PANews reported on August 2 that the Democratic Alliance for the Betterment and Progress of Hong Kong recently released a policy proposal titled "New Productivity - Empowering the Application and Development of Web3.0 in the Financial Industry", suggesting that Hong Kong develop Web3.0 infrastructure and digital asset businesses to attract funds and boost the economy. The proposal proposes strengthening the development of blockchain platforms, improving the Web3.0 regulatory framework, building a digital identity system, and promoting the digitization of real assets. Legislative Council members suggested that the government balance regulation with industry development and use Web3.0 technology to distribute electronic consumer vouchers to travelers to reduce transaction costs.