Vice President of the Hong Kong Trade and Development Council: If Web3 can solve the pain points of small and medium-sized enterprises in Hong Kong, the Trade and Development Council will be very willing to cooperate

On April 12, it was reported that at the Web3 Hong Kong Carnival Summit held today, Liu Huiping, Vice President of the Hong Kong Trade Development Council, said that Hong Kong’s economy includes three circles, namely trade and manufacturing, logistics, financial and capital markets, and the digital economy. Web3 can also help the achievements of the previous two circles and become a leader. I suggest that the next development of Web3 should help the real economy, financial markets, and capital markets, which will also have more promotion and assistance for Web3. Liu Huiping said that in the past three years, Hong Kong’s small and medium-sized enterprises have also been the main service targets of the Hong Kong Trade and Development Council. These small and medium-sized enterprises have been greatly impacted by the epidemic, and their business has been greatly affected. If Web3 can help small and medium-sized enterprises solve their pain points, you can immediately enter 98% of the Hong Kong economy, because 98% of the Hong Kong economy is composed of small and medium-sized enterprises, and the potential here is enormous.

Vice President of the Hong Kong Trade and Development Council: If Web3 can solve the pain points of small and medium-sized enterprises in Hong Kong, the Trade and Development Council will be very willing to cooperate

I. Introduction
– Explanation of Web3 and the Hong Kong Trade Development Council
– Overview of Liu Huiping’s remarks at the Web3 Hong Kong Carnival Summit
– Brief explanation of the significance of Web3 in Hong Kong’s economy
II. The Three Circles of Hong Kong’s Economy
– Trade and Manufacturing
– Logistics
– Financial and Capital Markets
– Introduction of the digital economy as a fourth circle
III. Web3’s Role in Hong Kong’s Economy
– Importance of the first three circles
– Potential for Web3 to assist in the development of the real economy, financial markets, and capital markets
– The impact of Covid-19 on small and medium-sized enterprises (SMEs) in Hong Kong
IV. Web3 and the SMEs
– An overview of the SME sector in Hong Kong
– The potential benefits of Web3 assistance to SMEs
– The extent of the growth in the SME sector leveraging Web3
V. Conclusion
– Recap of Liu Huiping’s comments and arguments
– The potential for Web3 to contribute to Hong Kong’s economy
– What needs to be done to develop a stronger Web3 enabled SME sector in Hong Kong

On April 12, It Was Reported That Web3 Can Help Small and Medium-Sized Enterprises in Hong Kong Economy, Says Liu Huiping

In recent years, Web3 has become an essential technology in the development of the digital economy. At the Web3 Hong Kong Carnival Summit held on April 12, Liu Huiping, Vice President of the Hong Kong Trade Development Council, stated that Hong Kong’s economy currently includes three circles: trade and manufacturing, logistics, financial and capital markets. He explained that Web3 could also help the development of the first two circles and become the leader in Hong Kong’s economy. Liu Huiping emphasized that the next development of Web3 should focus on helping both the real economy, financial markets, and capital markets, as it will lead to more promotion and assistance for Web3.
# The Three Circles in Hong Kong’s Economy
Hong Kong’s economy comprises three significant circles: trade and manufacturing, logistics, and financial and capital markets. In recent years, with the development of the digital economy, it has been suggested that a fourth circle – the digital economy – should be added to this list, which would help Hong Kong’s economy to grow further.
# Web3’s Role in Hong Kong’s Economy
Web3 has great potential for further development in Hong Kong’s economy. Liu Huiping stated at the Web3 Hong Kong Carnival Summit that Web3 could assist in the development of the real economy, financial markets, and capital markets, particularly in the SME sector.
# Web3 and the SMEs
Hong Kong’s SME sector has been badly affected by the Covid-19 pandemic. According to Liu Huiping, 98% of Hong Kong’s economy comprises small and medium-sized enterprises, and they have been the main service targets of the Hong Kong Trade and Development Council in the past three years. Therefore, if Web3 can help SMEs resolve their issues, the potential market is enormous.
# Conclusion
In conclusion, Web3 can contribute to Hong Kong’s economy by helping the real economy, financial markets, and capital markets. If targeted at the SMEs sector, Web3 could have even greater potential, given their significance in Hong Kong’s economy. Today, governments worldwide are focusing on economic recovery in the post-pandemic era. Hong Kong is no exception to this trend. Web3 has great potential in helping the region to achieve its economic goals.

FAQs:

Q1. What is Web3, and how can it contribute to Hong Kong’s economy?
A1. Web3 is an essential technology in the development of the digital economy. At the Web3 Hong Kong Carnival Summit held on April 12, Liu Huiping, Vice President of the Hong Kong Trade Development Council, stated that Web3 could assist in the development of the real economy, financial markets, and capital markets. This could lead to more promotion and assistance for Web3, which would contribute to Hong Kong’s economic growth.
Q2. How has Covid-19 impacted Hong Kong’s SME sector?
A2. According to Liu Huiping, 98% of Hong Kong’s economy comprises small and medium-sized enterprises, and they have been badly affected by the Covid-19 pandemic. SMEs have been the main service targets of the Hong Kong Trade and Development Council in the past three years.
Q3. Can Web3 technology help Hong Kong’s SMEs sector?
A3. Yes, the Web3 technology has great potential to help Hong Kong’s SMEs sector, which would significantly contribute to Hong Kong’s economic growth. Web3 could help SMEs resolve their issues, which would lead to greater support for Web3 given SMEs’ significance in Hong Kong’s economy.