Golden Finance reported that Hong Kong Chief Executive John Lee delivered a speech at the Innovation Technology and Arts Development Summit 2023 held today, saying that the theme of this forum is the Return of Web3.0: Building a New Starting Point for Gold, which is closely linked to the direction of Hong Kong's development of new growth points such as innovative technology and culture and art under the 14th Five-Year Plan. Web3.0 is a new development direction for the Internet, integrating technologies that have received widespread attention in recent years, and has the potential to become a trend in promoting the future development of finance and trade. John Lee said that the SAR government attaches importance to the development of financial technology and Web3.0, and issued a policy statement, clearly stating that Hong Kong is open and inclusive to innovators engaged in virtual asset business around the world. The government will work with financial regulators to create a favorable environment and promote the sustainable and responsible development of Hong Kong's financial industry. In June this year, Hong Kong has implemented a new licensing system for virtual asset trading platforms and is also fully exploring the regulatory arrangements for stablecoins. The government also closely monitors international developments to ensure that Hong Kong's regulatory requirements are stable and facilitate market development.