According to Wu, the latest discussion document from the Hong Kong Legislative Council shows that the development of the Cyberport Web3 ecosystem is rapidly advancing, with the number of resident companies exceeding 270, including over 120 new companies in the past 16 months. The founders of these companies come from more than 20 countries and regions, including Japan, the United States, and India. Data shows that among the 270 blockchain-related companies, about 200 focus on application and content development (such as NFTs, games, DeFi, etc.), 40 are engaged in system tools and data analysis, 20 are involved in infrastructure construction, and another 10 provide professional services such as venture capital funds. The Hong Kong government has allocated 50 million USD in the 2023-24 budget to promote the construction of the Cyberport Web3 ecosystem.