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The Future of Hong Kong’s Digital Economy: A Piloting Field for the Third Generation Internet

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It is reported that at the founding ceremony of the Hong Kong Web3.0 Association, Professor Chen Chun, an academician of the CAE Member, delivered a speech saying that Hong Kong ca

The Future of Hong Kongs Digital Economy: A Piloting Field for the Third Generation Internet

It is reported that at the founding ceremony of the Hong Kong Web3.0 Association, Professor Chen Chun, an academician of the CAE Member, delivered a speech saying that Hong Kong can give full play to the advantages of one country, two systems, boldly take the lead, explore the innovation of digital finance mode and business, bravely act as a pilot field for promoting the development of the third generation Internet, promote the deep integration of the digital economy and the real economy, and drive the transformation of production, life and governance methods with digitalization, Helping China become a leading player in the development of the world’s digital economy in the 21st century. I believe that Hong Kong can also find a new development direction and gain stronger development momentum while serving the national strategy.

Professor Chen Chun, academician of the CAE Member: Hong Kong can be a test field to promote the development of the third generation Internet

Introduction

Recently, Professor Chen Chun, an academician of the CAE Member, delivered a speech at the founding ceremony of the Hong Kong Web3.0 Association. In his speech, Professor Chen Chun stressed that Hong Kong can leverage its advantages of one country, two systems, and explore innovative digital finance modes and businesses. Hong Kong can become a piloting field for promoting the development of the third generation Internet and drive the transformation of production, life, and governance methods through digitalization, ultimately helping China become a leading player in the world’s digital economy.

The Advantages of Hong Kong’s One Country, Two Systems

Hong Kong’s unique political environment gives it an inherent advantage in the digital economy. As a part of China, Hong Kong benefits from the Chinese government’s overall strategy and policies towards the digital economy. Meanwhile, Hong Kong’s judicial independence and open market provide a friendly business environment and free flow of information. Therefore, Hong Kong can leverage the best of both worlds to explore innovative digital finance modes and businesses.

The Emergence of the Third Generation Internet

The first generation of the Internet was based on HTTP and HTML, allowing people to access information on static web pages. The second generation of the Internet introduced web 2.0, enabling collaboration, social networking, and dynamic content creation. The third generation of the Internet, or Web3.0, is expected to be powered by blockchain technology and artificial intelligence, enabling a decentralized, self-governing digital world. Hong Kong can become a piloting field for the development of the third generation Internet, exploring innovative applications of blockchain and AI.

Exploring Innovative Digital Finance Modes and Businesses

Hong Kong has long been a center of global finance, and its financial industry is well positioned to explore innovative digital finance modes and businesses. For example, Hong Kong can leverage blockchain technology to improve the efficiency and security of cross-border transactions. Hong Kong can also explore the use of AI in credit risk assessment and investment recommendations. By facilitating the development of innovative digital finance modes and businesses, Hong Kong can further strengthen its position as a global financial center.

The Deep Integration of Digital Economy and Real Economy

The digital economy has increasingly become an integral part of the real economy, driving transformation and innovation in traditional industries. Hong Kong can use its open market and free flow of information to promote the deep integration of digital economy and real economy. For example, Hong Kong can explore the use of blockchain and AI in supply chain management and logistics, enabling better efficiency, transparency, and traceability. Hong Kong can also use digital technologies to improve tourism, retail, and entertainment, creating a seamless digital experience for consumers.

Conclusion

Hong Kong can indeed become a piloting field for promoting the development of the third generation Internet, exploring innovative digital finance modes and businesses, and promoting the deep integration of digital economy and real economy. By doing so, Hong Kong can further strengthen its position as a global financial center and gain stronger development momentum while serving the national strategy.

FAQs

1. What is the third generation Internet?
The third generation of the Internet, or Web3.0, is expected to be powered by blockchain technology and artificial intelligence, enabling a decentralized, self-governing digital world.
2. How can Hong Kong leverage its advantages of one country, two systems?
Hong Kong can use its unique political environment to explore innovative digital finance modes and businesses while benefiting from the Chinese government’s overall strategy and policies towards the digital economy.
3. What is the deep integration of digital economy and real economy?
The deep integration of digital economy and real economy means using digital technologies to transform and innovate traditional industries, enabling better efficiency, transparency, and traceability.

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