and development.

2. How will the Memorandum of Hangzhou Hong Kong Web3 Industry Linkage benefit the Web3 Industry?

The memorandum will leverage the respective advantages of Hangzhou and Hong Kong, strengthen resource complementarity and sharing, and deepen industrial linkage and cooperation in the Web3 field. The collaboration will lead to the optimization of resources and capabilities, which will enhance the development of new blockchain applications, new financial products, and services.

3. What is the significance of the Memorandum of Hangzhou Hong Kong Web3 Industry Linkage?

The Memorandum of Hangzhou Hong Kong Web3 Industry Linkage is a significant milestone towards the development of Web3 technology in China. It signifies the collaboration between two of the most significant Web3 technology hubs in China, enhancing their collaboration and deepening industrial linkage and cooperation. The memorandum aims to harness the economic potential of Web3 technology and its further development.

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