Hong Kong Legislative Council member Ng Kit-chung was successfully re-elected and pledged to continue promoting Web3 development.

PANews reported on December 14 that Hong Kong Legislative Council member Ng Kit-chung was successfully re-elected for the eighth term. During the election process, he stated that he would continue to promote the development of Web3 in Hong Kong and assist the Hong Kong SAR government in developing cutting-edge future industries, including embody intelligence, quantum computing, and space technology.

In addition, Wu Jiezhuang addressed recent questions regarding Hong Kong's development of Web3. He believes that the development of stablecoins in Hong Kong will not see major changes and will continue to move steadily forward. Regarding RWA, Hong Kong has already implemented a regulatory sandbox, and Wu believes that different industries can boldly experiment with Web3 technology, which he believes will drive the development of numerous real-world applications. At the same time, Wu stated that he will assist the industry in building a talent ecosystem and encourage more developers and professionals to settle in Hong Kong.