The Hong Kong Legislative Council Subcommittee on Web3 and Virtual Asset Development has announced the election results of the Chairperson and Vice-Chairperson. According to Legislative Council Paper No. CB (1) 769/2024, Legislative Council Member Ng Kit-chuang was successfully elected as the Chairperson of the Subcommittee. The establishment of the Subcommittee on Web3 and Virtual Asset Development is mainly to review the application and development of Web3 and virtual asset technology in Hong Kong, and to make recommendations on the implementation of relevant regulations and policies. The first meeting of the Subcommittee will be held on Monday, 17 June 2024 from 4:30 pm to 5 pm in Conference Room 2A of the Legislative Council Complex. Ng Kit Chong said on social media that he is very grateful to his colleagues in the Legislative Council for supporting the establishment of the policy research group, and also to Mr. Qiu Dagan and Mr. Lee Chun-keung for nominating the chairperson. In the coming year, we will definitely work actively with the SAR government, industry and society to build the Hong Kong Special Administrative Region of China into an international Web3 center.