PANews reported on August 2 that according to China Review News, the Democratic Alliance for the Betterment and Progress of Hong Kong held a press conference on August 1 and issued a policy proposal on "New Productivity - Empowering the Application and Development of WEB 3.0 in the Financial Industry". It is recommended that the SAR government strongly support the development of the Web3.0 basic blockchain platform, accelerate the development of digital identity applications and surrounding digital industries, improve Hong Kong's compliance and regulatory framework in the Web3.0 encrypted digital field, actively promote the pilot of Web3.0 to empower new traditional financial formats, promote the issuance of multi-asset Hong Kong dollar stablecoins in various financial fields, and develop digital asset businesses with the tokenization of real assets as the core.

The report puts forward six suggestions: First, vigorously develop Web3.0 infrastructure that can support the long-term development of Web3.0, which requires more resources and technology, encourages scientific research and innovation, and the government must formulate policies and regulations to provide support for the development of blockchain technology. Second, accelerate the development of digital identity applications and surrounding Web3.0 digital industries. Third, improve Hong Kong's compliance and regulatory framework in the field of Web3.0 encrypted digital. It is recommended to improve Hong Kong's compliance and regulatory framework in the field of Web3.0 encrypted digital; it is recommended to monitor and warn the risks of the Web3.0 market through technical means such as big data and artificial intelligence; establish a Web3.0 industry committee, formulate industry norms and standards, and strengthen the training of practitioners. Fourth, actively promote the pilot work of Web3.0 to empower new traditional financial formats, such as data interconnection between government departments and banks, traditional financial payment and settlement, personal and corporate credit business, supply chain finance, etc. Fifth, promote the application and practice of multi-asset issuance of Hong Kong dollar stablecoins in various financial fields. It is recommended that Hong Kong promote the issuance of Hong Kong dollar stablecoins based on multi-asset issuance, support equal collateral of legal currencies such as RMB and Hong Kong dollars, and over-collateralization of digital assets such as Bitcoin, Ethereum, RWA, and NFT. Sixth, develop digital asset businesses centered on the tokenization of real assets, such as bonds, funds, private credit, trade, real estate, carbon credit certificates, and precious metals. Promote the RWA industry to form a set of best practice standards and achieve standardization of asset chain protocols; the government must formulate and introduce a legal system for the circulation of RWA tokens in a timely manner to promote seamless integration, data sharing, and asset transfer between the traditional financial and virtual asset ecosystems.